Belgrade receives money to help local business, Bacterin grow

A high-tech Belgrade company will be able to buy more equipment and hire more people with the help of a low-interest loan from the state and the cooperation of city officials.

The Montana Department of Commerce recently awarded the city of Belgrade a $400,000 Community Development Block Grant.

By ERIN NICHOLES Chronicle Staff Writer

http://bozemandailychronicle.com/articles/2004/01/18/news/belgradebzbigs.txt

The city plans to turn around and loan $370,000 to Bacterin, Inc. http://bacterin.com/ at a low interest rate to help the company expand.

Belgrade will use the remaining $30,000 for administrative costs related to the loan, City Manager Joe Menicucci said.

"The condition on the grant is that it has to be loaned to Bacterin," he said. "We’re very fortunate to have a company like Bacterin in the valley. They’re creating jobs … and we’re trying to provide additional jobs and job opportunities and in the valley."

Bacterin, located at 600 Cruiser Lane, opened in 1998. The company puts bioactive coatings on medical devices, such as artificial hips and knees, that help fight infection and help patients adjust.

Bacterin also conducts independent testing services for medical device companies.

Bacterin currently employs 20 people in the Gallatin Valley, and three more in Salt Lake City.

Bacterin will use the loan to buy new equipment, expand its product and hire about 24 new employees over the next two years, company president Guy Cook said.

"They’ll probably be manufacturing jobs," he said.

Bacterin and Belgrade applied together for the loan, which is funded by the U.S. Department of Housing and Urban Development.

"We’re really happy that the state believes in our technology and is supporting us," Cook said.

Bacterin also recently received a $400,000 loan from the U.S. Small Business Administration to help pay for the expansion, Cook said.