CHEYENNE, Wyoming — A maker of ammunition magazines for guns said Wednesday it will move its manufacturing and warehouse operations from Colorado to Cheyenne as quickly as possible, after the Wyoming State Loan and Investment Board approved a lowered financial package to aid the move.
The board, comprised of five statewide elected officials, including the governor, voted 4-1 to lower a previously approved $13 million state grant to $8.3 million for Magpul Industries to move from Erie, Colorado.
Magpul decided to move its production, distribution and shipping operations to Cheyenne and its headquarters to Texas after Colorado enacted gun control laws last year.
Changes in plans for housing the company's operations in Cheyenne allowed for the reduction in grant money, economic development officials said. Only state schools Superintendent Cindy Hill, who opposed the original financial package, was against the amended deal.
According to Wyoming Business Council staff, Magpul will pay back about $3.7 million of the state grant. The council said the total return for the state and Laramie County will be about $14.3 million when taxes, lease revenue and other factors are considered.
Randy Bruns, CEO of Cheyenne's economic development organization, said the new package does more than save the state money.
"It's going to get Magpul an operational facility sooner, and in a cleaner deal and in a building that over time perfectly meets their needs," Bruns said.
Jonathon Anderson, an attorney representing Magpul, said the company has already started hiring workers for the Cheyenne facility that will employ about 90 people.
The company plans to move into the Cheyenne facility in early November and close its Colorado facility sometime next spring, he said.
Business Council staff said wages for entry level jobs will be around $16 an hour with health, dental and other benefits.
Anderson said the company isn't certain yet how many current employees at its Colorado facility will move with the jobs but it likely won't be many.
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