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Wyoming county backs $13M Magpul incentive package

2:12 PM, Jan 8, 2014   |    comments
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CHEYENNE, Wyo. (AP) - Cheyenne area officials are backing a $13 million loan and grant package to help Magpul Industries move its manufacturing operations to Wyoming.

Laramie County commissioners voted unanimously Tuesday to support the $5 million loan and $8 million grant from the county's economic development corporation.

Magpul, one of the country's largest producers of ammunition magazines, announced last week it was leaving Colorado and moving its manufacturing to Cheyenne and its headquarters to Texas because of the state's new restrictions on magazines.

The Wyoming Tribune Eagle reports that the economic development corporation will also pay for $1.5 million in renovations at the building Magpul is leasing while it builds its new manufacturing facility.

The corporation's business director says the county had to offer an incentive package to compete with other states.

(Copyright 2014 by The Associated Press. All Rights Reserved.)

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