January 16-17, 2003

ITEM 118-1502-R0103  Approval to Establish the Economic Development Resource Center; Montana Tech of The University of Montana

THAT: The Board of Regents of Higher Education authorizes Montana Tech of The University of Montana to establish an Economic Development Resource Center which will provide a focal point within Montana Tech to coordinate and facilitate the numerous economic resources that are available within the institution with those of local economic development agencies. This Center will provide ongoing economic development support for businesses and industries located in Southwest Montana and will identify opportunities to assist new and expanding companies.

EXPLANATION: The proposed Center will reside within the Business and Information Technology Department of the School of Humanities Social Science and Information Technology. Montana Tech of The University of Montana aims to establish itself as a supporter of economic development in Southwest Montana. The purpose is to create an Economic Development Resource Center on the campus of Montana Tech that would provide information and technical assistance to local development agencies and businesses in Southwest Montana. The mission statement for the Center is:

The Economic Development Resource Center will attempt to maximize the various economic resources that exist at Montana Tech to assist the efforts of economic development agencies at both the local and state levels to create jobs and grow the economy.

Funding for the Center will come from a two-year Department of Commerce Small Business Administration grant. No State of Montana resources will be sought to fund the operation of the Center.

The completed signature page resides on file at the President's Office, The University of Montana-Missoula.