According to a recent survey by the University of Montana Bureau of Business and Economic Research, Montana’s high-tech companies overcame and even benefited from the dynamics of a pandemic recovery in 2020. This helped the state generate more than $2.9 billion in revenues with growth rates up to seven times faster than the overall state economy. Montana’s high-tech industry now employs more than 15,772 workers with an average salary of $73,100, according to the Montana High Tech Business Alliance.
New or Expanding Industry Tax Abatement: Offers a tax abatement of up to 75% for the first five years of operation to businesses that earn half or more of their annual gross income from out-of-state sales.
New Markets Tax Credit: Offers credits that can be used or sold for projects that have at least a $4 million investment.
Primary Sector Workforce Training Grant: Offers up to $5,000 for training expenses per eligible job created.
Big Sky Trust Fund: Offers incentives of up to $7,500 per job for job for land, equipment, rehabilitation costs and employee training for projects in high-poverty areas.
The Montana Department of Commerce announced in October 2021 an additional $10 million to the Workforce Training Grant Program to help close the skills gap, cre- ate more good-paying jobs and expand opportunities in the state. Eligible businesses can receive up to $3,000 per employee with a maximum allocation of $210,000.