Montana’s entrepreneurs drive our economy – Governor Steve Bullock

This week, the Governor’s Office held our 4^th annual Innovate Montana Symposium in Butte, America.

Montana’s small businesses and entrepreneurs are the engines that drive our economy.

Each year, this annual symposium highlights the entrepreneurial spirit of Montanans and helps businesses connect with each other and with resources from the state that can help them grow.

Montana’s main street business and the state are working hand in hand towards the goals of growing Montana’s economy, creating good-paying jobs, and revitalizing communities across the state.

We’re currently in the longest economic expansion in recorded U.S. history, a decade since the recession ended in 2009.

Montana’s labor force is the largest in our state’s history.

We’ve had the 6^th fastest growth in the nation in average annual wages over the past decade. That’s real money, going to Montanans’ pocketbooks, helping them be better off financially and spend money at our main street businesses.

This rapid wage growth pushed Montana to be the 1st in the nation for median household income growth from 2016 to 2017 – growing at nearly two and a half times the national average.

Montana is a leader in photonics, bioscience, software, financial technology, and cutting-edge clean manufacturing.

We have the most acres of hemp in the entire US and are innovating in food and agricultural products.

And we have the 6^th best business tax climate in the nation.

But it’s not just our business-friendly environment that makes Montana a great place to do business, we’re also doubling down on what makes Montana the Last Best Place – fresh air and clean water, and endless recreational opportunities.

As I travel around Montana, I’m fortunate to see innovation in every industry and sector, from companies large and small.

As we work to foster the entrepreneurial spirit that runs deep in Montana, we must also continue to challenge ourselves and find ways to make it even easier to do business in the state.

With the economic growth we’re experiencing, combined with an aging population, the state is experiencing a workforce shortage. Our unemployment rate is at 3.3% — reaching a 10-year low for the third straight month.

We’re going to need innovators and entrepreneurs to put our best foot forward in finding creative ways to enhance worker training and help current and future workers gain the experience and knowledge necessary to replace retiring workers.

Montana is successful when the private sector and higher education work hand in hand to expand work-based learning opportunities and maintain a pipeline of talented and trained workers in demand jobs.

When we let creativity loose and empower people to build their dreams, we can foster home-grown talent and attract new talent to this state.

Some of the best minds in the state were together over this past week. Combined with the hard work and innovation that runs through our veins in Montana, I know that we can continue to build on our successes and take on new challenges.

Thank you for everything you do to make Montana the best state in the nation to live, work, play, start a business and raise a family.

Sincerely,

STEVE BULLOCK
Governor

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Governor Bullock welcomes Innovate Montana Symposium to Butte

The event is a networking opportunity for local business owners and entrepreneurs. It also allows them to collaborate on business and marketing strategies.