Montana

CEO Guide to Site Selection

#27

Montana

CEO Rank on Best & Worst States for Business

BIG SKY IS THE LIMIT FOR TECH

According to a recent survey by the University of Montana Bureau of Business and Economic Research, Montana’s high-tech companies overcame and even benefited from the dynamics of a pandemic recovery in 2020. This helped the state generate more than $2.9 billion in revenues with growth rates up to seven times faster than the overall state economy. Montana’s high-tech industry now employs more than 15,772 workers with an average salary of $73,100, according to the Montana High Tech Business Alliance.

“Montana is in the midst of a historic economic recovery. We’ve recovered all jobs lost since the start of the pandemic, and more Montanans are working now than in our state’s history…As we lead the Montana comeback, we’ll continue making Montana more competitive with lower taxes and less red tape, so folks throughout our state can prosper and have access to greater opportunities.”

Greg Gianforte

Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

No

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

“What really sold us, though, was the friendly, welcoming and hopeful people… When I asked why people wanted economic growth, a local business leader said, ‘I want my children to have a better future in their home- town.’ Businesspeople encourage one another. Their commitment to community building was apparent.”

“We have 12 offices in some of Montana’s smallest and largest cities—and we consistently find strong talent, many educated right here in one of Montana’s public and private institutions. They want to stay in Montana for the strong quality of life and expanding opportunities.”

KEY INCENTIVES

New or Expanding Industry Tax Abatement: Offers a tax abatement of up to 75% for the first five years of operation to businesses that earn half or more of their annual gross income from out-of-state sales.

New Markets Tax Credit: Offers credits that can be used or sold for projects that have at least a $4 million investment.

Primary Sector Workforce Training Grant: Offers up to $5,000 for training expenses per eligible job created.

Big Sky Trust Fund: Offers incentives of up to $7,500 per job for job for land, equipment, rehabilitation costs and employee training for projects in high-poverty areas.

EDCs

Governor’s Office of Economic Development

business.mt.gov

Montana Business Assistance Connection

mbac.biz

Missoula Economic Partnership

missoulapartnership.com

Big Sky Economic Development

bigskyeconomicdevelopment.org

HIGHLIGHTED PROGRAM OR INITIATIVE

The Montana Department of Commerce announced in October 2021 an additional $10 million to the Workforce Training Grant Program to help close the skills gap, cre- ate more good-paying jobs and expand opportunities in the state. Eligible businesses can receive up to $3,000 per employee with a maximum allocation of $210,000.

BIG DEALS

Software company GL Solutions announced in March 2021 that it would relocate its headquarters from Bend, Oregon, to Kalispell and create 40 jobs.
Guitar manufacturer Gibson announced in March 2021, an expansion of its facility in Bozeman.
CACI International acquired Montana-based Ascent Vision Technologies in August 2020.
Credova Financial announced in October 2021 the relocation of its headquarters from Nevada to Bozeman.

BIG COMPANIES

Ascent Vision Technologies
commonFont
Energy 1
Foundant Technologies
Golden Helix
Lumenad
Stone Glacier
XY Planning Network