• Save the date for SSTI's 2024 Annual Conference

    Join us December 10-12 in Arizona to connect with and learn from your peers working around the country to strengthen their regional innovation economies. Visit ssticonference.org for more information and sign up to receive updates.

  • Become an SSTI Member

    As the most comprehensive resource available for those involved in technology-based economic development, SSTI offers the services that are needed to help build tech-based economies.  Learn more about membership...

  • Subscribe to the SSTI Weekly Digest

    Each week, the SSTI Weekly Digest delivers the latest breaking news and expert analysis of critical issues affecting the tech-based economic development community. Subscribe today!

Montana Legislature Approves $46 M Economic Development Package

May 19, 2000
  • Forward logo
  • LinkedIn logo

After two years of partisan politics and court battles, the Montana legislature last week overwhelmingly passed HB 1, a $46 million, five-year appropriations package to fund several state science, technology, and economic development initiatives. The legislation brings to close a saga that began with a successful court challenge to the funding mechanism for S&T programs. Governor Marc Racicot called a special session of the legislature this year specifically to address the need for funding. 

HB 1 provides $13.3 million for the current biennium ending June 30, 2001, and $8.2 million each fiscal year thereafter until June 30, 2005. The Department of Commerce will receive $12.6 million over five years for 32 specific infrastructure, water, and wastewater projects around the state. The balance of the bill’s appropriations will be divided among the following science, technology, and economic development programs: 

  • A one-time appropriation of $4.4 million for the Board of Regents to use as state matching grants for the EPSCoR programs 
  • A one-time appropriation in FY 2001 of $2.35 million for the new Research and Commercialization Trust Fund and $150,000 for the Board of Research and Commercialization Technology for administrative costs.
  • Annual appropriations of $4.85 million are provided for FY 2002 through 2005. The fund will support loans and 1:1 matching funds for public and private research and commercialization projects. At least 20 percent of the projects must be related to agriculture. Interest earned on unexpended monies remains with the Trust Fund. 
  • $1.25 million annually for the Growth through Agriculture program 
  • $600,000 annually for reimbursing tax increment financing industrial districts 
  • $425,000 for certified communities for matching local economic development funding 
  • $350,000 annually for business recruitment 
  • $300,000 annually for export trade enhancement 
  • $200,000 annually for the Montana manufacturing extension center at Montana State University-Bozeman 
  • $125,000 annually for the small business development center 
  • $65,000 annually for a cooperative development center, and 
  • $50,000 for the state’s SBIR assistance program 

The bill can be viewed on the Montana legislature’s website: http://leg.state.mt.us/services/legal/00_sp_session.htm 

Montana