Wyoming Business Council Unanimously Approves $13 Million to Help Magpul Move out of Colorado
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As we previously reported, Magpul Industries, the company responsible for arguably the most popular AR-15 magazines and gun accessories on the market, is moving their operations to both Wyoming and Texas.
For the Wyoming move, the Wyoming Business Council Board unanimously approved $13 million in loans and grants to help the gun company in getting their new operation up and running.
The company announced their plans to relocate from their home state of Colorado after the state passed strict gun control laws, including laws limiting the sale of their popular PMag AR-15 magazine.
According to The Greenfield Reporter,
The $13 million in state economic development money will help Magpul start operations in Cheyenne later this summer in a temporary facility and then move into a new, permanent facility a couple of years later.
Magpul’s move to Cheyenne is expected to bring about 90 new jobs to Wyoming. The company is planning to move its corporate headquarters and its staff to Texas.
Magpul will invest about $4.4 million in the move to Cheyenne. The local economic development organization in Cheyenne will provide about another $4.1 million in land, money and initial rent relief for the Magpul move, bringing the total state and local investment to about $17.1 million.
Wyoming Business Council staff estimate, however, that the eventual total return to the state will be about $20.6 million.
Business Council board members asked about the wages Magpul pays, the company’s financial soundness and other details of the proposal.