Flathead Business briefs

Crop acreage reports due

Agricultural producers in Montana who have not yet completed their crop acreage reports after planting should make an appointment with their U.S. Department of Agriculture Farm Service Agency service center before the applicable deadline.

“Many USDA programs require producers to file an accurate crop acreage report by the applicable deadline,” said Les J Rispens, Acting State Executive Director in Montana. “Once planting is complete, call your local FSA office to make an appointment to report your acreage. Our FSA staff can assist producers in completing acreage reports, including providing maps.”

An acreage report documents a crop grown on a farm or ranch and its intended uses. Filing an accurate and timely acreage report for all crops and land uses, including failed acreage and prevented planted acreage, can prevent the loss of benefits.

The following 2022 acreage reporting date is applicable in Montana: July 15, 2022 for annually seeded spring crops, spring seeded alfalfa seed, forage seeding, conservation reserve program (CRP), perennial forage not covered under the noninsured crop disaster assistance program (NAP), and all other crops not required to be reported by a previous reporting date.

Mid-year economic update in Kalispell on July 28

Unemployment is close to a 50-year low while record inflation continues. Gas prices are up 50% year-over-year; rent is up 31%; and food costs are the steepest in 40 plus years. Consumer sentiment (economic indicator that measures how optimistic consumers feel about their finances and the state of the economy) is the lowest since 1952.

In an attempt to slow the economy, the Federal Reserve increased interest rates by 0.75% - the largest hike since 1994 - with additional hikes anticipated in coming months. Risk exists that if the Federal Reserve overdoes it, slowing the economy too much, they could increase unemployment and unintentionally create a recession.

With so many factors at play including the GDP shrinking at a faster rate than previously estimated; global supply chain issues created by Covid and exacerbated by the Russian-Ukraine war; record inflation and more, is at all doom and gloom on the horizon?

Join the Montana Chamber in Kalispell on July 28 for a Mid-Year Economic Update, featuring Barbara Wagner, Chief Economist – Montana Department of Labor & Industry. Utilizing current data, statistics and trends, Ms. Wagner will address inflation, federal deficits and workforce shortages and what consumers and employers can expect in the coming months.

Reserve your spot now before space fills up. Sponsorship of this event is $500 and includes your logo in the program and on the Montana Chamber website, a reserved table for six at the luncheon, and more. Contact Stacye at stacye@montanachamber.com.

Glacier Bancorp dividend

Glacier Bancorp, Inc.'s (NYSE: GBCI) Board of Directors, at a meeting held on June 29, 2022, declared a quarterly dividend of $0.33 per share. The Company has declared 149 consecutive quarterly dividends and has increased the dividend 49 times. The dividend is payable on July 21, 2022, to owners of record on July 12, 2022.

Libby awarded Community Development Block Grant

The Montana Department of Commerce announced today four Montana communities will share more than $2 million of federal grant funding through the Community Development Block Grant program (CDBG). These grants will support critical public facility, community facility, and housing projects in Montana.

“Through Commerce’s Community MT Division and the CDBG program, our goal is to help empower local governments, counties, and towns across the state,” said Montana Department of Commerce Director Scott Osterman. These grants can help build the capacity, resiliency, and resources that are needed to develop strong, vibrant communities and fund projects that will benefit many Montana families and individuals.”

CDBG Grants are awarded to:

Golden Valley County: $522,800 of CDBG Community Facilities grant funding to replace the Lavina School boiler.

City of Havre: $297,050 of CDBG Community Facilities grant funding for HVAC upgrades to the Boys and Girls Club.

Lincoln County: $600,000 of CDBG Public Facilities grant funding to connect centralized water and wastewater to the Libby Creek community.

Missoula County: $600,000 of CDBG Housing grant funding for the expansion of the Poverello Center to provide homes and supportive services to veterans.