AGP Executive Report

Banking: Kalispell-based Glacier Bancorp reported third-quarter net income of $104.6 million, or 80 cents per share, beating analyst forecasts; revenue also topped expectations. Energy: NorthWestern Energy and Black Hills outlined a new name, Bright Horizon Energy, for their proposed merged company. The deal still needs Montana Public Service Commission approval. Jobs: Montana’s unemployment rate fell to 3.1% in September, below the national rate of 4.2%. The state also received $4.8 million to expand employer-led workforce training. Small Business: Bitterroot Valley’s chamber and economic development authority are restarting in-person classes for business owners, covering topics such as marketing, finances and planning. Regional Growth: Bozeman Yellowstone International Airport surpassed 3 million passengers as expansion moves ahead. Campaign Economy: Montana’s 1st Congressional District race has tightened, with affordability among the issues drawing voters’ attention.

Energy & Agriculture: A proposed 650-mile Bridger tar-sands pipeline could bring payments to nearly 300 Montana landowners and new tax revenue to eastern counties, but its route near rivers and water systems raises spill concerns. The company’s pipelines have recorded 12 spills since 2012. Workforce: Montana secured $4.8 million in federal funding for employer-led job training, with reimbursements tied partly to workers staying on the job for six months. The state’s unemployment rate fell to 3.1%. Household Finances: Montana ranked third among states for falling credit limits: new accounts opened in the second quarter saw average limits drop 7.79% year over year, to $4,946. In Billings, mobile-home residents say rising lot rents are threatening their ability to stay. Housing: A planned 24-unit affordable complex in Billings, with preference for veterans, won state tax credits. Business Climate: Montana businesses reported a flat summer tourism season amid inflation, smoke and an airport runway closure, even as Bozeman airport passenger numbers topped 3 million.

Data Center Rules: Missoula County’s draft study warns that data centers could pose health, safety and environmental risks. It recommends extending the permit moratorium for a year while the county develops tailored zoning rules. Travel Growth: Bozeman Yellowstone International Airport surpassed 3 million passengers over 12 months, ahead of forecast, as its expansion continues; higher fuel costs are clouding growth projections. Jobs & Investment: Montana’s September unemployment rate was 2.5%, and the state’s labor department received $4.8 million to expand employer-led workforce training. Commerce is also accepting applications for rural economic development grants. Agriculture: A Montana Angus bull sold for $900,000 at auction, while ranchers report cattle remain in high demand and short supply. Separately, President Trump approved $8 billion in harvest relief for Montana farmers.

School Revenue: Montana’s Land Board approved about $927,000 in new trust-land revenue for schools, including proceeds from timber sales and easements. Small-Business Support: Montana businesses and nonprofits affected by last June’s hail, wind and heavy rain have until Nov. 23 to apply for SBA disaster loans. Tourism and Air Travel: Bozeman Yellowstone International Airport has topped 3 million passengers, while businesses report a flat summer tourism season amid inflation, smoke and a runway closure. Tech and Workforce: Montana’s high-tech industry contributes $4.4 billion to the state economy; separately, the state Labor Department received $4.8 million to expand employer-led job training as businesses seek skilled workers. Energy Investment: Puget Sound Energy has begun building a 130-megawatt solar farm in Stillwater County, a project expected to employ about 250 workers during construction and generate roughly $4.8 million in county impact fees over three years.

Farm Relief: The Trump administration announced an $8 billion Harvest Fuel program for farmers facing higher costs and market disruptions; payment rates are due in November. Air Travel: Bozeman Yellowstone International Airport topped 3 million passengers over 12 months for the first time, but high fuel prices could slow growth. Tourism: Montana operators reported flat summer revenue as inflation, wildfire smoke and an airport runway closure curbed spending and bookings. Workforce: Montana’s labor department received $4.8 million to expand employer-led training, while the state’s high-tech industry contributes $4.4 billion to the economy. Investor Refunds: Montana’s auditor joined a multistate agreement requiring Wells Fargo and Merrill Lynch to refund customers overcharged on stock trades. Construction: Billings construction starts are forecast to rise 24% this year, after jumping 49% last year.

Mining and Permitting: Montana DEQ has opened public scoping for US Critical Materials’ proposed Sheep Creek exploration near the Bitterroot River. The yearlong plan includes drilling and underground sampling; it is not a mine approval. Yellowstone Investment: Energy infrastructure firm Tallgrass is giving the park a record $105 million for conservation, visitor facilities and expanded public access, including a new Norris Geyser Basin visitor center. Tech Economy: Montana’s high-tech industry generated $7.9 billion in revenue in 2024 and contributed $4.4 billion to the state economy, according to a new report; average sector wages reached $146,000 in 2025. Manufacturing: ADF Group’s C$82 million contract package includes hydropower work for its Great Falls fabrication plant, with the largest project set to begin in 2027. Workforce: Montana DLI received $4.8 million to expand employer-led training programs, while Bozeman Yellowstone International Airport topped 3 million passengers.

Workforce Investment: Montana received $4.8 million in federal funding to launch the Montana Skills Fund, which will reimburse employers for training new hires in high-demand fields such as manufacturing, computing and construction. Business Travel: Bozeman Yellowstone International Airport handled more than 3 million passengers in the year through September, topping projections as residents, tourists and business travelers sustained demand. Campaign Finance: New filings show Sam Forstag raised $2.3 million for Montana’s Western House race, ahead of Republican Aaron Flint’s $1.3 million; the Senate race’s leading fundraisers were Republican Kurt Alme and independent Seth Bodnar. Utilities and Energy: Montana’s Public Service Commission races put utility costs, data centers and regulatory oversight in focus, with the commission responsible for regulating monopoly providers such as NorthWestern Energy. Yellowstone Investment: A new $105 million fund will support conservation research, park infrastructure and education, backed by Yellowstone Forever and energy company Tallgrass.

Fuel Costs: Montana gas prices fell for a fourth straight week, averaging $4.40 a gallon, down 8.8 cents from last week but still $1.34 above a year ago. Economic Development: Yellowstone County is advancing a road-use agreement for a data center developer, a step toward a project that could bring investment while raising infrastructure demands. Workforce: Montana established a Skills Fund for job training, while MSU-Northern received a $2.5 million federal grant to expand student support. Banking: Stockman Bank opened a Columbia Falls branch, adding a local financial services location. Higher Education: The University of Montana’s College of Business ranked among the top 15% of public undergraduate programs nationally.

Banking: Stockman Bank has opened a Columbia Falls branch, adding a local banking option in a growing Flathead community. Workforce: Montana received $4.8 million to expand employer-led training, while a new Montana Skills Fund aims to help workers build job-ready skills. Business Education: The University of Montana’s College of Business ranks among the top 15% of public undergraduate programs nationally. Development: Kalispell’s Urban Renewal Agency advanced a tax-increment financing request for the Kalispell Center Mall to City Council. Industry: Butte’s highway and rail links are helping make it a key hub for Empire Building Materials. Mining: Blue Copper plans to increase its exploration activity by one-third. Technology: Montana industry leaders discussed how automation, including AI and robotics, could reshape local businesses.

Banking: Stockman Bank has opened a full-service Columbia Falls branch, a major local investment by the Montana-based bank. Business Education: The University of Montana’s business college ranked among the nation’s top 15% of public undergraduate programs, with 94% of graduates employed or in graduate school within six months. Taxes: Three Montana lawmakers filed a second lawsuit challenging the state’s 2025 property-tax law, which set tiered rates for homes, small businesses, farms and ranches. Workforce: Montana received $4.8 million to expand employer-led training programs, while a new Montana Skills Fund aims to support workforce development. Technology: Montana’s tech sector took center stage at a Bozeman economic summit, as local industry leaders discussed automation and AI. Trade: Gov. Greg Gianforte promoted agricultural partnerships and Montana goods during a trip to India.

Small Business: Billings’ 13th annual Holiday Kickoff Market drew shoppers to 108 vendor booths, giving Montana artists and small businesses a busy weekend sales opportunity. Redevelopment: Kalispell’s Urban Renewal Agency recommended a $13.9 million tax-increment financing request for Kalispell Center Mall improvements, including a new street connection and utility work; the proposal now goes to City Council. Logistics: Butte-based Empire Building Materials is using its 100,000-square-foot warehouse near I-90, I-15 and rail service to ship materials to six states. The facility has 22 employees. Workforce: Montana’s new $4.8 million Skills Fund will reimburse employers for approved training in advanced manufacturing, computing and construction trades, with part of the payment tied to workers staying on the job for six months.

Workforce Training: Montana will use $4.8 million in federal funding to launch the Montana Skills Fund, reimbursing employers for training workers in advanced manufacturing, computing and construction. The state expects to announce rules and application dates in early 2027. Housing Investment: A plan to renovate Billings’ long-vacant Broadway Apartments could add 18 homes. The project’s architect is seeking $104,000 in tax-increment financing to help close the funding gap before construction begins in 2027. School Bond: Lewistown trustees certified the high school bond vote, with 1,748 votes in favor and 1,288 opposed. The district will next select an owner’s representative to oversee the work. Rural Economy: Montana’s $8 million emergency investment to address rural health gaps and a new state effort to support employer-led training signal continued focus on staffing and services outside major cities.

Workforce: Montana received $4.8 million to expand employer-led training programs, aiming to help businesses build a stronger local talent pipeline. Data Centers: Yellowstone County advanced a road-use agreement for a data center developer, a step toward a project with potential local economic impact. Mining: Blue Copper plans to increase exploration by a third, signaling more activity in Montana’s mining sector. Main Street: Job postings point to a new coffee-and-retail concept in the Bozeman space vacated by Wild Joe’s, marking a shift for a longtime downtown business. Regulation: Seventeen groups sued Montana’s Public Service Commission, arguing it must consider climate risks when regulating utilities—an outcome that could affect energy decisions and costs. College Finances: FVCC trustees approved a $250,000 salary for incoming president Deborah Kish Stephan amid employee complaints about compensation and transparency.

Data Center Infrastructure: Yellowstone County commissioners advanced a road-use agreement for Quantica Infrastructure’s planned project near Billings. It would require maintenance and improvements on five miles of county roads, but does not approve the project’s land use, water or power plans. Trade & Agriculture: Gov. Greg Gianforte says his India trade mission aimed to build markets for Montana pulse crops, which India imports in large volumes. Manufacturing Jobs: Janicki Industries named a new operations director for its planned $800 million Great Falls campus. The company projects more than 1,000 jobs within five years and 2,000 at full build-out. Local Finance: Sky Federal and On Tap credit unions plan to merge, creating an institution with about $671 million in assets and more than 32,000 members; no branch closures are planned. Energy & Mining: Helix Exploration has begun selling helium from its Montana field, as supply disruptions and rising demand draw investor interest. Downtown Development: Dillon approved an urban renewal district to fund infrastructure improvements with future property-value growth; school officials raised concerns about the effect on local funding.

Property Taxes: Three current and former Republican lawmakers filed a new suit challenging SB 542’s tiered residential tax rates, arguing they violate equal protection; an earlier challenge is also pending. AI Regulation: Montana joined seven states suing OpenAI, alleging ChatGPT misled consumers about safety and exposed children to harm. Defense Investment: Trump says Montana will host a Pentagon “super range” for advanced-weapons testing, but gave no location, budget or timeline. Aviation Contracts: Bridger Aerospace won a 220-day Interior Department task order for 2027, using a King Air 350. Agriculture: About $400,000 is available for livestock-loss prevention, offering support to Montana producers. Business Education: UM’s College of Business ranked in the top 15% of public undergraduate programs nationally, leading the Big Sky Conference.

Workforce Pipeline: The University of Montana and Fort Peck Community College have launched a 2+2 business degree pathway, letting students complete a bachelor’s degree online or in person without leaving the area. Aerospace Contract: Bridger Aerospace won a federal task order worth at least $5.3 million to provide wildfire air-attack services for 220 days in 2027. AI Regulation: Montana joined seven other states suing OpenAI, alleging ChatGPT misled families and put children at risk; the states seek court-ordered safeguards and penalties. Energy and Data Centers: A race for a seat on the Public Service Commission is drawing attention to a proposed Broadview data center that would need 1,100 megawatts—more than NorthWestern Energy’s average daily peak load of about 760 megawatts. Fuel Costs: Montana has temporarily expanded dyed-diesel use for commercial agriculture and logging vehicles, which may use fuel that typically costs about $1 less per gallon than taxed diesel.