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$800K loan to help Missoula Marriott employee training, economic - KPAX.com | Continuous News | Missoula & Western Montana

$800K loan to help Missoula Marriott employee training, economic stimulation

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MISSOULA - The construction on a new Marriott Hotel at the site of the old Missoula Mercantile is well underway.

Now, a hefty loan from the Montana and Idaho Community Development Corporation is ensuring the project is able to create plenty of good jobs in downtown Missoula.

The Montana and Idaho CDC does what it can to help fund regional businesses grow and have used loan programs to aid the financing of several Montana projects over the years with the goal of creating good jobs.

"A hotel in Sidney, Montana; a wood products manufacturing company in Deerlodge, and then right here in Missoula -- three businesses now that really worked to create economic opportunity for low-income workers," said the program CEO and President Dave Glaser.

The program pays for these loans through grants it receives and recently won a nearly $800,000 award from the Office of Community Services and U.S. Department of Health and Human Services.

That money, too, is destined for a Montana business -- one that's seen its share of controversy over the past year -- the Marriott Hotel at the site of the old Missoula Merc.

The nearly $800,000 loan will go to help pay for employee training at the new Marriott Hotel, so staff can hit the ground running when it's time to check in the first guest.

"So it's one of those loans that will allow the hotel to get up and running and provide these jobs for many years," said Glaser.

He said the Marriott was selected because of the need to create those good-paying jobs in downtown Missoula, that's exactly right, and it'll be, these jobs will be accessible to low-income people, and those jobs will be strong jobs with benefits, and so that's exactly why right there."

Glaser was unable to divulge the details of the loan but says it is long-term and low-interest. He explained that once the loan is paid back that money will be lent out to another project deemed worthy, starting the cycle over again.

The Marriott Hotel and new Missoula Mercantile site are expected to open in December of 2018.

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