SHERIDAN — Sheridan Economic and Educational Development Authority announced last week that, at the request of the company, it will not move forward with the Vacutech Expansion Project.
Citing uncertainty over the economic impacts of the COVID-19 virus pandemic, Vacutech leadership sent a letter to the SEEDA board chair requesting that the project not proceed. SEEDA is in the process of working with the Wyoming Business Council regarding next steps.
In 2017, SEEDA secured $4,224,496 in funding from the Wyoming Business Council’s Business Ready Community Grant and Loan Program for the Vacutech expansion.
As a Business Committed Project, SEEDA would have overseen construction of a 40,000-square-foot facility that would be leased by Vacutech. Proceeds of the lease would have been used to repay WBC loans and help to fund future economic development efforts in the Sheridan community.
The new facility was intended to help Vacutech expand its operations in Sheridan. In 2020, SEEDA was awarded an additional $1,369,785 in loan funding from the WBC to help fund the project following necessary redesigns and rebidding.
Given Vacutech’s request, SEEDA will not award bids for the project.
According to a press release from the joint powers board, SEEDA’s other projects remain unaffected by the announcement.