August 6, 2009

$10 million for distressed timber companies

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Stimulus money is flowing into Montana’s timber industry, to the tune of more than $10 million within the next few weeks. And it won’t be sitting around in anybody’s debit account.

“We’re very confident that all of the loan funds will be out the door in the next 30 days, if not sooner than that,” state Commerce Director Tony Priete told the Missoulian this week. The money is targeted to help Montana’s sawmills and other wood products businesses in western Montana weather the economic downturn, writes reporter Mike Dennison.

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