SLIB Grants 13 Million To Gun Related Company

Feb 6, 2014

The Wyoming State Loan and Investment Board has approved $13 million in grants to help a Colorado producer of ammunition magazines for guns move its manufacturing operations to Wyoming.

Erie, Colo.-based Magpul Industries is moving its production, distribution and shipping operations to Cheyenne and its headquarters to Texas. The company is making good on its vow to leave Colorado after that state enacted gun control laws last year.

Magpul will bring about 90 new jobs to Cheyenne.

Officials say Magpul's move will return about $20 million on the total local and state investment of about $17 million over 20 years.

The State Loan and Investment Board, made up of the five statewide elected officials, approved the grant Thursday.

The Magpul deal is pending likely final approval from Gov. Matt Mead.