Overview of the Montana Economy The state of Montana has a population of 1,068,778 and annual population growth of 0.9% over the five years to 2019 which ranks 13 out of all 50 US states. Montana’s gross state product (GSP) in 2019 reached $47.2bn, with growth of 1.8% over the 5-years to 2019.
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Contents
What is the main economy of Montana?
Montana’s economy is dominated by the primary sector—agriculture, forestry, mining, and energy production—and by services. About one-third of the state’s workforce is employed in the service sector. The outdoor recreation industry has become important, and some high-technology industries have come to the state.
Does Montana have a strong economy?
Montana’s economy has been outperforming the national economy since the turn of the century, including having better performance during the 2007 recession and a faster, stronger economic recovery exiting the recession.Montana has the fifth fastest wage growth among states for both the five and ten year timeframes.
Is Montana a rich state?
Montana is the forty-sixth richest state in the United States of America, with a per capita income of $17,151 (2000).
What is Montana’s largest industry?
Montana’s economy is dominated by agriculture, mining, healthcare, forestry, service, and energy production. The service industry employs about a third of the workforce. The manufacturing sector accounts for about 7% of the GDP, but agriculture, real estate, and mining make up for the shortfall.
What is Montana’s biggest export?
The state’s largest manufacturing export category is chemicals, which accounted for $311 million of Montana’s total goods exports in 2018.
Agriculture in Montana depends on Exports.
| 2017 Value | 2017 State Rank | |
|---|---|---|
| wheat | $565 million | 3 |
| beef and veal | $161 million | 13 |
| grain products, processed | $90 million | 15 |
How does Montana make its money?
Beyond income taxes, Montana relies on selective sales taxes on items such as tobacco and gasoline for about a fifth of its total tax revenue.It is one of seven states with no income tax, which means it raises most of its money through those regressive sales taxes.
Who is the most famous person from Montana?
Five of the Most Famous People Born in Montana
- Getty Images for The New Yorker. Phil Jackson.
- Evel Knievel. Famed daredevil motorcyclist and cultural icon Evel Knievel was born in Butte, Montana.
- Gary Cooper. Gary Cooper was born in Helena, Montana.
- Jerry Kramer.
- Getty Images for Sony Pictures T.
What is Montana known for?
Rich deposits of minerals, including gold, silver, copper, lead, zinc, coal and oil, earned Montana its nickname as the Treasure State.
What are some fun facts about Montana?
Interesting facts about Montana
- The name Montana has a Spanish origin.
- The motto of Montana is “oro y plata” and this means “gold and silver” in Spanish.
- Butte, Montana is called the “richest hill on planet earth”.
- Montana has a very low population density.
- Montana has a large population of grizzly bears.
What rank is Montana in education?
Montana Rankings
| Higher Education | #22 |
|---|---|
| Pre-K – 12 | #36 |
Is Montana considered a poor state?
What is the poverty rate in Montana? According to the American Fact Finder 2012, the poverty level of Montana is 15.5% of the population with an estimated 152,199 people in the state living below the poverty threshold.
Where do the rich live in Montana?
Missoula
In Montana, Missoula is home to more billionaires than any other city. A total of two billionaires live in Missoula with a combined net worth of $8.3 billion. Of Missoula residents with a minimum 10-figure net worth, Dennis Washington is the wealthiest, worth an estimated $6.3 billion.
What is the biggest crop in Montana?
Wheat
Wheat is the state’s leading crop. Barley and hay are important crops as are beans, potatoes and sugar beets. The major fruit produced in Montana is the black cherry.
What’s Montana’s state tree?
Ponderosa pine
How much money does Montana have?
The total estimated government spending in Montana in fiscal year 2016 was $6.4 billion.
Estimated 2016 expenditures.
| [hide]Total estimated state spending, FY 2016 ($ in millions) | State | Montana |
|---|---|---|
| State funds | $4,014 | |
| Federal funds | $2,370 | |
| Total spending | $6,384 |
Who is the largest employer in Montana?
Talen Montana
Detailed List Of The 91 Biggest Companies In Montana
| Rank | Company | Employees |
|---|---|---|
| 1 | Talen Montana | 12,256 |
| 2 | Fringe Benefit Resources | 12,000 |
| 3 | Billings Clinic | 4,104 |
| 4 | Benefis Hospitals | 3,200 |
What is the most common job in Montana?
What Are the Most Popular Jobs in Montana?
- Office and Administrative Support Occupations with 67,620 employed.
- Sales and Related Occupations 49,960 employed.
- Food Preparation and Serving Related Occupation 46,030 employed.
- Healthcare Practitioners and Technical Occupations 29,340 employed.
Is it cheaper to live in Montana?
An amount below 100 means Montana is cheaper than the US average. A cost of living index above 100 means Montana, Montana is more expensive.
Montana cost of living is 94.0.
| COST OF LIVING | Montana | United States |
|---|---|---|
| Overall | 94 | 100 |
| Grocery | 99.6 | 100 |
| Health | 100.2 | 100 |
| Housing | 100.4 | 100 |
Is Montana a tax friendly state?
Montana is moderately tax-friendly for retirees.For starters, the state has no sales tax, which lowers living costs for everyone. It also has relatively low property taxes. On the other hand, many retirees pay taxes on Social Security retirement benefits, which is fully exempt in most other states.
Is the state of Montana in debt?
U.S. Census Bureau
| [hide]Total fiscal year 2015 state debt, U.S. Census Bureau | ||
|---|---|---|
| State | Total state debt | Per capita debt ranking |
| Montana | $3,206,612,000 | 29 |
| Idaho | $3,685,377,000 | 38 |
| North Dakota | $2,063,788,000 | 33 |
