Cheyenne, Wyoming (May 6, 2020) – Cheyenne LEADS is pleased to announce that Magpul Industries is making a difference in Cheyenne and Laramie County.
Magpul Industries moved its manufacturing, warehousing and distribution functions to Cheyenne in March of 2014. When Magpul announced their move to Cheyenne in 2013 the company expected to employ approximately 90 people. As of today, Magpul Industries employs over 300 people at their Cheyenne facility and has paid over $40 million in payroll and taxes.
“Magpul is a great story and an example of how the community benefits from economic development efforts,” says Betsey Hale, CEO of Cheyenne LEADS. “When you drive by Magpul and see all the Wyoming license plates in the parking lot, you understand why economic development is so important to the community, you see that it betters lives and families,” adds Hale.
Cheyenne LEADS worked with Magpul on an approximately $9 million deal, of which $1M came from Cheyenne LEADS in the form of an incentive and the rest as a grant from the Wyoming Business Council, which Magpul is currently in the process of paying back.
According to Carey Ryerson, Vice President Manufacturing Operations, “Magpul’s move to Wyoming has made us a better, stronger, and more agile organization. Laramie County has a robust and dedicated workforce that has helped us grow and meet the demands of our industry.”
About Economic Development Week
Created by the International Economic Development Council in 2016, the goal of Economic Development Week is to increase awareness for local programs that create jobs, advance career development opportunities, and increase the quality of life in communities everywhere. Economic Development Week includes communities large and small and is designed to highlight the importance of economic development and the good work that economic developers do every day.
About Magpul Industries
Magpul was founded in 1999 with the intent of developing a simple device to aid in the manipulation of rifle magazines while reloading under stress. Since that time, the company has expanded its production line to include consumer products and firearm accessories from phone cases to rifle stocks to magazines based on proprietary composite material. The company products are known for their extreme reliability and durability and have become some of the most sought-after accessories in the industry.
About Cheyenne LEADS
Cheyenne LEADS is a private, not-for-profit organization serving as the economic development entity for the City of Cheyenne and Laramie County, Wyoming. LEADS can assist non-retail businesses in all phases of relocation or expansion
For questions and additional information contact:
Betsey Hale
CEO, Cheyenne LEADS
307-638-6000/307-630-2179
Carey Ryerson
Vice President Manufacturing Operations, Magpul Industries