Upton project hiccups

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Railcar repair and cleaning facility hits speed bump

While location, funding, and overall logistics of the railcar repair and cleaning facility project are well underway, the Upton Economic Development Board recently encountered a hiccup with one funding contributor. The project, to be located in Upton’s Logistics Park, is owned by Tiger Transfer and operated by Railcar Holdings.

According to John Marshall, president of UEDB, the grant and loan package approvedby the Wyoming Business Council came with two contingencies on the funding: (1) the UEDB must share the title on the lien with the Economic Development Administration and (2) Railcar Holdings must have enough startup capital in its account to fund payroll and any startup expenses, an amount equal to the $5.9 million of private funding from Railcar Holdings, which is tied up with paperwork concerns, Marshall said.

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