Federal Government Provides Financial Assistance to Montana Wood Products Industry

Montana Wood Products Industry Receives Funding Boost

Boost for Montana Wood Products Industry

Financial Support from U.S. Forest Service

The Montana woods products industry recently received financial support thanks to the U.S. Forest Service under the Bipartisan Infrastructure Law and Inflation Reduction Act.

Grant Distribution

A total of eight companies, including sawmills, wood products manufacturers, and logging operations, received a total of $5 million for innovation and infrastructure assistance. The funding distribution for each company is as follows:

  • Kanduch Logging: $229,973
  • Panhandle Forest Products: $300,000
  • Montana Technology Enterprise Center: $300,000
  • California Hotwood, Inc.: $189,045
  • Sun Mountain Lumber, Inc.: $1,000,000
  • Stillwater Post and Pole LLC: $1,000,000
  • SmartLam NA Enterprises US, LLC: $1,000,000
  • Panhandle Forest Products Inc.: $1,000,000

Infrastructure Assistance

The grant money will help companies upgrade and replace old machinery and equipment, as well as collaborate with the U.S. Forest Service to promote healthy forests and enhance resilience to wildfires.

Source of Funding

In addition to the Bipartisan Infrastructure Law and Inflation Reduction Act funding, the U.S. Forest Service’s annual appropriations contribute to the financial support. Following recent industry closures, the funding aims to sustain growth within the wood products sector.

Industry Growth and Community Support

U.S. Forest Service State Deputy Director of Tribal and Private Forestry, Jen Hensiek, emphasized the importance of supporting viable markets for industry success. The investments are expected to benefit local communities through employment opportunities and economic advantages.

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Read More of this Story at www.kpax.com – 2024-05-20 20:09:24

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