startups

SEEDA Board Commits to Grants for Kennon Project


College Planning Director Robert Briggs, at far left. Also shown, SEEDA board members Dr. Paul Young and Gary Koltiska. (Photo by Pat Blair)

College Planning Director Robert Briggs, at far left. Also shown, SEEDA board members Dr. Paul Young and Gary Koltiska. (Photo by Pat Blair)

Applications for more than $6 million in grants and a loan were authorized Tuesday for a building that would be constructed in the Sheridan Hi-Tech Business Park and leased to Kennon Products for expansion of the company.

Action came in a meeting of the Sheridan Economic and Educational Development Authority joint powers board – also known as SEEDA – which is made up of representatives of Sheridan College and the city of Sheridan.

Robert Briggs, who’s planning director of the Northern Wyoming Community College District, said plans are for a building of up to 40,000 square feet.

The building would be constructed on the remaining SEEDA lot in the Hi-Tech Business Park, which is just over 9 acres.

Kennon Products currently owns and occupies an 11,000 square foot building on North Main Street, and a memo from Briggs to the SEEDA board says neither that building nor the building site will accommodate any future expansion.

SEEDA proposes to finance the building with just under $2.26 million in grant funding from the U.S. Economic Development Authority, a grant of $2.85 million from the Wyoming Business Council and a loan of just over $1.5 million from the Wyoming Business Council.

In Tuesday’s action, the SEEDA board approved a letter of commitment for the federal grant and resolutions authorizing submissions of grant and loan applications to the state business council. The board also designated Briggs as authorized SEEDA representative for management of the federal grant when it’s awarded.

In other action Tuesday, the SEEDA board voted to provide $15,000 for this year’s Sheridan Start-Up Challenge. Scott Rendall, who’s director of the Wyoming Technology Business Center, provided an update on the Start-Up Challenge, which provides an opportunity for entrepreneurs to receive seed funding for their business ideas.

Rendall said the application for this year’s challenge will continue through Sept. 14.

View another photo below.

view counter
Another view of the SEEDA board, with Chairman Ken Thorpe at far right. (Photo by Pat Blair)

Another view of the SEEDA board, with Chairman Ken Thorpe at far right. (Photo by Pat Blair)



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.