Economic recovery zone label could pay off ($46 million in tax-exempt facility bonds + $31 million economic development bonds) for Missoula County

It doesn’t sound so sexy, but Missoula County’s new designation as an economic recovery zone could pay big dividends.

By accepting the label a couple of weeks ago, commissioners enabled private companies and local governments to access more than $46 million in tax-exempt facility bonds through the American Recovery and Reinvestment Act of 2009.

Another $31 million is available to Missoula’s county and city governments as recovery zone economic development bonds. They can receive reimbursements of up to 45 percent of interest costs for taxable bonds issued for traditional governmental facilities or job training centers.

By KIM BRIGGEMAN of the Missoulian

Full Story: http://missoulian.com/news/local/article_ee4afab6-bec1-11de-839d-001cc4c002e0.html