Strategy for Growth
The Kalispell Core & Rail Redevelopment project is the result of years of meticulous strategizing and extensive partnership between the City of Kalispell and the Flathead County Economic Authority (FCEDA). To encourage private business owners and developers to leverage the community's investment in new infrastructure and the trail, a number of pro-development steps have been taken and programs have been put in place to incentivize growth in the Core Area.
- B-3 Zoning has been put in place - reducing parking requirements, eliminating set-backs requirements and significantly loosening height restrictions.
- The Westside Tax Increment Finance District has been extended, enabling property taxes paid on new development to fund new infrastructure in the TIF District and reimburse some development costs.
- Montana West Economic Development's staff is prepared to assist eligible businesses and development projects access New Market Tax Credit and Opportunity Fund financing.
Business and Development Incentives
New Market Tax CreditsThe New Markets Tax Credit program provides capital for businesses, developers, and non-profits. Working with investors to turn tax credits into cash, and then use that cash to fund catalytic development projects that create jobs and expand community services for low-income people and places. Large projects work with equity investments and debt financing to create the most flexible capital stack available today. A qualifying project can receive 18-23% if its financing as a low interest loan that can be forgiven in seven years and not have to be re-paid. For additional information about how this program can be leveraged in the Kalispell Opportunity Zone contact MoFi or go to: www.mofi.org.
Big Sky Economic Development ProgramsThe State of Montana encourages business expansion and job creation with a number of programs funded in part by the Big Sky Trust Fund. Through Category I funding qualifying businesses creating new jobs are eligible for up to $5000/new job created.
Business planning, feasibility studies, Preliminary Architectural or Engineering Reports (PAR and PER) can be partially financed with Category II funds up to $25,000. All applications must be submitted through Montana West Economic Development's office where staff is ready to evaluate projects and assist businesses with the application process. |
Tax Increment Finance DistrictsThe City of Kalispell has two Tax Increment Finance Districts that overlap with sections of the Kalispell Opportunity Zone. A portion of property taxes collected in these districts can be re-invested in public infrastructure or used to reimburse developers for expenses related to infrastructure improvements or other development expenses. The Airport TIF funds will be used in 2020 to upgrade roads and add sidewalks around the new elementary school and private residential development.
Westside TIF funds were used in the development of the Kalispell Trail and Core and Rail Redevelopment project and new, additional funds will be available for future redevelopment projects along the Kalispell Trail and in the Kalispell Core Area. Contact Montana West Economic developmentMontana West Economic Development's staff can assist businesses and developers navigating the process of starting, expanding or relocating a business.
Knowledgeable about federal, state and local funding programs and managing a loan program for startups, Montana West is a resource for anyone investing in the Flathead Valley. We connect the dots on everything from business plans, financial projections, workforce training, New Market Tax Credits, TIF Districts, government contract procurement and more. Looking for investment opportunities in the Kalispell Core Area or the greater Flathead Valley? Montana West can help. |
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