State Incentives
NO Corporate State Income Tax!
NO Personal State Income Tax!
WyoRECs Renewable Energy Credit Discount Program
WyoRECs is a partnership formed in 2013 between the Wyoming Business Council and Powder River Energy Corporation (PRECorp) to offer discounted renewable energy credits (RECs) to companies interested in taking advantage of green energy to power their growing Wyoming operations.
Business Ready Community Grant & Loan Program
(Click here for more information.)
The Business Ready Communities program can provide financing for
publicly owned infrastructure that promotes economic development within
Wyoming communities. Projects may include direct job creating projects
where a business has committed to locate or expand in a community, and
community readiness projects where no specific company has committed to
expand or locate in a community.
Industrial Development Revenue Bonds
(Click here for more information.)
Cities and counties may issue tax-exempt industrial development
revenue bonds to provide financing for manufacturing and energy
generation businesses. These bonds are issued within the State’s IRS
allocation of tax-exempt bond financing. The maximum project is
$10,000,000 and the business must provide a bank “letter of credit” to
guarantee payment of the bonds. Interested businesses must apply for an
allocation within the State’s volume cap. The Wyoming Business Council
will coordinate this process.
Wyoming Partnership Challenge Loan Program
(Click here for more information.)
The Wyoming Partnership Challenge Loan Program provides low-interest
loans to community development organizations that, in turn, match these
funds and make low-interest loans to new and existing businesses. The
funds may also be used to purchase participations on loans originated by
commercial lenders. Interest rates on these loans are generally fixed
for the first five years and may be as low as 5%. The maximum loan
amount per business is $250,000. The Wyoming Business Council
administers these funds.
Workforce Training Grants
The Workforce Development Training Fund (WDTF) was created by the 1997
Wyoming Legislature and assists new and existing industries in the
state with the training needs of newly hired or current employees.
The training grants are available for up to $4,000 per trainee. The WDTF application form is available here.
Local Incentives
Many local communities in Wyoming may also offer local incentives.
These would depend upon the individual community and the prospective
business.
Community Development Block Grant (CDBG) Program
(Click here for more information.)
The CDBG Program provides grants to local governments for community
and economic development projects. The CDBG Program makes convertible
loans based on job creation as well as other tools that may assist
businesses. The Wyoming Business Council administers this federal
program and approves grant recipients for the money issued to Wyoming.
Training Programs
(Click here for more information.)
The Wyoming Business Council, the Department of Workforce Services and
the Wyoming Community College Commission have partnered to improve
workforce development training to companies doing business in Wyoming by
licensing Georgia’s Quick Start Program.
Wyoming has also licensed the Supervisory and Leadership Training
programs from Development Dimensions International (DDI). The DDI
curriculum in professional and leadership development can be delivered
in half-day, full-day or multi-day formats to meet your company’s time
frame and training needs.
