Wyoming Welcomes Magpul with $13 Million in Proposed Relocation Aid
OutdoorHub Reporters 01.27.14
On Thursday, the Wyoming Business Council voted unanimously to support a $13 million economic development package for Magpul Industries. The company announced earlier this year that it would relocate its manufacturing, distribution, and shipping activities to Cheyenne, Wyoming. This includes the construction of a 100,000-square-foot facility in Wyoming’s capital, as well as the temporary lease of a 58,000-square-foot building.
Magpul initially announced its departure from Colorado last March, after the state passed a package of strict new gun control laws. At the time the company voiced criticism of the new laws, which included a ban on “assault weapons” and limited magazine size.
“Moving operations to states that support our culture of individual liberties and personal responsibility is important,” said Richard Fitzpatrick, Magpul’s chief executive officer, in a press release.
While Magpul intends on setting up its corporate headquarters in Texas, the bulk of its manufacturing capability is headed for Wyoming. The move will occur in phases to affect distribution as little as possible, but the company is expecting some big expenses. According to the Associated Press, the Wyoming Business Council hopes that $13 million in aid will help to lessen that burden.
The aid package consists of $5 million in loans and an $8 million grant. The Wyoming Tribune Eagle reported that the grant funds will go towards the buying and refurbishing of the temporary manufacturing facility, while the loans will provide a head start for the construction of the permanent location. The proposal was also approved by the Laramie County Commission on Tuesday.
The Wyoming Business Council estimated that the total return to the state as a result of Magpul’s relocation will be around $20.6 million. Local leaders also hope that the company will bring in more jobs and additional manufacturing capability.
The economic development proposal now moves to the State Land and Investment Board, which will review it at the board’s next meeting in February.
