CASPER, Wyo — Services and support for entrepreneurs across Wyoming will be expanded as a result of a $2.4 million CARES Act Recovery assistance grant to the University of Wyoming from the U.S. Department of Commerce’s Economic Development Administration (EDA), the university announced Friday.
The project will broaden the reach of UW’s existing IMPACT 307 business incubator program, helping entrepreneurs “respond to negative economic impacts of the COVID-19 pandemic” and “diversify the base of employers in the state.”
UW said the grant, to be matched with $600,000 in local investment, “is expected to create 368 jobs and generate $1 million in private investment.”
“Supporting local strategies designed to create stronger and more resilient economies in response to the coronavirus pandemic is a top priority for EDA,” said Dennis Alvord, acting assistant secretary of commerce for economic development.
“This is in line with the Wyoming Innovation Network (WIN), a new initiative announced last week by Governor Mark Gordon,” UW said.
That program aims to boost software engineering and hospitality training programs, as well as make it easier to transfer credits among Wyoming colleges.
“This funding from the EDA will allow us to respond to immediate needs in the state resulting from the pandemic, while setting the stage for future innovation and entrepreneurial efforts,” UW President Ed Seidel said.
Read the full release here.