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Bids were let this week for construction of a processing facility for Gluten Free Oats, a business that had its genesis in an FFA project at Powell High School. Funding for the building has been provided through two grants received through the …
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A local agriculture-based business has turned out to be a great example of how Powell can build on its assets, as well as how government and business can work together for economic development.
Bids were let this week for construction of a processing facility for Gluten Free Oats, a business that had its genesis in an FFA project at Powell High School. Funding for the building has been provided through two grants received through the Wyoming Business Council and the State Loan and Investment Board, along with an additional contribution from the city for matching funds and purchase of the land.
The facility, which will be built by a local contractor, will belong to the city of Powell, and Gluten Free Oats will lease the facility in a lease-purchase agreement, making monthly payments until the entire amount, plus interest, has been paid back to the city. If the entire sum of both grants is used, up to $758,701 will go back to the city of Powell.
The city, in turn, will use the money to build a revolving loan fund and to finance needed infrastructure or other community projects.
Gluten Free Oats has been a successful operation and reportedly has drawn considerable demand for its product, nearly all of that demand from outside the community, outside the state and outside the country. In addition, it is possible that new businesses could collaborate to market new products, such as gluten-free oat flour, bringing even more business into the community.
The project promises to be a winner for all concerned.
Gluten Free Oats will bring money into the local economy as well as providing funds that the city of Powell can use for future projects that can make the community more attractive to new businesses. In addition, another local business will make a profit on the construction.
Moreover, the project is an example of how the community can build on the strengths it has, in this case, a healthy agriculture community and an education system that teaches young people who are the key to future development.
We hope to see similar cooperation between the public and private sectors in the future.
