Gordon signs two bills on Monday, creating business inheritance loans, increasing tribes’ access to grants

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Governor Mark Gordon delivers his State of the State Address at the 2020 Joint Session of the Wyoming State Legislature. (Dan Cepeda, Oil City)

CASPER, Wyo. – Governor Mark Gordon hosted a formal bill signing ceremony Monday afternoon for the first two bills of the 2022 legislative session, both related to Wyoming Business Council (WBC) programs. , according to a statement from the governor’s office.

The Economic Development Programs and Tribal Inclusion Bill “clarifies state statutory language that guarantees the eligibility of the Eastern Shoshone and Northern Arapaho Tribes to participate in the Business Ready Community Grant and Loan Program for public infrastructure,” the statement said. “It also allows tribes to collectively apply for the grant and loan program.”

The Partnership Challenge Loan Program – Amendment Bill “authorizes contractual loans for businesses and creates business succession and estate planning loans as part of the Partnership Challenge Loan Program portfolio of WBC partnership,” the statement read.

“We’ve heard over and over again of businesses in Wyoming that have been forced to close shop because owners wanted to sell but financing wasn’t available,” WBC chief financial officer Josh Keefe said in the communicated.

“The new Business Succession Loan will allow commercial lenders to partner with the Business Council to provide a means to keep transitioning Wyoming businesses open and employing workers, creating a roadmap to achieve their goals,” said said Keefe.

Wyoming Business Council CEO Josh Dorrell said both bills increase opportunities for economic growth and job creation.

“Our agency is grateful to the Tribal Relations Select Committee; the Joint Committee on Minerals, Business and Economic Development; and the Office of the Governor for their collaborative work during the interim period of the Legislature to identify gaps and create solutions resulting in these effective policies.

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