Focus on Entrepreneurship

Montana is No. 1 in U.S. for entrepreneurship

Flathead Business Journal

Montana ranks first in the nation for entrepreneurs and is a top spot for economic growth, according to a new report from the U.S. Chamber of Commerce.

The report – “Enterprising States: Creating Jobs, Economic Development, and Prosperity in Challenging Times” – looks at the success of state-driven economic development by evaluating state  policies, practices, job creation and other economic outputs. It says federal American Recovery and Reinvestment Act dollars have helped jumpstart the U.S. economy, but that state efforts will become increasingly important for driving continued economic growth over the next decade.

Montana is noted as a state on the move, with a first-place ranking for the category of Entrepreneurship and Innovation Performers. The state also made the top 10 for Overall Growth Performers.

“This is excellent news, but it’s no surprise,” Gov. Brian Schweitzer said in a prepared statement. “As a state, Montana is a leader. By nature, Montanans are leaders. We are entrepreneurs. We make smart choices; we do more with less and we make it work. Like the report says, our successes are significant and they’re getting noticed.”

Montana’s Entrepreneur Development Program, Indianpreneurship programs and Montana Technology Innovation Partnership — all administered by the Montana Department of Commerce —  were noted as important resources.

The report also acknowledges Montana’s streamlined permitting and regulatory processes for new and expanding businesses and the state’s tax and regulation policies implemented to spur the development of new and innovative energy technologies.
“Bolstered by growth in the energy field, especially in renewable wind energy, Montana is well positioned for new job creation,” the report states. “In most cases this job growth will be driven by small- to medium-sized knowledge-based enterprises that are attracted to the state for its high quality of life and access to the vast outdoor recreational opportunities.

While Montana’s energy and mining clusters added a combined 8,400 high-paying jobs to the state since 2002, Montana’s greatest source of national dominance came from the collection of arts, entertainment, recreation, and visitor industries, perhaps a sign that the rest of the nation is beginning to discover the Big Sky country, the report notes.
Montana is also beginning to see the emergence of smaller clusters in chemicals, apparel and textiles, and fabricated metal products. 

To view the report go to http://ncf.uschamber.com/enterprising-states/