Get the free Category I Economic Development Job Creation Guidelines (pdf) - bstf mt

BUSINESS RESOURCES DIVISION BIG SKY ECONOMIC DEVELOPMENT TRUST FUND CATEGORY I: ECONOMIC DEVELOPMENT JOB CREATION PROJECTS APPLICATION GUIDELINES EFFECTIVE JULY 1, 2014, Governor Steve Bullock Meg

How to fill out category i economic development

How to fill out category i economic development:

1. Begin by gathering relevant data and information about the economic development project or initiative. This may include economic indicators, demographic data, market analysis, and any existing economic development plans or strategies.
2. Assess the strengths and weaknesses of the area or region in terms of economic development. This could involve evaluating factors such as infrastructure, workforce capabilities, business climate, and available resources.
3. Identify specific goals and objectives for the economic development project. These should be measurable and aligned with the overall economic development strategy of the area or organization. Examples of goals may include attracting new businesses, promoting job growth, increasing investment, or enhancing the quality of life for residents.
4. Develop a comprehensive action plan that outlines the specific steps and strategies to achieve the identified goals. This may involve implementing marketing and branding initiatives, pursuing business retention and expansion efforts, fostering entrepreneurship, or targeting specific industry sectors.
5. Allocate necessary resources and establish a budget for the economic development project. This may include funding for marketing and promotion, staff and consultants, infrastructure improvements, or incentives for attracting businesses.
6. Implement the action plan, monitor progress, and make any necessary adjustments along the way. Regularly evaluate the effectiveness of the strategies and tactics being employed and make changes as needed to ensure goals are being met.

Who needs category i economic development:

1. Local governments and municipalities: They play a crucial role in economic development efforts by creating policies, providing incentives, and investing in infrastructure to attract and retain businesses, create jobs, and stimulate economic growth.
2. Regional economic development organizations: These organizations work on a broader scale to promote economic development within a specific geographic area. They often collaborate with local governments, businesses, and other stakeholders to attract investments, support entrepreneurship, and enhance the overall economic competitiveness of the region.
3. Businesses and entrepreneurs: Category i economic development is vital for businesses and entrepreneurs looking to expand their operations, access resources, or take advantage of economic incentives. They often rely on economic development initiatives and organizations to provide information, resources, and support to pursue growth opportunities.
4. Community organizations and non-profits: These organizations may be involved in economic development efforts to improve the well-being and quality of life for local residents. They may focus on areas such as workforce development, affordable housing, access to healthcare, or other social and economic factors that contribute to overall community development.
5. Educational institutions and research centers: These institutions can play a critical role in economic development by providing education and training programs that meet the needs of the local workforce, conducting research that informs economic development strategies, and fostering innovation and entrepreneurship within the community.

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What is category i economic development?

Category I economic development refers to projects that aim to stimulate economic growth and create jobs in a particular region.

Who is required to file category i economic development?

Businesses and organizations involved in economic development projects are required to file Category I economic development reports.

How to fill out category i economic development?

Category I economic development reports can be filled out online through the designated platform provided by the relevant authorities.

What is the purpose of category i economic development?

The purpose of Category I economic development is to track and assess the impact of economic development projects on job creation and overall economic growth.

What information must be reported on category i economic development?

Information such as project details, job creation numbers, and economic impact assessments must be reported on Category I economic development.