First bills signed by Governor related to Business Council programs

(Cheyenne, WY) – Governor Mark Gordon held a formal bill signing ceremony this afternoon for the first two bills of the 2022 Legislative session: HB0009 – Economic development programs-tribal inclusion and HB0046 – Partnership challenge loan program-amendments. Both bills are related to Wyoming Business Council (WBC) programs.

“Both of these bills increase opportunities for economic growth and job creation,” Wyoming Business Council CEO Josh Dorrell said. “Our agency is grateful to the Select Committee on Tribal Relations; the Joint Minerals, Business and Economic Development Committee; and the Governor’s Office for their collaborative work during the Legislature’s interim period to identify gaps and create solutions resulting in these effective policies.”

HB0009 clarifies state statutory language that ensures eligibility for the Eastern Shoshone and Northern Arapaho tribes to participate in the Business Ready Community grant and loan program for publicly owned infrastructure. It also enables the tribes to collectively apply for the grant and loan program.

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HB0046 authorizes contract lending for businesses and creates business succession and succession planning loans as part of the WBC’s Partnership Challenge Loan program portfolio.

“We’ve heard over and over about Wyoming businesses that have been forced to close up shop because the owners wanted to sell but financing wasn’t available,” WBC Finance Manager Josh Keefe said. “The new business succession loan will allow commercial lenders to partner with the Business Council to provide a means to keep businesses in transition in Wyoming open and employing workers, creating a roadmap to realizing their goals.”

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