This EDA investment will leverage local funds and resources in rosebud county, montana to support technology-based economic development and workforce development opportunities

The Department of Commerce's Economic Development Administration awarded a $3 million Project Grant to the Southeastern Montana Development Corporation under the Economic Adjustment Assistance program (CFDA 11.307) on September 29, 2021.

The grant funds will support the construction of a Business Innovation Center in Colstrip, Montana to address economic challenges from the closure of local coal plants. The Center will provide business support services to emerging companies, workforce training for dislocated workers, and entrepreneurial resources for the region. It is expected to lead to approximately 71 new jobs and over $11 million in private investment over nine years. The project builds on regional economic development planning led by the Southeastern Montana Development Corporation to strengthen the local economy through public-private partnerships and job creation.

The city of colstrip and the southeastern montana development corporation (semdc) are addressing the local and regional need for resilient business support opportunities in light of coal plant closures by constructing a business innovation center, which will support emerging businesses, provide training to dislocated workers, and provide a center for entrepreneurial activities for the region. The economic impact will result in the emergence and expansion of local businesses resulting in approximately 71 new jobs over nine years as well as the creation of over $11 million in private investment. This project was made possible by the regional planning efforts led by the southeastern montana development corporation. EDA funds semdc to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.