The Sidney herald., 1957-05-02
'.MOnf0n0 This Week"

marked Sob,00O for a contlnua'
ton of this work.
On being reactivated two year.
ago, the board selected Perry F
RoyS, an economics instruction
at the School of Mine sin Butte
as its director. His staff con-
sists of a planning assistant, Da-
vid Harley, and an office secre-
tary. An impressive amount o.
spadework has been done, but
only a beginning has been made
The law provides for an adj
visory council. Members of the
council reflect specific phases OF
Montana life and the council is
an amalgam of the interests thai
round out the picture of Mon
tana's achievements and aspira-
tons. Tied in with what we may
summarize as industrial develop
ment are the educational and So
cial aspects that are the con-
commitants of economic growth
and stability.
Because of its governmental
status the planning board a do
a job that no private civic agen-
cy is in a position to do as well.
The Montana Chamber of Com
merce has done creditable pion-
eering in industrial promotion,
and local chambers of commerce
have been commercially diligent
in advancing development of their
respective communities, but in
vestors are apt to feel that the
enthusiasm of such groups may
stray somewhat from cold object
ivity. The state planning board
can hardly escape pro-Montana
bias, but its presentations are
likely to be viewed with more
confidence.
Efforts directed at developing
Montana's natural resources are
as old as the commonwealth and
as new as today. 1t is a fascinat-
ing story in which, in the earlier
periods, the lure of mineral
wealth was the dominant theme.
The great seal of the state of
Montana has an inscription mean
ing gold and silver. Montana was
called the Treasure State.
The impact of gold discovery
in 1862 was so strong that within
two years Montana became a
territory. That colorful and tur-
bulent era of a few decades was
followed by the really formidable
and stubborn task of translating
Montana's natural resources into
substantial and continuing CO.
.omic progress. Montana still is
at this task today, and it remains
formidable task.
Stated in oversimplification,
what Montana needs is more VEN
lure capital - venture capital
rom the outside and venture
our people T willing to
invest at home. Investment of
money in industrial or business
enterprises is rarely a matter of
sentiment. Montana's superb
scenery and other appealing at
tributes are indeed magnetic, but
when it comes to putting per-
millions of dollars into an
Industrial plant, these r Incl
lental rather than primary con-
alterations.
What the hard headed investor
demands before he invests CAPT.
al in Montana, or elsewhere, is
fundamental and demonstratable
acts. These are the facts that the
tate planning board supplies.
)ne thing we should keep in
mind is that even though all 9TH
requirements meet the test,
he prospective investor is great
y influenced by the economic or
BUSINESS climate. He wants to
now whether the attitude of the
legislature, taxing authorities and
he public itself is encouraging to
Iew capital or whether the new
Enterprise would have to contend
gainst hamstringing tax laws.
You do not find it particular
zed in official reports or state
nents, but prospective investors
.pparently have the feeling that
fontana tax laws and policies are
!ot encouraging to them. High
roperty taxes are undoubtedly
hinderance to new industry.
some states which give
amporary tax concessions to new
Industries, no such concessions
re permissible in Montana, I'M
a rather recent supreme court
Interpretation of the constitution.
The way to get permanent and
Increasing tax income from an
1dustry is to give it a chance
D grow to the point where the
apital investment begins to yield
The result will be larger
ayrolls, broader contributions to
he general economy and, in
ummation, more revenue for
Governmental needs.