In 2010 the United States Congress allocated funds to states and municipalities to establish a Small Business Incentive program.  The State opted not to participate, but allowed municipalities to work together to form a coalition in which to obtain the funds.  A total of seventeen (17) municipalities chose to participate, including the City of Gillette.  The resulting entity is known as the Wyoming Smart Capital Network, LLC.

The program consists of (2) financial programs.  The first includes a "collateral program" which provides financial guarantees to banks making certain loans to small businesses.  The second, entitled the "Wyoming Smart Capital Fund" makes investments in early stage and growth companies in the State.  These programs are ONLY available to businesses located in those original seventeen (17) communities.

The Wyoming Smart Capital Business Network seeks to expand the program in several regards.  Most importantly, rather than focusing on solely the original seventeen (17) municipalities, the expansion would bring into consideration the entire county in which the municipality is located.  In the case of Gillette, it would open eligibility to Campbell County as a whole.

The balance of the resolution is designed to implement this fundamental change in the program, and provides authority of the Mayor to execute these resolutions on behalf of the City.

You will note the format of the Resolution is different than is regularly presented to Council.  This is the draft language approved by the Wyoming Smart Capital Network., LLC.  By providing the exact same resolution language to each of the seventeen (17) entities, there will remain no doubt as to the adoption of the changes from municipality to municipality.  The goal is consistency in the Resolution.