Eligible Applicants are:
- incorporated city or town;
- a county;
- a consolidated government;
- a Tribal government (including any state or federally recognized Indian tribe within the State of Montana); and
- public districts or local public entities with the authority to spend or receive public funds (i.e. County Port Authority or Airport Authority).
Eligible Assisted Business must:
- basic sector company (see guidelines for definition);
- create at least one net new eligible job in Montana;
- pay an average weekly wage that meets or exceeds the lesser of 170% of Montana’s current minimum wage or the current average weekly wage of the county in which the employee(s) are to be principally employed, including the value of employee benefits*; and
- demonstrate that the business expansion is financially feasible.
*Note: If employee benefits are to be included in the calculation for the BSTF required wage rate, the assisted business will be required to certify that they benefits meet the requirements of the Employee Retirement Income Security Act of 1974.
Limits and Match Required
The location of the project will determine the maximum funding level and match requirements:
- Businesses located in a high-poverty county
- The maximum grant or loan award is up to $7,500 for each eligible new job created
- Match required is $1 for every $2 awarded (1:2)
- Businesses located in a non-poverty county
- The maximum grant or loan award is up to $5,000 for each eligible new job created
- Match required is $1 for every $1 awarded (1:1)