BOZEMAN — Hundreds of people gathered in Bozeman Thursday to hear stories that highlighted the growth and opportunity in Montana’s high-tech industries.
US Senator Steve Daines and the Montana Chamber Foundation sponsored the Montana on the Rise Economic Summit. Dozens of business leaders – from Montana and beyond – offered their thoughts on the future of high-tech industries from software to manufacturing to biotechnology and what Montana can do to continue to attract them.
“The state of Montana is growing; Fantastic things are happening across the state,” said First Security Bank’s Scott Sehnert.
Daines said high-tech jobs will be an important part of the state’s economy in the future.
“Montana needs more high-paying jobs with big benefits,” he said. “These tech jobs are ways we can pick up our grads from our universities here in Montana and keep them here to contribute to this innovative economy instead of exporting our children.”
Companies represented at the summit included finance companies in Helena, research and development in Bozeman and vaccine manufacturers in Bitterroot Valley. Everyone was impressed with everything Montana has to offer.
“There are a number of like-minded people, there are educational institutions, there are workers. Now Montana has that, but it’s also a beautiful place to live, which is a phenomenal pull,” said Al Thompson, vice president of strategy and transformation at GlaxoSmithKline. The pharma giant has invested $100 million to expand its Hamilton plant, which produces key components for vaccines.
“I think Montana figured out a long time ago what we’re figuring out today — I think it took something like COVID to figure that out, and that’s work-life balance,” said William Tanona, senior vice president of Corporate Development and Investor Relations for SoFi. “When we opened our office here, it was important to people that they wanted this lifestyle.”
SoFi, an online financial services company, employs more than 100 technical and product staff in Helena. Tanona said their Montana offices have some of the lowest revenues in the company.
While many of these high-tech firms have settled in “hubs” close to one another, Daines said the impact can go much further.
“The good news is it’s statewide and it’s going to be an important part of the growth of this economy in Montana,” he said. “Technology has removed geography as a constraint, so we can now do these types of high-tech jobs anywhere in Montana.”
The keynote speaker at the summit was Kevin O’Leary, a prominent entrepreneur and investor known for the Shark Tank TV show. He said there is growing competition between states to attract businesses and that Montana has the kind of business-friendly climate he’s looking for.
“Where else can we find leadership that likes business, doesn’t hate it, wants to attract it, has competitive politics?” he said.
To that end, Bitzero, a company in which O’Leary is a major investor, announced at the summit that it plans to develop a new data center near Polson in partnership with the Confederate Salish and Kootenai tribes. One of the main attractions was access to reliable, clean hydroelectric power from the Kerr Dam – now managed by the tribes and called the SKQ Dam.
O’Leary called data “the new oil” and said all aspects of the modern economy depend on it. He said Montana is a good place for data center development because of its readily available hydroelectric power and favorable business environment.
“They need data centers, and there’s no reason Montana can’t lead here,” he said. “It’s secure, it’s stable, it’s the kind of place people want their data stored.”
Bitzero CEO Akbar Shamji told reporters that they plan to initially build a 12-megawatt data center powered by a combination of hydroelectric power and other renewable sources. Then they want to expand it, with the initial target being 48 megawatts.
Speakers at the summit said that in order for Montana to continue attracting high-tech companies, the state must focus on infrastructure development and continue investing in education. They also stressed the ongoing need for housing.
Bill Moseley, CEO of GL Solutions, a software company that recently moved its headquarters from Bend, Oregon, to Kalispell, said too many communities are looking for “growth at any cost.”
“Think about the holistic perspective of your community so you can both preserve the things you’re doing great now and carry that into your future,” he said. “For example, when you get real estate prices going into the $700,000, $800,000 range, you have to think about what happens to people who have a steady income.”
Governor Greg Gianforte recognized the challenge of finding that balance.
“Our marching orders, which I got from all of you, are 1: get more good paying jobs – we do – but the second is just as important: protect our way of life,” he said.
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