MONTANA'S ECONOMIC DEVELOPMENT REPORT CARD
Governor Brian Schweitzer’s aggressive economic development efforts have moved Montana
into the forefront of economic activity in the nation.
As a result of a good economy and sound fiscal management by the Governor; Montana
is one of only two state governments operating “in the black”. (Center on Budget
& Policy Priorities, Time Magazine)
Montana fares well in Business Facilities magazine’s most recent State Rankings:
- Overall business climate (8th)
- Best sales tax climate for business (3rd)
- Quality of life (8th)
- Cost of Labor (includes productivity) (6th)
- Most educated workforce (4th)
- Forbes magazine rates Montana as one of
the fastest climbing states in the Most Business Friendly State in Nation category
- US Chamber of Commerce and National Chamber
Foundation rate Montana as the #1 state for entrepreneurship and overall business
start-up activity. (similiar ranking from the Kaufman Foundation)
- Business Facilities magazine list Montana
as 2009 runner-up for Economic Development State of the Year.
- Trade & Industry Development Magazine awarded
Montana the Corporate Investment and Community Impace Award for both 2009 and 2010.
Montana’s economic statistics are strong:
- Montana is one of the fastest growing economies
(8th) in America over the last 3 years
- Montana's economy grew 65% over last 10 years
(gross state product increase)
- Montana scored 2nd best in economic performance
according to the 2010 ALEC-Laffer State Economic Competitiveness Index
- Montana has the 11th lowest unemployment rate
in the nation (7.1% which is 2.8% below the National average – 9.9% federally)
Montana’s taxation rankings from the Tax Foundation are good:
- Montana ranks 6th best on list of tax-friendly
states (state business tax climate rankings)
- Montana is the 8th best in combined state
and local tax burden
- Montana is the 3rd best in sales taxes for
business
- Montana is the 10th best in property tax index
Montana energy development drives the Montana economy – including these significant
increases in various forms of energy production:
- #1 in wind power growth – from 1 MW to 386
MW (from 50th to 18th) among states with at least 250MW
- Montana is the 2nd fastest growing state in
the nation in oil production
- Montana is 2nd in the nation in growth rate
for coal production among top producers
- First new coal mine in 29 years – Signal Peak
($475 M Investment – 235 good jobs)
- Montana developed more new electrical generation
capacity since1/1/2005 than the previous 20 years combined
Montana had record job growth – at record high wages
- 60,000 private sector jobs created between
1/1/2005 and 10/28/2008
- Current job creation – 5000 new jobs from
January into August
- Real state government job growth has been
kept to less than 1/4 of 1% per year over the last 10 years
