MISSION EXECUTION
Core Pillars

  • Business Advising and Lending
  • Community Development
  • New Business Recruitment
  • Workforce Development

Big Sky Economic Development’s mission is to sustain and grow our region’s vibrant economy and outstanding quality of life, by providing leadership and resources for business creation, expansion, retention, new business recruitment and community development.

We execute that mission through a set of core programs that focus on business advising and lending, new business recruitment, community development, and workforce. In addition to our core programs BSED focuses time, expertise and resources on a set of Strategic Priorities that are defined by our Board of Directors and the BSED team, supported by information from our 2024 Impact Survey of community stakeholders and partners, Board and team planning sessions and panel discussions.

Strategic Priorities are identified as timely opportunities for catalytic economic and community development or challenges that may be holding the community back from realizing our potential economic future. In either case, BSED is in a unique position to influence, support, partner and lead efforts to seize these opportunities and address these challenges.

STRATEGIC OBJECTIVES

1

CHAMPION COLLABORATION
Executive Director & Board of Directors

OBJECTIVE STATEMENT

We know that when leaders partner for a common purpose, things get done. BSED will be a champion of collaboration among our Strategy Partners and our business and community stakeholders. Across all strategic priorities that we believe will strengthen our economic and community development success, BSED will lead with a spirit of collaboration, fostering the partnerships that are essential to success.

STRATEGIES:
Actions we plan to take to achieve objectives

  • BSED will seek to align (Strategy Partners and key stakeholders) around essential initiatives for our community— for FY25 those initiative(s) will be 1) public safety, including jail expansion 2) business mentorship to support the SD2 Opportunity School (through BillingsWorks), and 3) downtown re-development.
  • At the conclusion of the City, County, Chamber, BSED planning processes, BSED will pause and work to seek a common understanding of the respective priorities emerging from our individual planning processes to discover and set a “common set of objectives and strategies” that will positively impact our community.
  • Beginning July 2024 BSED Board meetings will feature a Strategy Partner or key stakeholder update at each monthly Board meeting.
  • In partnership with our Strategy Partners (City, County, Chamber, Downtown) we will schedule and plan quarterly meetings to sustain our common set of community and economic development objectives.
  • Twice yearly, we will encourage a Joint Leadership Meeting to report out the results of our collaboration.
  • BSED will strengthen its role as the “community’s economic development organization” and invite new communities/voices to be a part of our efforts.
  • BSED will provide quarterly updates to both City and County leadership to foster information sharing and understanding.

SUCCESS MEASUREMENTS:
What are our desired outcomes and measures of success

  • 4 Strategy Partner Meetings, 2 Joint Leadership Meetings.
  • Partner updates at all BSED Board meetings.
  • 4 Updates to City and County leadership.
2

START LOCAL: IMPACT 3,000 LOCAL BUSINESSES
Economic Development Programs Quadrant

OBJECTIVE STATEMENT

Local businesses drive our economic future. BSED will measurably impact the success and future of 3,000 local businesses. Our priority is to empower local businesses as the cornerstone of our economic future, fostering growth and community success through targeted support, outreach, and subject matter expertise.

STRATEGIES:
Actions we plan to take to achieve objectives

  • As subject matter experts, BSED will work together to support, collaborate, and assist businesses through all programs areas—advising, lending, business expansion, community development, and workforce.
  • All programs will collaborate to “Impact 3,000” businesses helping them achieve new business growth & success in measurable ways through – trainings, counseling, lending, contractor advising, mentorships, Rock31 membership, Brownfields assessments and loans, tax incentives, workforce programming, and public/private partnerships.
  • Build BSED branding and awareness strategy with a focus on celebrating and showcasing business successes that were impacted by our BSED services (led by Engagement).
  • Grow funding to sustain and enhance the BSED core program delivery (meet and exceed MI, loan revenue, and other projected revenue opportunities as a team).
  • Grow the network of Member Investor Companies and utilize that network of business experts to support our client-level work (fostering mentorships and supplementing training events with this group of willing partners).

SUCCESS MEASUREMENTS:
What are our desired outcomes and measures of success

  • Track and document impacts and report out progress on a quarterly basis toward the Impact 3,000 goal. Assess our impact to 3,000 unique businesses and report progress on quarterly basis through social media, and the annual report and mid-year progress report.
  • Areas of measurement will include businesses impacted by: trainings, counseling/advising resulting in measurable outcomes, lending through all BSF loan funds, contract awards received, grants awarded, incentives approved, workforce program participation.
  • Assess the level of awareness generated about the programs among the target audience. This could be measured through surveys, website traffc, social media engagement, and attendance at events or workshops organized by BSED.
  • Quarterly team outreach visits to businesses and/or organizations – “who we are”.
  • 90% of Member Investors retained, a new goal of 170 total Member Investors by 2026.
3

DOWNTOWN MATTERS: LEAD WITH INVESTMENT IN OUR DOWNTOWN CORE
Business Recruitment & Community Development Quadrant

OBJECTIVE STATEMENT

BSED will lead and support a P3 approach to downtown redevelopment in partnership with DBP and the City of Billings. Once-in-a-generation investment in our medical corridor means the time is now to continue strategic investment in our core.

STRATEGIES:
Actions we plan to take to achieve objectives

  • Develop the downtown opportunities map to inform BSED focus.
  • Facilitate Downtown Housing Working Group.
  • Employ our placemaking expertise using our Space2Place program.
  • Partner with Board to employ Opportunity Fund resources for projects that prioritize
    housing and mixed-use development downtown and in the EBURD.

SUCCESS MEASUREMENTS:
What are our desired outcomes and measures of success

  • Fund three Space2Place projects in our core, including a BSED specific project.
  • Support the private development of 200 new housing units in our core.
  • Lead one new business recruitment project downtown.
  • Provide technical expertise for two downtown businesses participating in Battle of the Plans.
4

RETAIN & ATTRACT QUALITY TALENT TO YELLOWSTONE COUNTY
Engagement Quadrant

OBJECTIVE STATEMENT

Talent drives business success. Strategically attract workers to relocate to Yellowstone County to increase the labor force for local employers. Continue the BillingsWorks Partnerships to support development of our local workforce.

STRATEGIES:
Actions we plan to take to achieve objectives

  • Work with DCI (Developers Council International) to conduct talent research services for Billings.
  • Develop a long-term strategy for talent attraction and retention for Billings.
  • Collaborate with BSED board and Member Investor companies to activate DCI research findings and implement BOIB into their talent attraction efforts as individual organizations and as industry sectors.

SUCCESS MEASUREMENTS:
What are our desired outcomes and measures of success

  • 5-7 target markets identified for Yellowstone County Employers as “best bet” locations for talent attraction.
  • Updated Better Off in Billings messaging defined to implement on social media, website, and campaigns that resonate with defined target audiences, both existing and new.
  • Outreach to 145 + Member Investor Companies to showcase BOIB tools and resources.
  • 50 businesses actively utilizing BOIB website and recruiter toolkit.
  • Launch targeted BOIB campaign in collaboration with industry specific group/business community
5

STRENGTHEN THE QUALITY OF OUR PLACE
Business Recruitment & Community Development Quad

OBJECTIVE STATEMENT

It’s vital that we focus on economic sustainability and the essential factors that bolster quality of place. We commit our expertise to provide meaningful progress in five essential areas, including public safety, housing, education, infrastructure, and Quality of Place.

STRATEGIES: Actions we plan to take to achieve objectives

  • Public Safety
    • Amplify the positive strides and strategic initiatives by County, City, SD2, and healthcare leadership.
    • Help to jump start the Family Justice Center for prevention and response to domestic violence.
  • Housing Availability and Affordability
    • Actively participate in local Housing Strategy Group.
    • Actively work to craft and support housing legislation for 2025 session with the Ad Hoc Legislative Committee.
    • Continue to participate in State/MT Chamber Housing discussions and connect local experts to these discussions to ensure Yellowstone County representation.
  • Quality Education
    • Support the new College Ready program by connecting private sector mentees with students at Washington Innovation Center.
    • Assist SD2 to meet objectives found in Graduate Profile research.
  • Infrastructure
    • Actively participate in Chamber Air Service Committee (ASC). Continue participation in Communications Committee and leading the publishing of ASC Newsletter each quarter.
    • Participate in airline HQ visits and industry conferences with BIL and the Chamber.
    • Provide data, technical assistance, and financial sponsorship for airline attraction.
    • Provide up to $6,000 in financial support for the success of the Montana Rendezvous for airline executive excursions and conference sponsorships.
    • Facilitate the execution of the Phase One Infrastructure Plan for the TEDD, securing and administering the pending $3.9 million EDA grant.
  • Quality of Place, especially parks and trails
    • Continue Coulson Park build-out and fundraising towards our goal of raising one million dollars.
    • 5th Ave Corridor – Work with our partners – the City of Billings, Downtown Business Alliance, Billings Industrial Revitalization District, Billings TrailNet, and others – to develop the 5th Avenue Corridor, connecting Downtown to MetraPark, leveraging/facilitating private investment and redevelopment, increasing opportunities for additional housing, and enhancing quality of life. Our work will specifically address easement and public-private partnerships with entities across this pathway, including BNSF, and promoting the anchor development of the Gazette building as a focal point of this corridor. With this focus, we will work on creating partnerships to create a path forward with key stakeholders, including BNSF.
    • South Side Pool – Support City leadership and neighborhood leaders striving to find solutions for updating and improving the quality of the South Side Pool. Once a key solution is identified, see how BSED resources can help with this critical community asset.

SUCCESS MEASUREMENTS: What are our desired outcomes and measures of success

  • Publish Air Service newsletter 6x per year.
  • Attend 4 airline HQ visits and 2 industry conferences.
  • Increase air service capacity by 15% by 2026.
  • Secure one new airline (ex. Southwest) by 2027.
  • Maintain representation on government housing boards and committees.
  • Complete Phase One Improvements to Coulson Park.
  • Complete Phase One TEDD Infrastructure Development.