BUTTE'S OPPORTUNITY ZONE
Along with the investment potential of the Butte opportunity zone additional grant funds are available to incentivize projects in the zone including Brownfields Assessments, Urban Revitalization Agency as well as numerous workforce incentives.
In Butte, Montana Opportunity Zones are comprised of bustling technology centers and locally-owned business expansion, innovative business incubators, landmark downtown mixed-use development, and growing regional energy and infrastructure development.
Uptown Butte is characterized by densely developed streetscapes of late nineteenth and early twentieth century architecture. Multi-story commercial buildings, boarding houses, worker cottages and apartment dwellings huddle together with steel headframes and other mining structures, remnants of deep copper mining activity. In combination, these elements create a uniquely urban center in what is otherwise an essentially rural region.
Through the utilization of Tax Increment Bond Financing, Butte-Silver Bow aided in the rehabilitation and renovation of Butte High School and the acquisition of the current public library building in 1989. The total investment from Butte-Silver Bow was $1.89 million. Bond Financing was also used to finance the cost of providing 258 new parking spaces at 4 sites and renovations at the historic Arts Chateau in 1994. This funding amounted to $915,000.
Why Invest in Butte?
Current Incentives & Programs
There are various economic development tools and programs that are available to support economic development projects locally, regionally, and nationally. For more information on these programs and other economic development resources, contact a representative from the contact page.
Community Development Block Grant
This program assists with providing jobs to qualified low and moderate-income Montana residents, with the goal of helping existing Montana Businesses to grow.
Economic Development Administration (EDA)
These loans enable small businesses to expand and lead to new employment opportunities that pay competitive wages and benefits. They also help retain jobs that might otherwise be lost, create wealth, and support minority and women-owned businesses.
New Market Tax Credit
A qualifying project can receive 18–23% of the financing it needs in the form of a very low interest loan that, ultimately, can be forgiven and would not have to be repaid.
Big Sky Economic Development Trust Fund
Job Creation funds are awarded by the State of Montana to local governments to assist businesses in creating stable and high-paying jobs for Montana residents.
Small Business Development Center Network
SBDC offers no-cost, customized and confidential business consulting and training to existing and startup entrepreneurs. Services include business plan development, maket analysis, marketing, management and financial analysis.
Tax Increment Funding - Urban Renewal
Grant and Loan funding available to encourage voluntary repair of existing commercial property within the District. The RRA makes loans and grants for private buildings in the uptown area, and invests in other public and private improvements.
An applicant may request up to $200,000 to assess a site contaminated by hazardous substances, pollutants, contaminants (including hazardous substances co-mingled with petroleum), and/or petroleum.
New/expanding industries will be taxed at 50% of taxable value for the first five years after a construction permit is issued. The tax rate is raised incrementally over the next five years to 100%.
Butte's Key Partners
These members work to fulfill the mission of advancing Butte’s economy by recruiting regional or out-of-state businesses to expand their operations to Butte, growing existing company operations, and partnering with entrepreneurs and companies of all sizes to promote job creation in the Butte community.