BILLINGS — St. Vincent Regional Hospital unveiled a nearly $1 billion construction plan to build a new facility that will open in 2029.

The 14-story facility will replace the current hospital and will be built on the current St. Vincent's campus, but it will be located to the east of the current building and closer to North 27th Street, in what is currently a parking lot.

Construction for the project will begin in the spring of 2025. Once it's completed, all current services from the old building will be transferred over.

St. Vincent Regional Hospital President Lee Boyles addressed a packed room at the Big Sky Economic Development with excitement Tuesday morning and later told MTN that the new building will take their care to another level.

"It's going to be second to none when it comes to quality, safe, and really technical care," Boyles said. "We'll be able to open up more beds, more rooms, and more operating rooms as we continue to grow as the community continues to grow."

Boyles said the new building will be 737,000 square feet and will be built with expansion and technological advancements in mind. But he was also excited about what the new facility could provide to the local economy.

"I'm super excited for what this means, not only for us and our healthcare delivery standpoint, but what it means economically for Billings," Boyles said.

Big Sky Economic Development Director Steve Arveschoug said it will add to an already booming industry in Yellowstone County. Arveschoug said that currently 20% of the jobs in the county are related to healthcare.

"We're seeing our role as the leader in healthcare grow," Arveschoug said. "We'll see more employment, more private investment that's going to drive our economy."

Arveschough said the five-year construction will also benefit the economy by bringing hundreds of workers — and their businesses — to Billings.

"This investment just takes this role and responsibility as a healthcare leader to another level," Arveschoug said. "(Construction employees) are not working 24/7. The rest of the time they're out spending money in our community, and they become a part of our community."

As of now, the project is expected to cost less than $1 billion, but a specific total cost wasn't provided Tuesday. There was a palpable excitement in the room — much to the thrill of longtime Montanan Boyles.

"To be a part of building a hospital just doesn't happen all the time," Boyles said with tears in his eyes. "Just the impact it'll have. My parents have come to St. V's ever since I was little, so yeah, it's big."