MIDA loaning itself millions for nuclear project at Camp Williams

BLUFFDALE, Utah – The same Utah state agency that initially greenlit the proposed AI data center project in Box Elder County is now loaning itself millions of dollars to help advance a key nuclear project.

The Military Installation Development Authority, or MIDA, unanimously voted to take out a $16.5 million loan from its own infrastructure loan bank. A portion of that money will go towards prepping a site at Camp Williams that will eventually have a facility that makes uranium enrichment equipment.

According to a draft of the official minutes from MIDA’s last board meeting on April 24, the money will go toward “both a General Matter sublease project and an additional manufacturing user currently under lease negotiation.”

MIDA Executive Director Paul Morris spoke about that planned facility at the last board meeting, where they approved the loan.

“The result of that will be a great benefit to the state and employment … but also some residual income that will go back to the National Guard,” Morris said.

In the MIDA Loan Approval Committee meeting held on the same day as the board meeting, MIDA CFO Paula Eldredge said the loan has a 2.25% interest rate, and it needs to be paid back within the next 15 years.

Morris said they expect to pay off the loan with proceeds from a bond they plan to issue later this year or early next year.

The project at Camp Williams also got the support of Joel Ferry, Executive Director of Utah’s Department of Natural Resources, at the time of its announcement last year.

Ferry told The Deseret News at the time, “We’re sharing this with the public as it will lead to additional opportunities, including the exploration of nuclear enrichment within Utah. This would help us meet the goals of Operation Gigawatt AND create leadership in manufacturing and energy security. We’re grateful to have a good partner like Utah Energy as we have that discussion.”

However, the project drew concern from others, like Salt Lake County Mayor Jenny Wilson. 

Her concerns included the location being in the heart of the state’s most populated area, and whether it could have an impact on the environment and/or public health.

Wilson also questioned the safety of Utah if this facility is built.

“Sites associated with uranium technology may attract geopolitical threats. Utah has long benefited from its strategic, low-risk position. Why jeopardize that by placing sensitive infrastructure in the population center of the state?” Wilson said in a previous statement.

Wilson also said the company behind this project “has not ruled out the eventual enrichment of uranium.”

“The public deserves full transparency, concrete answers and meaningful local input,” she said.

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