Job Creation

The Big Sky Economic Development Trust Fund Program (BSTF) Job Creation funds are awarded to local and tribal governments in the form of grants or loans to assist basic sector businesses in creating good paying jobs for Montana residents.

Please reference the application information and guidelines for further information on the eligible activities and requirements for funding. It is highly recommended that potential applicants contact the Department for guidance and funding availability before submitting a formal application.

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)

Applications to the Big Sky Economic Development Trust Fund (BSTF) are accepted through the funding portal https://funding.mt.gov.

The following items are required:

  • Application Form
  • Business Plan
  • Financial Statements (Historical/Projections) comprises of the Balance Sheet, Profit & Loss and Cash Flow
  • Benefit Certification Form if benefits are to be included in the calculation to meet the BSTF required wage rate.
  • Hiring Plan refer to the Guidelines for specific requirements
  • Training Plan (if the proposed use of funds is for workforce training);
  • Local Government or Tribal Government Resolution.

Guidelines

Job Creation Application Guidelines are available, and includes more information about the program specifics, including eligibility, penalties, procedures and other requirements.

Application Submittal:

The funding deadlines for Job Creation Projects are June 16, 2021, September 15, 2021, December 15, 2021 and March 16, 2022

If you should have any questions about managing your Big Sky Economic Development Trust Fund Program (BSTF) award, please contact your BSTF Liaison. Staff is here to assist the Awardee with effective start-up and implementation of the project.

Reporting

Progress Reports, Job Creation Reports and Job Creation Certifications are required to be submitted with each draw request and quarterly until the BSTF Contract has been closeout by the Department.

Forms

The following forms are used for managing Job Creation Projects: