The Montana Department of Commerce has been awarded a $499,488 grant to help local businesses grow in international markets.
The grant was awarded by the U.S. Small Business Administration through their State Trade Expansion Program.
Funds will be used to sponsor Montana businesses at international trade shows, and in turn help develop relationships with international buyers.
“This is good news for Montana businesses,” Montana Commerce Director Tara Rice said. “The grant is really targeted to help businesses that are growing in Montana and area ready to make that jump to start to export to an international Market.”
The grant will also support ongoing training and technical assistance for small businesses, such as complying with international testing requirements and making sure their website is in the language of the market they’re targeting.
“Montana-made products are innovative and sought after,” Commerce Director Tara Rice said, “That’s why we support businesses along their path of startup to international exporter. Montana exports hit a record $1.65 billion last year, strengthening the state’s economy and fueling business growth.”
The state’s largest foreign market is Canada, which saw $680 million in Montana goods in 2018.
Canada is followed by South Korea ($292 million), China ($115 million), Belgium ($85 million), and Japan ($56 million).
More information about export aid provided by the Department of Commerce can be found here.