WBC backs $9 million loan for Cheyenne plant

Posted 6/27/19

CHEYENNE (WNE) — Plans to develop a $17.8 million manufacturing plant in Cheyenne are moving forward.

The Wyoming Business Council board recommended last week that the state approve a …

This item is available in full to subscribers.

Please log in to continue

E-mail
Password
Log in

WBC backs $9 million loan for Cheyenne plant

Posted

CHEYENNE (WNE) — Plans to develop a $17.8 million manufacturing plant in Cheyenne are moving forward.

The Wyoming Business Council board recommended last week that the state approve a $9.35 million loan for the construction of an 80,000-square-foot biomedical facility on the city’s east side.

The loan, funded through the state’s Economic Development Large Project program, is still subject to State Loan and Investment Board review and governor approval.

Owners of California-based Innovive, a company registered as WYTEC locally, are working with economic development groups to design and build a state-of-the-art manufacturing plant in the Cheyenne Business Parkway within two years. Cheyenne LEADS, which owns the business park, would sell the acreage to WYTEC.

The company specializes in single-use disposable caging products for laboratory rodents used in medical research. Traditionally, these animals are housed in thick plastic containers that require regular sterilization, but Innovive CEO Dee Conger told the Wyoming Tribune Eagle in February that method is expensive and time-consuming.

Conger said Innovive would move its entire production to Cheyenne — a boon to the city and Wyoming. Although the plastics manufacturer now uses a third party to sterilize the cages, owners want to expand and offer those services, too.

The company plans to employ 80 to 100 local workers, and the Business Council estimates a $3.2 million economic benefit to Wyoming annually.

Comments