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Montana Department of Commerce Awards $700,000 in Funding to Pondera County & Intercontinental Truck Body

The Montana Department of Commerce has awarded a combined
total of $700,000 to Pondera County and Intercontinental Truck Body http://www.itbusa.com/ , to
support business improvements and workforce training within the company,
and economic development in Pondera County.

Commerce has awarded Pondera County $400,000 in funding from the
Community Development Block Grant – Economic Development (CDBG-ED)
program. Pondera County will use the funding to assist Intercontinental
Truck Body with a loan for working capital, equipment purchases and
administrative costs.

The Department of Commerce has also awarded Intercontinental Truck Body
with a $300,000 grant from the Workforce Innovation in Regional Economic
Development (WIRED) program. The company will use the funding to train
new and incumbent workers.

"A fruitful economy starts with a well trained workforce and good paying
jobs," said Governor Brian Schweitzer. "These grant awards are tools to
strengthen both the workforce and economy of Pondera County."

"Together these awards are a perfect example of how a public/ private
partnership truly benefits business in Montana," said Anthony Preite,
Director of the Montana Department of Commerce. "This partnership will
give both a Montana business and a local workforce new opportunity, and
that will fortify the business climate in our state."

The awards must be used to create a minimum of fifteen new jobs for low
to moderate income workers. Sweetgrass Development will assist with the
administration of the project through the revolving loan fund and the
Pondera Port Authority will act as project manager.

Montana’s Community Development Block Grant Economic Development
(CDBG-ED) program is designed to stimulate economic development activity
by assisting Montana’s private sector to create or retain jobs for low
and moderate income persons.

The CDBG-ED program includes support from the Community Development
Block Grant Program funded by the U.S. Department of Housing and Urban
Development, and the Economic Development Administration.

In January 2006, the U.S. Department of Labor approved Governor
Schweitzer’s application for the WIRED initiative. Montana’s application
was one of only 13 approved nationwide. The Montana Department of
Commerce is managing a grant program under contract with the Montana
Department of Labor and Industry to implement part of the WIRED
proposal.

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Marissa Kozel

Public Information Officer

Montana Department of Commerce, Director’s Office

406-841-2772

[email protected]

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