SLIB Approves Another $12M for Cody Labs
Written by Andrew-Rossi on October 6, 2017
Wyoming’s five highest elected officials recommended a $12 million Economic Development Large Project loan for a Cody pharmaceutical manufacturer at its Thursday morning meeting in Cheyenne.
The State Loan and Investment Board originally recommended an $11 million dollar loan for Cody Laboratories in October 2016 – the project as it stood then was expected to create 39 new jobs. Since then, the firm realized the project had potential for greater impact and approached the Wyoming Business Council for further support, and an $12 million dollars was recommended by that board.
The SLIB Board unanimously upheld that recommendation, and their decision will now go before the state treasurer to determine the length and rate of the loan and then to the governor for final approval.
Cody Laboratories President Bernhard Opitz says the loans will help the company to expand production and research, allowing it to sell its products worldwide.