The Wyoming House of Representatives has given initial approval to a bill that sets up a state loan program and also helps fund the expansion of a Cody business.
The bill allows loans to be used for large economic development projects. It would also provides $24 million in state money for a company to expand its operation in Cody. Officials say it will create over 100 jobs. Cody Representative Sam Krone says these types of loans will help diversify Wyoming's economy.
"I see this as an expansion of a program that's worked," Krone says. "I see it with appropriate safeguards within the statutory language, I see this as a real opportunity to continue and double down on what we all believe is a priority for Wyoming. That is to diversify our economy."
Krone says creating new jobs for the state is critical. The bill will be debated two more times.