FOR IMMEDIATE RELEASE February 13, 2015
Mike Wessler, Deputy Communications Director, Governor’s Office, 444-9725
Ronja Abel, Communications Director, Department of Commerce, 841-2557
Governor Bullock Announces Funding to Assist Local Business’s Expansion in Superior, Montana
HELENA – Governor Steve Bullock and Montana Department of Commerce Director Meg O’Leary announced the award of $176,376 to Mineral County to assist Superior-based business Superior Meats with business growth and expansion plans. The funds are being made available through the Community Development Block Grant – Economic Development Program (CDBG-ED).
“When businesses in communities are able to grow and expand, the greater community benefits through job creation and increased business activity,” Bullock said of the award. “These funds will help support economic growth in the community, create jobs, and support the success of a Main Street Montana business.”
Through a combination of grant and loan funds, Mineral County will be able to extend three-phase electric power to Superior Meats, a custom slaughter and meat processing facility, and provide a loan to the business to purchase equipment. Superior Meats expects to retain five jobs and create five new jobs. Matching funds are being provided by the business owner, Mineral County, and Missoula Electrical Co-op.
“We are grateful to receive these funds from the State of Montana and appreciate their continued support of job growth in our community,” said Jerry Stroot, owner of Superior Meats. “Because of this loan, we are now able to become more efficient in our production while creating new jobs.”
CDBG-ED funds are intended to be used in situations where a funding gap exists and alternative sources of public and private financing are not adequate. Eligible activities for Montana's local governments (towns, cities, and counties) include loans to businesses, customized employee training, technical assistance grants, and business infrastructure projects. Businesses must work with their local government to apply for CDBG-ED funds on their behalf.
For more information about Community Development Block Grant – Economic Development Program (CDBG-ED), please contact Debra Demarais, Section Manager, (406) 841-2736 or visit http://cdbged.mt.gov.