Business Development Targets & Strategies

Why are you doing this now?

Two significant reasons:

• The inventory of land to entice new prospects is too small and too fragmented to rely upon. Major prospects will not see the type and size of locations they require. The momentum we have gained is too important, and too fragile to risk because we failed to follow up on the start we have made.



• We have the opportunity to leverage our funds through the recently announced State of Wyoming Business Readiness Communities Act. The details of this $25 million three-year program are being finalized but without doubt will include the proviso that applicants must provide matching funds. Without the funds from Progress & Prosperity II we would not be able to leverage the state funding.

How much land are you going to buy and develop?

The answer depends on how far we can stretch our budget and how much money we can get via matching fund programs like the state’s Business Readiness Fund and other Federal programs. Our goal is to acquire between 800 and 1000 acres for development. LEADS currently has an option to buy a 300-acre property and is working on securing other options.

How is land selected?

Cheyenne LEADS has developed criteria based on the requirements of prospective tenants. For small to medium size companies the economics generally work best in a campus style business park. Large scale, heavy manufacturers typically need large acreage and often require access to the rail system. Distribution companies need large sizes and access to the highway interchanges. Maintaining flexibility is critical to managing the budget while meeting a prospect’s needs.

What land does Cheyenne LEADS need to acquire?

There are several choices and alternatives for all three types of sites. Disclosing the specifics prior to the negotiating process has the potential to drive the prices out of the roof. Managing the budget to get the best return is critical, so not discussing the specifics until options are attained needs to be our practice.

Who makes the decisions and manages the money?

Cheyenne LEADS assesses the prospects needs against their inventory of sites and if required, identifies several alternatives to be acquired. This information is submitted to a Land Acquisition Committee. This committee evaluates the alternatives and requests the funds from the Governance and Accountability Committee of Progress and Prosperity II. This group is comprised of the three largest stakeholders in the campaign, the two Co-Chairs of Progress & Prosperity II, the Chairmen of the Boards of LEADS and the Greater Cheyenne Chamber of Commerce. This process is designed to ensure the funds are being optimized and the long-term interests of the community are being met.

How does this benefit existing businesses?

The assistance from LEADS is prioritized by how many new jobs are created. If an existing business needs a new facility due to expansion of their work force or moving in a new division they can expect the same support as a new move-in. LEADS also offers assistance in work force development, applying for financing programs and mentoring the overall process.

What are the differences in roles between LEADS and Progress & Prosperity II?

LEADS is a private company that derives 78% of its funding from dues paid by local businesses, individuals, plus contracts to provide economic development services to the City and County. It has a staff to interface with prospects, negotiates with landowners and the various governmental agencies that need to become involved.

Progress & Prosperity II is an independent private/public 501(C)(6) corporation that raises funds that are over and above the normal operating budgets at LEADS. It also monitors the use of funds over the length of the program to ensure the funds are being used as the investor’s intended.