On Thursday, December 7th the Wyoming Business Council unanimously recommended that the State Loan and Investment Board (SLIB) approve a loan application by the Sheridan Economic and Educational Development Authority Joint Powers Board (SEEDA) for over $12 million.
The loan would pay to construct a facility of up to 100,000 square feet in the Sheridan High Tech Business Park to house the mysterious “Project Enterprise.”
SHERIDAN’S NEW HUSH, HUSH ACQUISITION
According to Business Ready Community (BRC) Grant Project Manager Brayden Connour, “Project Enterprise is an internationally recognized manufacturer and iconic brand name that has chosen to move its corporate headquarters and manufacturing to Sheridan. The company’s identity and specific industry remain confidential due to the proprietary nature of its plans and to avoid significant workforce disruption because of its relocation.”
Wyoming was in competition with other states as a relocation site for the anonymous company, and Sheridan was chosen from multiple possible sites in Wyoming. Tax and regulation burdens in their current location make Wyoming an attractive option and, according to the company, the Business Ready Community Grant program sealed the deal. Sheridan College’s vocational training in skills useful to their industry were also cited.
Additionally, Sheridan County and the Big Horn Mountains reportedly fit in with the company’s brand. When executives visited Kennon in Sheridan, someone suggested that they could go pheasant hunting on their lunch break, which struck their fancy.
While many employees will be relocating along with the company, it is estimated that 50 – 70 jobs will be created locally. The facility will be leased to Project Enterprise, and revenue will be split between SEEDA and BRC.
Sheridan Mayor Roger Miller spoke at the December 7th meeting, thanking the Wyoming Business Council, the anonymous company, and everyone involved.
Representatives of the company listened in on the phone throughout and, when discussion of the project was wrapping up, one of them referred to as “Mr. Enterprise” was moved by the overwhelming support to make a statement. He said that what started as a business conversation turned into an all-encompassing welcome as they learned more about Sheridan and Wyoming. “
We want to let you know that we do not take this lightly. We don’t want to feel entitled. We know that when we get there, that we’ve got a lot of work to do for our brand, but also for the great state of Wyoming. So, on behalf of our anonymous organization which I do apologize for, I wish we could share it now, and hopefully we will in January if everything goes forward and the grant is approved, I look forward to meeting many of you in the months and years ahead as we grow our business together. So, thank you so much and I better stop there before I reveal something that might give something away.”
The Wyoming Business Council’s recommendation will be considered by the SLIB in January.
Turns out, our acronym-loving friends at the SEEDA, SLIB, and BRC, aren’t the only ones who truly know how to keep a secret.