1. MISSOULA ECONOMIC PARTNERSHIP INVESTOR BREAKFAST JUNE 22, 2017
INVESTOR LUNCHEON
March 1, 2017

2. Employment and Labor Force Growing in Missoula County
Difference is the number of unemployed – not many, just over 2,300 people
Source: Local Area Unemployment Statistics (LAUS) from

3. Strong Personal Income Growth
Between 2012 and 2015 Missoula’s per capita personal income rose about $1,800
Missoula per capital income has remained between 95-97% of MT per capita income since 2012
Source: US Bureau of Economic Analysis, from

4. Personal Income Growth County Comparison
Missoula’s per capita personal income lags behind other Montana metropolitan areas
Source: US Bureau of Economic Analysis, from

5. Real Income Growth
119th puts Missoula in the top 3rd
Strong real income growth every year but 2013
Real income measures personal income against inflation to track the purchasing power of individuals
From Missoula was 119th out of 382 Metropolitan Areas in the U.S. for personal income growth
Source: Personal Income from Bureau of Economic Analysis at
and Inflation from U.S. Bureau of Labor Statistics accessed at

6. Labor Force Participation by Age
Labor force participation is lowest on the ends – potential to recruit more 45 to 64 year olds in Missoula
BUT – Important to note that Missoula’s LFP is already higher across the board than MT as a whole
Source: American Community Survey (ACS) accessed at factfinder.census.gov

7. Workers from Outside Missoula County

8. New Workers from Migration?
Missoula Averaged a net of +357 people per year

9. Growing Momentum in GDP Growth
81st puts Missoula in the top quarter
Strong GDP growth that outpaces the state every year but 2011 and 2013 (Bakken boom, fed gov shutdown)
In 2015 Missoula was 81st out of 382 Metropolitan Areas for per capita real GDP growth
Source: Gross Domestic Product from Bureau of Economic Analysis at

10. Highlights Missoula’s economy is doing well.
Unemployment rates are low, but not the lowest in the state
Personal income is growing faster than the state and nation, but overall lower than other MT metro areas
In the top third fastest growth among US metro areas
GDP is growing faster than the state as well
In the top quarter fastest growing among US metro areas in 2015

11. Specific Industry Employment Changes, 2011-2015
Top 10 Job Adding Industries: Missoula County
Jobs Added
Job Growth
Average Annual Wage
Wage Growth
Food Services and Drinking Places
714
15.0%
$15,184
12.8%
Ambulatory Health Care Services
439
12.4%
$53,240
10.8%
Specialty Trade Contractors
225
17.2%
$42,680
17.4%
Accommodation
194
16.2%
$22,316
17.0%
Construction of Buildings
168
36.4%
$42,640
13.1%
Charitable Organizations
166
12.5%
$26,500
14.6%
Motor Vehicle and Parts Dealers
164
17.1%
$46,809
Food and Beverage Stores
162
13.8%
$22,304
4.3%
Insurance Carriers & Related Activities
145
20.6%
$61,177
16.0%
Agriculture & Forestry Support Activity
114
54.6%
$75,158
16.1%
Restaurants and bars adding a lot of workers
Hospitals and healthcare growing
Insurance, Ag Support both adding very high wage jobs.
Source: Quarterly Census of Employment and Wages (QCEW) accessed at

12. Change in Education of Employed Workers 2011-2015
HS or less educated workers have grown the most. Indicative of the types of jobs added (remember large additions in retail, accommodations and food, even health care industries). Also may indicate that employers are hiring what is available – in the recession it was easier to ask for more education even if it wasn’t needed, now that is less possible.
Source: Quarterly Workforce Indicators (QWI) accessed at

13. Productivity Growth in Most Industries
Employment Change
GDP Change
Past years we have talked about the worker shortage and employers needing to adapt. This would suggest that in some cases employers are learning to produce more with less – either through smarter hires, technology adoption, or employee development
Source: Employment data from Quarterly Census of Employment and Wages (QCEW) accessed at
GDP data from Bureau of Economic Analysis accessed at

14. Growth of Young Businesses
Even though companies 2-3 years old were only 4% of total employment they added 20% of new jobs
Even though companies 2-3 years old were only 4% of total employment they added 20% of new jobs
Signals an environment compatible with entrepreneurship and innovation
Source: Quarterly Workforce Indicators (QWI) accessed at

15. Small and Medium Size Firms Adding Jobs
Companies with fewer than 20 employees created 50% of new jobs between
Even though companies with <20 employees were a quarter of jobs in 2011 they added 50% of new jobs. Medium sized firms also showed strong growth.
Source: Quarterly Workforce Indicators (QWI) accessed at

16. Real Estate
$248.7 million in building permits (1,529 total) issued in 2016
Stockman Bank $16.2 million
Southgate Mall Carmike Theater $7.9 million
Missoula County Public Schools $12 million
Grizzly Champions Center $10 million
Source: City of Missoula Development Services

17. MEP Activities 2016-2017 MEP assisted 71 companies (July-May)
5 site relocation visits from businesses outside MT
53 companies assisted with business retention and expansion
Applied to leverage more than $1.7 million in state and federal incentive grants for job creation, business planning and training

19. Grant Activity
MEP took over BREDD’s portfolio of Big Sky Economic Development Trust Fund grants in July 2016
BREDD had 6 job creation and 6 planning grants totaling $2.4 million in assistance in July
Since July, MEP has submitted 17 new grant applications requesting a total of $1,782,210 to help Missoula companies create more than 250 new jobs and assist 7 businesses with expansion planning
BREDD and Missoula County have leveraged more than $7.5 million in grants to assist Missoula businesses since the BSTF program began

20. Community Leadership and Outreach
MonTec Board
John Ruffato Business Startup Challenge
Missoula Downtown Association Board
United Way of Missoula County Campaign Committee
Missoula Midtown Association Board
Montana Economic Developers Association Board
Missoula Chamber of Commerce Board
UM School of Business Administration Advisory Board
UM President Search Committee

21. Planning, Events and Speaking Engagements
Innovate Montana Symposium
Missoula Chamber Shared Resource Guide
Market Montana Symposium
Ignite MT
Seeley Lake Resource Team
Missoula Sunrise Rotary Club
Last Best Conference Planning Team
Montana Tech Tour
Quest Montana Marketing Analytics Forum
Missoula Chamber – State of the Community
MEDA Rotunda Day
BBER Economic Outlook Seminar
City of Missoula Community Needs Assessment
Leadership Missoula
Hellgate Venture Network
USDA Small Business Resource Conference
One Million Cups
Innovate UM
Development Community Meetings
Masters of Science in Business Analytics – Cohort Presentation
Montana High Tech Business Alliance Member Receptions
City Club Missoula
Montana High Tech Business Alliance – Kauffman Foundation Entrepreneurship Event
Missoula Design Standards Forum

22. Strategic Initiatives
Air Service Revenue Guarantee
Missoula Workforce Study
Missoula Housing Study

24. Sources
Chris Bradley, Economist, Montana Department of Labor & Industry
US Census Bureau
US Bureau of Labor Statistics
US Bureau of Economic Analysis