Maven Headquarters groundbreaking set for tomorrow

(Lander, WY) – The City of Lander has issued the following release in regards to the groundbreaking for the Maven Headquarters that is to take place tomorrow.

“Please join the City of Lander and Lander Economic Development Association (LEDA) in the Maven Headquarters groundbreaking ceremony Wednesday, February 16 at 2 pm. The
Groundbreaking will be held at 1042 Pronghorn drive across from the CWC Lander campus.

“The Maven Headquarters Building is the first large economic development project for LEDA and the City of Lander. The Business Ready Community (BRC) grant and loan program provides financing for publicly owned infrastructure that serves the needs of businesses and promotes economic development within Wyoming communities.

“The BRC program encourages development of new technology and new expansion opportunities to create jobs in communities. Taking advantage of this program will enable in-house technology and manufacturing capabilities right here in the Maven Headquarters building. The Maven expansion is projected to create 23 additional jobs by the year 2027.

““These projects are good examples of community leadership taking the initiative to put skin in the game and lay the foundation locally for economic growth,” said Business Council CEO Josh Dorrell.

“LEDA and the City were successful in getting $3M grant and $3M loan for this almost $7M
project. Maven donated the Land they purchased to the City and made an additional cash
donation to provide collateral for the loan.

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“Maven will then lease the headquarters building and site back from the City for their operations. The repayment of the loan by Maven also provides some economic revenue recapture back to the City in accordance with the WBC rules.

“These revenue recapture funds provide an annual stipend to the City for the duration of the loan repayment that must be reinvested in Economic Development. LEDA will have the opportunity to use the revenue recapture funds for future development project in the City.”

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