Local Development
The Local Development category includes primarily financial resources that are available to local and regional development corporations for operations and other purposes such as revolving loan funds. It is difficult to classify many resources because they serve dual purposes. The Department of Commerce Economic Development Finance program (Community Development Block Grants) provides funding for business loans but also creates local revolving loan funds. It was placed under Business Resources due to the fact that providing loans to businesses is its primary goal with funding revolving loan funds as a secondary (but also very important) role. Most of the resources in this section provide funding for development corporations directly for a variety of purposes, including capitalization of local loan funds.
State Local Development
Certified Regional Development Corporations Program
The 2003 Montana Legislature created the Certified Regional Development Corporations (CRDC) program in the Montana Department of Commerce. The legislative intent of the CRDC program is to encourage a regional approach to economic development that facilitates the efficient delivery of economic development programs by supporting regional capacity building.
Federal Local Development
A federal agency housed in the U.S. Department of Commerce and provides funding for local economic development planning, infrastructure for economic development projects, and capitalization of local and regional revolving loan funds for businesses. The programs are available as grants to local and regional development entities. The Montana regional office is located in Helena at:
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US Department of Commerce
John Rogers
Economic Development Administration
PO Box 10074
Federal Building
Helena, MT 59626 - Department of Housing and Urban Development
- Another useful research tool for federal grants is the www.grants.gov web site.
Local Development
Two very important state-wide organizations that offer assistance and forums for discussion and information sharing for local and regional development organizations are listed below.
MEDA is an association of economic development professionals. They are certified community lead economic developers, business specialists, government employees, and staff members of affiliated non-profit organizations which promote or foster economic development activities in Montana. MEDA, a non-profit organization, is high on networking and mutual assistance but low on organizational structure.
