MONTANA NEXT GENERATION ANALYSIS
AUGUST 2020
COMMUNITY & ECONOMIC DEVELOPMENT TOOLS
Image credit: Gardiner, Montana by Kerry Breiningart via Unsplash
THE SPONSORS
In partnership with over 50 additional
contributing sponsors.
Image credit: West Glacier, Montana by Tevin Trinh via Unsplash
▸ A&E Architects
▸ Anaconda Local Development Corporation
▸ Bear Paw Development Corporation
▸ Beartooth RC&D
▸ Big Sky Economic Development
▸ Billings Chamber of Commerce
▸ BNSF
▸ Bozeman Area Chamber of Commerce
▸ Butte Local Development Corporation
▸ City of Billings
▸ City of Bozeman
▸ Cushing Terrell
▸ Downtown Billings Alliance
▸ Downtown Bozeman Partnership
▸ Eastern Montana Impact Coalition
▸ Express Employment Professionals
▸ First Interstate Bank
▸ Glacier Bank
▸ Great Falls Development Authority
▸ Great West Engineering
▸ Headwaters RC&D
▸ Interstate Engineering
▸ John Rogers Consulting
▸ Lake County Community Development Corporation
PROJECT PARTNERS
▸ Montana Associated Technology Roundtable
▸ MDU Resource Group
▸ Montana Economic Developers Association
▸ Missoula Economic Partnership
▸ MoFi
▸ Montana Ambassadors
▸ Montana Association of Counties
▸ Montana Business Assistance Connection
▸ Montana Chamber Foundation
▸ Montana Cooperative Development Center
▸ Montana Economic Development Services
▸ Montana Manufacturing Extension Center
▸ Montana West
▸ Montana Photonics Industry Alliance
▸ Newfields
▸ NorthWestern Energy
▸ Payne West
▸ Prospera Business Network
▸ Ravalli County Economic Development Authority
▸ Rocky Mountain Bank
▸ Stahly Engineering
▸ Sweetgrass Development
▸ TD&H
▸ WWC Engineering
BACKGROUND
BUILD A COMPETITIVE MONTANA
▸Montana’s current suite of programs are over 20 years old.
▸Create a forward-looking approach to economic development.
▸Identify tools and strategies to better position the state.
▸Develop a series of recommendations, with strategies and next steps, to accomplish goals.
AUDIENCE
WHO ARE THE RECOMMENDATIONS FOR?
▸Designed to articulate roles and actions within successful EDOs, local communities, and state economic development teams.
▸Will give guidance to key decision makers to improve Montana’s competitiveness.
THE APPROACH CONDITIONS ASSESSMENT
▸Built on existing knowledge
▸Selected programs review
▸Stakeholder outreach conducted across the state
▸Private sector business survey
▸Economic and community development professionals survey
COMPETITIVE ANALYSIS
▸Extensive data analysis; 50 state comparison
▸Incentives review
▸Peer state benchmark comparison
EVERY CORNER OF THE STATE
ECONOMIC DEVELOPMENT
COMMUNITY
DEVELOPMENT WORKFORCE INFRASTRUCTURE TOURISM IDAHO NORTH DAKOTA SOUTH DAKOTA UTAH WYOMING
FIVE BENCHMARKED STATES
FIVE POLICY AREAS EXAMINED
▸People and Households
▸Workforce
▸Early Education
▸Higher Education
▸Economy
▸Business Operations
▸Innovation and Entrepreneurship
▸Agriculture Sector
▸State Revenue Structure
▸Infrastructure
STATE COMPETITIVENESS ANALYSIS
To place Montana’s performance in a national context, the consulting team conducted a
comprehensive analysis of 76 indicators covering general demographic, economic performance, as well as topics that had been emphasized in stakeholder outreach across the state.
Montana’s exceptional quality of life draws people to the state – an advantage in an economy that values talent and where remote work is
increasingly an option.
Montana’s job growth has been above the
national average and more stable than the boom and bust experienced by some neighbors.
Is the infrastructure in place to support a more tech-based economy?
KEY FINDINGS KEY FINDING 1
Expanding collaboration across economic and community development is more important than ever to improve the state’s competitiveness.
KEY FINDING 2
The most impactful economic and community development programs and tools are driven by strategy.
KEY FINDING 3
Infrastructure investments should be tailored towards innovation and remote workers.
KEY FINDING 4
There is a high demand for community development and placemaking tools throughout
the state.
BUILDING A COMPETITIVE MONTANA
MODERNIZE
1
Montana’s programs and
tools
INVEST
2
in Montanans through training &
entrepreneurship
BUILD
a unified coalition to move Montana
forward
UPGRADE
3
the state’s economic &
community structures
3 Recommendations 16 Strategies
43 Next steps
1 Coalition
Modernize Montana’s programs and tools.
RECOMMENDATION 1
STRATEGY 1.1 Establish specific strategies to target emerging industry clusters for growth and expansion beyond tourism, such as agriculture, forestry & wood products, advanced manufacturing, technology, and energy.
STRATEGY 1.2 Establish a statewide talent recruitment and retention program.
STRATEGY 1.3 Ensure the state’s economic development programs and tools are up to date and position the state to be competitive and meet industry needs.
STRATEGY 1.4 Expand the capacity of local economic development efforts, including Certified Regional Development Corporations and other local economic development organizations.
STRATEGY 1.5 Bring the Governor’s Office of Economic Development’s business recruitment function into the Department of Commerce to align program administration and proactive outreach efforts.
Economic policy development and special project functions would remain in the GOED.
Invest in Montanans through entrepreneurship and training.
RECOMMENDATION 2
STRATEGY 2.1 Convene and coordinate the economic development, workforce, and talent development organizations across the state for greater effectiveness.
STRATEGY 2.2 Expand immediate access to business and seed funding, especially in rural and tribal
communities where traditional financing is limited. Leverage the Montana Board of Investments and the Big Sky Economic Development Trust Fund principal balance.
STRATEGY 2.3 Recognize and support the engines of innovation throughout Montana.
STRATEGY 2.4 Leverage the role that small business development centers (SBDCs) have in the development and support of entrepreneurs and small businesses throughout the state.
STRATEGY 2.5 Bring together public and private sector partners to address shortages in high quality daycare and preschool facilities throughout the state.
Upgrade the state’s economic & community structures.
RECOMMENDATION 3
STRATEGY 3.1 Encourage Montana to develop a bold strategy for broadband and 5G deployment statewide.
STRATEGY 3.2 Require state leaders to remain vigilant to ensure the composition of state revenues are as stable as possible and, thus, that state funding for vital infrastructure, economic development, and community development programs remains stable.
STRATEGY 3.3 Leverage federal programs for economic development, including Opportunity Zones, with local tools, such as tax increment financing, to advance economic development projects.
STRATEGY 3.4 Prioritize community development tools that support infrastructure planning and investments, including Renewable Resource Grant and Loan Program, Community Development Block Grants, Treasure Statement Endowment Program, and Big Sky Economic Development Trust Fund
Planning Grants.
STRATEGY 3.5 Strengthen placemaking initiatives, including Main Streets and downtown development, in urban and rural communities throughout the state.
STRATEGY 3.6 Support Montana Facility Finance Authority’s loan programs for rural hospitals and proactively seek mitigations for the strain COVID-19 will potentially have on rural hospitals.
▸Bring together Montana Chamber of Commerce, MEDA, MACO, and the Montana League of Cities and Towns to form the Montana Next Generation Coalition. This
coalition will be the primary entity for implementing the Next Generation recommendations.
▸The work will center around education and advocacy of the strategies and next steps identified.
