A plan to get Montana back on track
In Montana, summer's arrival and departure is marked by two important holidays — Memorial Day, honoring our nation's servicemen and women, and Labor Day, honoring the contributions of the American worker to our nation's success and prosperity. The law creating Labor Day was passed in 1894, which is the same year hardscrabble homesteaders established Flathead County.
As a candidate for the Montana House of Representatives, I have been out knocking on doors and listening to voters for several months. It is clear to me that the number one issue facing families in House District 4 — and our entire valley — is the economy. Today, there are nearly 5,000 people in Flathead County without jobs, and the employment picture is as bleak as it's been in a generation.
According to the Census Bureau, since 1980, virtually all of the net job creation in America has occurred in firms that have been in existence for five years or less. The picture is crystal clear — creating new jobs in Flathead County will require new Montana small businesses. Building a sustainable, diversified economy in Northwest Montana that puts people back to work will be my top priority if I am elected in November. I have put together a detailed, bipartisan plan to do just that — a plan to re-invest in Montana manufacturing and spur small business growth.
Small business start-ups need access to capital. We can do a better job of investing the $550 million permanent coal-tax trust fund back in Montana through partnerships with Montana-based financial lending institutions to provide business credit to our Montana main streets. Current state law requires that only 25 percent of this fund be made available for in-state business loans. By increasing this requirement to 50 percent, we would make available $130 million in additional capital for small business lending.
We also need to provide Montana's small businesses with a window of opportunity that incentivizes job-creating investments and supports new hires. Implementing a two-year suspension of the business-equipment tax for capital investments that create jobs and providing a $5,000 annual income-tax credit for businesses that create new jobs in targeted industries would send a clear message that Montana supports small business.
To succeed, small businesses need access to a qualified and well-trained workforce. We need to sharpen Montana's workforce with new scholarship programs that invest education funding towards our community colleges for worker retraining and affordability. As a graduate of Flathead Valley Community College and Montana State University, I am a strong advocate for public investments in higher education that puts students and families first.
Finally, we need to refocus existing programs — like the Made in Montana program — to build business skills for Montana entrepreneurs through small business training, marketing and networking. In Utah, the state has partnered with the private sector to create the Buy Utah First Program. Today more than 2,500 small, Utah-based businesses are working together with state government to educate consumers on the importance of buying local, share business expertise and build Utah's brand. We can — and must — do the same here in Montana.
We are facing challenges in Montana and America. It is time for both political parties to come together and implement smart policies that put Main Street — not Wall Street — first. In doing so, we can get our economy back on track and ensure that Montana remains a great place to live, raise our families and make a living.
Will Hammerquist lives in Whitefish and is a Democratic candidate for House District 4.