Tourism is arguably the main economic driver for Bozeman and the Gallatin Valley as a whole, competing with Montana State University for largest overall economic impact. In terms of direct, quantifiable economic impact on the Gallatin Valley, tourism generates more than $600 million annually, the result of upwards of 1 million visitors coming through every year. Moreover, not only is this sector prominent, but it is continually growing. According to the City of Bozeman, in 2008 there were more than 10 million visitors to the state of Montana, putting a combined $3 billion into our economy. In terms of jobs, the sector employs nearly 50,000 people across the state, a number that is projected to continually grow as tourism itself continues to grow. This huge influx of tourism is generally associated with the many amenities we enjoy here in Big Sky Country; they provide the necessary incentive for out-of-staters to come and put their hard-earned money into our local economy. The ...

      It has been said that without adequate transportation, economic growth is not possible. Why is that, exactly? Just to clarify, I’m not talking about standard automobile-based transportation here; I’m talking about flight.   A study by Headwaters Economics has established a direct link between economic growth and mean travel time to a major airport, showing that as mean time to an airport decreases, per capita income, mean earnings per job, and service/professional occupations increase while the degree of specialization decreases. What this means, is that the farther away you are from an airport, the worse your area’s economic performance (measured by those four indicators) tends to be.          (Graphs: “The Economic Importance of Air Travel In High-Amenity Rural Areas,” Headwaters Economics)        This is because in today’s continually changing advancing business world, it ...

              The media is all abuzz with news of the economy these days.  Be it the Internet, television, radio, or any source, all are talking about the economy.  However, there is one phrase in particular that tends to permeate the conversation: "economic growth."  What is economic growth?  What drives it?  What hinders it?  What can we do to increase it?  These questions are especially relevant to the Bozeman area, as well as to Gallatin County as a whole.             First, let's take a look at a couple of the indicators of economic growth and how they have been faring for our valley.  Three in particular seem to stand out: population growth, number of bank deposits, and resiliency to economic change.  Positive population growth and increases in the number of bank deposits are typically construed as good economic growth indicators, while the ability to ...