Colorado gun accessories maker asking $2.5M from Wyoming

2013-06-18T10:21:00Z 2013-06-18T20:59:05Z Colorado gun accessories maker asking $2.5M from WyomingThe Associated Press The Associated Press
June 18, 2013 10:21 am  • 

LARAMIE — A Colorado company that makes gun sights and other firearms accessories is seeking a $2.5 million grant from Wyoming to help it move to Laramie.

The Laramie City Council is expected to vote Tuesday night on an agreement that would endorse HiViz Shooting System's grant application to the Wyoming Business Council. The deal would also back HiViz getting a loan of $600,000 or less.

HiViz is now based in Fort Collins, Colo. It announced that it would move to Wyoming in May after Colorado lawmakers passed new gun control laws.

The funding would pay for construction of a new plant on Laramie Economic Development Corp. property. The corporation is donating the land, worth about $760,000, to HiViz.

According to city documents, HiViz can't borrow money on its own to build a new plant because it is bound by a multiyear lease in Fort Collins.

The business council will likely consider HiViz's proposal in September. If it's approved, it would then go to the State Loan and Investment Board for final approval in October.

City officials estimate that the company would generate about $145.8 million in economic impact over ten years.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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