Big Sky Economic Development Trust Fund

About this programme

The Big Sky Economic Development Trust Fund (BSTF) is a Montana Department of Commerce program created by the 2005 Legislature (Section 90-1-202, MCA). Its legislative purpose is to create good-paying jobs for Montana residents, promote long-term stable economic growth, encourage local economic development organizations, retain or expand existing businesses, and encourage workforce development, including in High-Poverty Counties. Manufacturing ammunition components is written into the statute as a qualified economic development purpose.

BSTF is funded from interest earnings generated by the Big Sky Economic Development Fund, not from the fund's principal. Those earnings are split by law: 75% goes to Job Creation Projects, awarded to local and tribal governments as grants or loans to help businesses create net new jobs, and 25% goes to Planning Grant Projects, awarded to Certified Regional Development Corporations (CRDCs), tribal governments and other eligible economic development organizations for economic development planning work.

The Department of Commerce's own program page currently states: 'Commerce is not accepting applications at this time.' The structure and rules below come from the program's Job Creation and Planning Project Application Guidelines, the reference document the Department points applicants to; they describe how the program runs when applications are open, not a guarantee of when it will reopen.

How it works

Job Creation Projects can only be applied for directly by local and tribal governments (CRDCs and other economic development organizations cannot apply directly, though they can help implement a project if the government applicant agrees). Funding covers things like an interest-rate reduction on a commercial loan, a grant or low-interest loan for relocation expenses, rental assistance or lease buy-downs, a grant or purchase of land, building or equipment, wages of net new employees, construction materials for an expansion, and employee training costs. Administrative costs can be reimbursed up to 8% of the award or $30,000, whichever is less.

A new job only counts toward a Job Creation award if it pays the 'BSTF Required Wage Rate': 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 where the job is based (the value of benefits can count toward this). The job must be new to the company, permanent, and full time (an average of 35 hours a week); replacement, part-time, seasonal, temporary and contractor positions don't qualify.

Maximum award for Job Creation Projects: up to $5,000 per eligible net new job in a non-high-poverty county, with a required 1:1 (100%) cash match, or up to $7,500 per eligible net new job in a High-Poverty County (a county with a poverty rate above the Montana average), with a required 1:2 (50%) match. The Department can set awards above or below these figures based on job quality, pay levels and other factors, and reserves the right to reject match sources such as in-kind services, refinanced debt, projected cash flow, existing equity or an existing line of credit.

Planning Grant Projects reimburse costs such as support for business improvement districts, industrial development, feasibility studies, baseline community profiles, matching funds for federal grants, and preproduction costs for film or media. The Department generally awards up to $1 for every $1 of documented match, capped at $25,000 in BSTF funding; the application form itself notes BSTF funds requested should typically not exceed $26,250 ($25,000 for the project plus up to $1,250, or 5%, for administration). Many planning projects are approved on a 50% reimbursement basis, meaning half the cost of an eligible invoice is paid.

Applications are accepted on an open cycle, subject to funding availability, with deadlines posted on the program's website; the Department's preference is that applications be submitted through WebGrants at fundingmt.org. Once approved, the recipient must execute and return the contract within 30 days and be ready to proceed within 90 days; most Job Creation contracts run one year with an option to renew. The Department withholds 10% of the award until it verifies all contracted tasks are complete, and can recapture funds, in a lump sum or installments, if the assisted business fails to create or maintain the promised jobs or fails to provide the required match.

Who can apply

Job Creation Projects: local governments (incorporated cities and towns, counties, consolidated governments, public districts) and Tribal governments (any of Montana's seven federally recognized tribes plus the Little Shell Tribe of Chippewa Indians).

Planning Grant Projects: Certified Regional Development Corporations for projects in their region, local and Tribal governments for projects in their region (with a supporting resolution or an official letter from the Tribal Chair or President), and Local Development Organizations located in a county that isn't covered by a CRDC.

The Department will not award funding to any individual, organization or government unit currently in default on a previous Department loan or grant contract.

The business ultimately assisted must be a 'Basic Sector Company' (focused on out-of-state markets and clients) or another for-profit or non-profit business that provides significant positive economic impact beyond job creation, or an essential community service or function.

How to apply

1. For Job Creation Projects, contact the Department's Finance Assistance Bureau, the primary point of contact for starting an application.
2. Submit the Application Form (Appendix A of the guidelines) along with a business plan (or a complete copy of a current loan application to a lender such as the Montana Board of Investments or the SBA), financial statements, 24-month financial projections, and a Hiring Plan detailing job numbers, wages and a monthly hiring timetable.
3. For Planning Grant Projects, complete the Planning Grant Application Form (Appendix F) and its checklist (Appendix G); local or Tribal government applicants also need a supporting resolution.
4. Submit applications, with all attachments, preferably through WebGrants at fundingmt.org; if that isn't possible, contact program staff to discuss submitting through the State of Montana File Transfer Service.

Documents you’ll typically need

• Application Form (Job Creation Projects, Appendix A) and Application Checklist (Appendix D)
• Business plan, or a current loan application submitted to another lender
• Financial statements for the most recent 24 months (balance sheets, profit and loss, cash flow); start-ups provide what's available
• 24-month financial projections, or a CPA letter certifying financial capacity
• Hiring Plan Spreadsheet (Appendix C) with a monthly hiring timetable and a written business commitment to the plan
• BSTF Benefit Certification (Appendix B), only if employee benefits are counted toward the required wage
• Training Plan, only if BSTF funds will pay for workforce training
• Local or Tribal Government Resolution authorizing the application
• Planning Grant Application Form (Appendix F) and its checklist (Appendix G), for planning projects

Frequently asked

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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.