Wyoming board approves $13M in Magpul incentives package

Magpul moving headquarters to Texas

CHEYENNE, Wyom. - 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, according to the State of Wyoming, but many of the workers will commute from Colorado.

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

The State Land 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.