United States Department of Commerce release:
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is investing $3 million in Central Wyoming College of Riverton, Wyoming, to help build an agriculture-focused training facility. The investment, to be located in a Tax Cuts and Jobs Act designated Opportunity Zone, will be matched with $2.5 million in local funds and is expected to help create more than 100 jobs.
“The Trump Administration is committed to creating new opportunities for Americans and focusing investment on the underserved areas designated by the Tax Cuts and Jobs Act as qualified Opportunity Zones,” said Secretary Ross. “This investment will support the construction of a new training facility at Central Wyoming Community College that will provide skilled workers to local agricultural businesses.”
“This is exciting news for Central Wyoming College in one of our key industries,” said Governor Mark Gordon. “This investment supports my goals of improving education and job training opportunities for Wyoming residents, and making our community college system a key partner in building our future workforce.”
“This project is a great example of how the Tax Cuts and Jobs Act continues to make a positive impact on communities in Wyoming and across the country,” said Senator Barrasso. “A new agriculture-focused training facility at Central Wyoming College is an excellent investment. It will create jobs and increase economic development in the region. This facility will provide hands-on training to Wyoming students and will also ensure our state has a skilled agriculture work force for years to come.”
“I am pleased to see positive effects of the Tax Cuts and Jobs Act helping folks in Wyoming. The tax legislation Congress passed included Opportunity Zones to help individuals and families move up the economic ladder,” said Senator Enzi. “I hope communities throughout the state benefit from this investment in one of our Opportunity Zones.”
This project will help construct the approximately 85,000 square foot Agriculture and Animal Science building with classrooms, laboratories, open spaces, offices and learning areas needed to support the Agriculture and Animal Science curriculum offered by Central Wyoming College.
The funding announced today goes to a Tax Cuts and Jobs Act designated Opportunity Zone, which provides special incentives for further private sector participation and development. Created by President Donald J. Trump’s Tax Cuts and Jobs Act of 2017, Opportunity Zone designations spur economic development by giving tax incentives to investors in economically-distressed communities nationwide. To learn more about the Opportunity Zone program, see the Treasury Department resources page here. To learn more about the Department’s work in Opportunity Zones, read our blog post.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.