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Home My WebLink About11-07-24 Correspondence - MT Dept of Commerce - First ever Commerce Quarterly Newsletter_ Q4, 2024From:Montana Department of CommerceTo:Bozeman Public CommentSubject:[EXTERNAL]First ever Commerce Quarterly Newsletter: Q4, 2024Date:Wednesday, November 6, 2024 11:02:26 AM CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you recognize the sender and know the content is safe. Welcome to Our Inaugural Issue! Inaugural Commerce Quarterly Quarter Four, 2024 Introducing the “Commerce Quarterly,” a newsletter designed to provide constituents and stakeholders with long-form updates on The Montana Department of Commerce’s success stories, as well as innovative opportunities to engage with the department and participate in building the future of Montana’s economy. This newsletter will be delivered four times per year and will cover a variety of topics to showcase the many ways Commerce is working with businesses and community leaders across the state. Thank you for reading our inaugural issue. You can update your subscriber preferences to unsubscribe or receive more information from Commerce at any time. Update from Director Paul Green Paul Green Paul Green, Montana Department of Commerce Director Since being appointed director of the Montana Department of Commerce in January 2024, I have witnessed countless hours of dedicated work on behalf of Montanans by passionate and committed Commerce staff who provide business, infrastructure, housing, grant, data and research assistance to build a stronger Montana economy. While Commerce has diverse programs and subject matter, we are unifying the purpose of our work wherever possible. There are always specific programs that meet critical needs facing Montanans, and our team at Commerce is committed to providing Full Article and improving these services every day. In addition to those critical services, our team is working to identify more ways to collaborate across our organization to deliver a greater, more unified impact to our state’s economy. Business or visitation growth, housing availability and affordability and infrastructure planning are inherently connected through cause and effect. Commerce’s programs help both sides of this equation. My letter for this quarter contains just a small sampling of Commerce’s major efforts and successes over the past few months. Kanduch Logging, Inc. Secures $300,000 Loan from Commerce’s Wood Products Revolving Loan Fund Commerce Staff with Kanduch Logging From left to right: Olivia Kettenring, Harold (Hammy) Mithchell, Karl C. Kanduch, Kevin Kanduch, Bryan Lorengo and Chris Ryan. Photo: Amber Doyen. Full Article With its $300,000 loan from the Wood Products Revolving Loan Fund, Kanduch Logging purchased an electric firewood processor for its new facility in Anaconda. This expansion will boost local job creation, increase firewood processing capacity and contribute to environmental restoration. Full Article Montana Facility Finance Authority’s Seth Lutter Elected as Board Member for National Non-Profit Seth Lutter of the MFFA is now a board member of PACENation, a national organization supporting efficient energy financing. In his new role, Seth can advocate for Montana businesses and promote energy efficiency programs on a national stage. Seth Lutter Seth Lutter, Montana Facility Finance Authority Associate Director Business MT Finance Team Wins Governor's Award Gov. Award Pic Back row: Chris Ryan, Olivia Kettenring, Governor Greg Gianforte, Sarah Jordt, Judy Tice. Front Row: Patsy Rasch, Jamie LeMieux. Not pictured: Kathy Bartlett and the late Annmarie Robinson. Photo: Governor's Office. The Business MT Division Finance team was able to change course on how Commerce allocated funds from the Big Sky Trust Fund and get a new program stood up and accepting applications in less than 60 days. This program was fully contracted and money was dispersed in less than 120 days. This team has also come up with innovative ways to ensure equal access to programs and held trainings for socially or economically disadvantaged businesses. Lastly, this team has taken on a large digitization and file clean-up project which has made their files more accessible and easier to access and maintain. Lead Service Line Replacement Inventory Update Full Article Image by Pexels Image by Pexels The Montana Board of Housing offers a reverse annuity mortgage that helps seniors tap into home equity for additional income, giving them financial security in their golden years. With Commerce conducting recent outreach efforts to increase awareness, more seniors are benefiting from this program to support their independence. Small Business Development Center Helps Billings Woman Purchase Local Apricot Lane Apricot Lane, a well-known boutique Katherine Howland, owner of Apricot Lane in Billings. Photo: Big Sky Economic Development. Full Article franchise with a location in Billings, has changed ownership with help from the Billings Small Business Development Center. In November 2023, Katherine Howland approached the Billings SBDC with a desire to purchase the franchise location from the current owner. Unsure of what to give the lender for financing, she sought assistance with business planning and cash flow projections. Commerce Travels to Asia to Foster Business Relationships Full Article Asia Trade Mission Montana’s representative in Japan, Mako Sakaguchi; Asian Trade Manager Katie Willcockson; and Commerce Director Paul Green met with officials while in Japan. Commerce leaders recently traveled to Japan and Taiwan to strengthen business relationships and promote the state as a hub for biotech and trade. Their efforts fostered new partnerships, expanded opportunities for Montana companies and showcased our state's growing industries on a global level. Reverse Annuity Mortgage Loan Program Helps Montana Seniors Stay in their Homes Full Article Image by Pexels Image by Pexels The Montana Board of Housing offers a reverse annuity mortgage that helps seniors tap into home equity for additional income, giving them financial security in their golden years. With Commerce conducting recent outreach efforts to increase awareness, more seniors are benefiting from this program to support their independence. Commerce’s Event Grant Promotes Tourism and Contributes to Virginia City Miner’s Day Success Full Article VC Miner Day 2024 Miner's Day. Photo: Virginia City Chamber of Commerce The Event Economic Impact and Destination Event Grant Program is driving local tourism and economic growth by supporting destination events like Virginia City's Miner's Day. The event drew large crowds, boosted local business and showcased the power of community-focused tourism initiatives. More about Commerce The Montana Department of Commerce works alongside business and community leaders throughout Montana to assist in growing Montana's economy, planning for growth in our communities and facilitating affordable housing for Montanans. Commerce's programs provide funding and investment opportunities, technical assistance and research and data services. Commerce's website provides additional program information, news and events. Each edition of the Commerce Quarterly is comprised of a small sample of the many services and programs provided by dedicated staff every day. You can subscribe to receive the Commerce Weekly Roundup email that provides a short, succinct weekly update on Commerce grants and loans, meetings and events and other important dates and updates. You can also sign up for Commerce's Made in Montana newsletter, Commerce press releases and other Commerce email communications. Subscribe to More Montana Department of Commerce 301 S Park Ave, Helena, MT 59620 This email was sent to comments@bozeman.net using GovDelivery Communications Cloud on behalf of: MontanaDepartment of Commerce · P.O. Box 200501 · Helena, MT 59620-0501 Contact Us 406-841-2700 commerce.mt.gov View as a webpage Unsubscribe Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. Discover information about additional topics at Commerce. Sign up for more topics. If you have questions or problems with the subscription service, please visit subscriberhelp.govdelivery.com. Montana Department of Commerce301 S Park Ave, Helena, MT 59620 406-841-2700