This EDA investment supports the southeastern montana development corporation with the research and development of new resources and technologies to support economic diversification and recovery…

This $250,000 Economic Adjustment Assistance Project Grant from the Department of Commerce Economic Development Administration will support the Southeastern Montana Development Corporation in researching and developing new economic opportunities in southeastern Montana. The project aims to study the potential for extraction, development, commercialization and utilization of hydrogen, rare earth minerals, flue gas/formic acid and carbon/graphene to diversify the local economy and recover from job losses in coal and from the Covid-19 pandemic. Research will determine which technologies and resources future economic development efforts should prioritize to increase resilience. Once complete, the project is intended to help the region diversify its economy, create and retain jobs, and strengthen resilience in an area impacted by coal industry decline.

This EDA investment supports the southeastern montana development corporation with the research and development of new resources and technologies to support economic diversification and recovery from both the negative economic impacts of the coronavirus pandemic and the significant loss of coal-reliant jobs in the region. The project will study the potential for extraction, development, and potential utilization and commercialization of four key resources in the region: hydrogen, rare earth minerals, flue gas/formic acid, and carbon/graphene. The research will be used to determine which technologies and resources future economic development efforts should focus and will identify the best strategies for doing so to increase economic resilience and activity in southeastern montana region. Once completed, the project will help the region diversify its local economy, create and save jobs, and advance economic resiliency to an area that has been impacted by the decline in the coal industry.