Governor Matt Mead expressed his support in helping with the move, which begins immediately and his appreciation for Magpul recognizing the state’s benefits to a manufacturing company.
“Wyoming and Magpul are a great match. The state is looking to expand and diversify its economy. Bringing an innovative and growing manufacturing operation to Wyoming is a significant step for the state. We offer Magpul an attractive tax environment, stable and reasonable regulations, not to mention a firm commitment to uphold the Second Amendment,” Governor Mead said.
The company plans to lease a 58,000 square foot manufacturing and distribution facility while the construction of a new 100,000+ square foot build-to-suit facility is being completed in the Cheyenne Business Parkway. This two-phased approach allows for rapid movement of operations out of Colorado where the company is currently located. Additionally, Magpul is moving its corporate headquarters to Texas.
Magpul Industries has been looking at relocation since early this year. “Magpul made the decision to relocate in March 2013 and has proceeded in an aggressive but deliberate manner,” said Doug Smith, Chief Operating Officer for Magpul Industries. “These dual moves will be carried out in a manner that ensures our operations and supply chain will not be interrupted and our loyal customers will not be affected.”
“Magpul has a core set of values that guides its business plan, its relationship with its employees and how it develops and produces its products,” said Randy Bruns, Chief Executive Officer of Cheyenne LEADS. “We are pleased that they will be anchoring that approach to business here in southeast Wyoming. The company’s move to Cheyenne represents a significant expansion of local manufacturing and job diversity.”
Cheyenne LEADS is pursuing a grant and loan package through the Wyoming Business Council that will enable LEADS to construct a building that can be leased to Magpul. Cheyenne LEADS is securing a temporary facility in a vacant warehouse and has committed to bring it into useable condition and make it available to Magpul while a new facility is under construction.
“This project has clearly been a team effort of the Governor’s Office, the Wyoming Business Council, Laramie County and Cheyenne LEADS, working closely with Magpul,” states Bruns. “It is to the credit of the Cheyenne community and LEADS’ board of directors, past and present, that LEADS has the capacity to play an important role in bringing Magpul here.”
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.
“This company brings a new level of manufacturing capability to Cheyenne and the state,” stated Bob Jensen, Chief Executive Officer of the Wyoming Business Council. “It will serve as a magnet that will help significantly grow Wyoming’s manufacturing industry and is a great investment for Wyoming.”