Montana Governor Steve Bullock today signed into law his Quality Jobs Plan that will incentivize businesses to grow, expand career opportunities, and lower taxes on Main Street businesses.
“Small businesses are the heart of Montana’s economy and the job creators of today and tomorrow,” said Governor Bullock. “In order to grow our economy, we need to make sure Montana continues to have one of the friendliest business climates in the country and that employers have access to a trained and talented workforce.”
As part of the Quality Jobs Plan, HB 308 will provide Montana businesses with a $750 tax credit for every position hired where the worker is offered on-the-job training through the Montana Registered Apprenticeship unit. For every veteran hired and given an apprenticeship opportunity, businesses will be provided a $1,500 tax credit. The apprenticeship tax credit will provide veterans opportunities to apply the skills and leadership they learned while serving in the military to industry sectors across Montana. Apprenticeships provide earn-while-you-learn training opportunities in almost 1,000 occupations.
Additionally, HB 226 will give local governments the option to waive up to 75 percent of new or expanding businesses’ equipment tax obligation in the first five years of operation. In 2013, Governor Bullock cut the business equipment tax for every Montana business and eliminated it for two-thirds of all Montana businesses. HB 226 is a further step to waive tax obligations to allow businesses to create more jobs and pay higher wages.
Governor Bullock also signed into law another measure to provide tax incentives for businesses. HB 614 will allow Montana to maintain its national lead in pulse crop production by providing tax incentives for the construction and operation of pulse crop processing plants in Montana.