Big Sky Economic Development Corp. drive tops $100,000

Big Sky Economic Development Corp., the member-investor arm of Big Sky Economic Development Authority, http://www.bigskyeda.org/ has passed the $100,000 mark toward its goal to raise $500,000 a year to help support a wider variety of economic development efforts.

Billings Gazette Staff

Joe McClure, Big Sky EDA executive director, says that $127,650 has been raised since the campaign started in July 2002 to match with private funds the $500,000 Big Sky EDA receives through county mill levies. McClure said that because Big Sky EDC investors are asked to contribute one amount for three years, total commitments have reached $382,950.

"It’s very heartening to know that, despite all the news of economic crisis and war, that local businesses are willing to step up to the plate and contribute to building a better place for businesses to thrive," McClure said in a prepared statement. "These businesses are at the forefront of economic development, and through their contributions, they have become investors in the future of Billings and Yellowstone County."

Big Sky EDC will fund many projects, McClure said. One of the most important projects will be a program in which loans are made in conjunction with local lenders to help businesses expand, he said, adding that such "revolving loan funds" are often used to fill a "financing gaps" in a business development project.

He said Big Sky EDC also would fund additional business recruitment and retention efforts.

McClure said contributions to the campaign have ranged from $1,000 to $25,000. The 34 local companies that have contributed so far include: A&E Architects; ADAM Associates Advertising and Marketing; BFI Waste Systems; Billings Association of Realtors; Billings Gazette; CTA Architects Engineers; Chicago Title Company; Computers Unlimited; Corning Companies; Crowley, Haughey, Hanson, Toole and Dietrich; Cutthroat Communications; Deaconess Billings Clinic; Eide Bailly; Engineering, Inc.; Executive Property Service, Inc.; First Citizen’s Bank; First Interstate Bank; HGFA Architects; HKM Engineering; KPMG; Montana Dakota Utilities; NorthWestern Energy; 180 Communications; Reporter Office Products; Roscoe Steel; St. Vincent Healthcare; Stockman Bank; Sysco Foods; United Blood Services; US Bancorp; Wells Fargo; Wendy’s of Montana and Western Security Bank. McClure added that other businesses are negotiating with EDC to join in the campaign.

"I cannot emphasize enough the generosity of these businesses, especially in these uncertain times," McClure said. "I would also encourage other businesses who care about the economic future of our community to become member-investors in Big Sky EDC."

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