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• Population (2008): 967,440
• Largest Cities (2008): Billings, 103,994; Missoula, 68,202; Great Falls, 59,251; Bozeman, 39,442;
Butte-Silver Bow, 32,803
• Targeted Industries: Energy (biofuels), Manufacturing, Construction, Value-Added Agriculture, Tourism
• Key Incentives:
New Industrial Property Tax Abatements, Big Sky Economic Development Trust Fund, Alternative
Fuel Business Tax Credit
• GDP (All Industry 2008):
$35.9 billion*
*Bureau of Economic Analysis, U.S. Department of Commerce
New Industrial Property Tax Abatements make new industrial property-including real and personal property-eligible for a reduced taxable valuation rate of 3% (normally 3.3% for real property) for the first three years of operation. Personal property is taxed at 3%. New industry means any organization that establishes a new plant in Montana for the operation of a new industrial endeavor, as distinguished from a simple expansion, reorganization, or merger of an existing industry.
The Microbusiness Finance Program allows Montana-based businesses with 10 or fewer employees and gross annual revenue of less than $500,000 to apply for a microbusiness loan of up to $35,000. These revolving loan funds are administered through non-profit MicroBusiness Development Corporations (MBDCs) located throughout Montana. MBDCs also provide training and technical assistance to the business owner.
The Montana Small Business Innovation Research Program (SBIR) helps companies compete for more than $1 billion dollars in federal grants that have been earmarked to fund R&D. Prior to the creation of the SBIR Rural Outreach Program, businesses in rural states like Montana competed very poorly for SBIR funding at the national level. Recognizing the need to help Montana businesses compete more effectively, the Department of Commerce created the SBIR outreach program in 1999. In 2000, 24 Montana companies won more than $5 million in grants, and in 2001 35 companies captured more than $11 million.
The Small Business Technology Transfer (STTR) Program is a cooperative research partnership between small business and a research institution. The purpose of this partnership is to stimulate technological innovation through the research, development, and commercialization of the new products, processes or systems that match the needs of a participating federal agency. STTR distinctively requires a small business to work collaboratively with a non-profit research institution. The small business must complete no less than 40% of the work, and the non-profit research institution must complete a minimum of 30% of the work. Either party, or subcontracts to other entities, may complete the remainder.
Explore detailed community demographic information at ZoomProspector.com
2009 Business Facilities Rankings Report
State of the Year Award: Michigan
