Tech industry expands in Montana
As the population grows here in Missoula and the amount of infrastructure, so are the industries. One on the rise in our county and statewide is technology. Photo: NBC Montana
MISSOULA, Mont. — According to the Montana Economic Outlook for 2020, Montana's high-tech industry is growing at nine times the rate of the Montana economy.
As the population and the amount of infrastructure grow in Missoula, so do the industries.
Technology is on the rise statewide..
“Companies right now are generating tens of millions of dollars annually for their companies,” CEO of Missoula Economic Partnership Grant Kier said.
The Montana Economic Outlook for 2020 states that:
- Tech companies in Montana have more than $2 billion in annual revenue
- Pay double the median wage $65,000+
- There are over 600 firms
Although Bozeman is a flourishing tech hub for the state, Missoula is not far behind.
“Really proving themselves to be successful centers for economic development and tech communities. I think we are even seeing a lot of our businesses in Missoula and Bozeman start to see the benefit of having offices in both communities,” said Kier. “I think we are really seeing a lot of synthesis and support in those communities to see what we can do to really set Montana apart from the rest of the states in our country,” Kier added.
In the past two years, Missoula’s grown significantly as tech-related jobs and companies converge in Montana.
LumenAd is a homegrown tech company.
“The Silicon Valley, Seattle and Portland -- all wonderful places, but if you can also have access to everything Missoula and western Montana provides, why not,” LumenAd brand director Anthony Krolczyk said.
In 2019, LumenAd was recognized as one of the top 50 fastest growing private companies in the United States.
They've grown from a team of 10 in 2014 to a team of 90 now.
“We also have to look at those who paved the road for us to be here -- everyone from the Montana High-Tech Business Alliance, Montana Code School to the University of Montana, about a third of our staff are all UM graduates,” said Krolczyk.
As for the future of technology companies in the state, LumenAd says this is just the start for the industry in Montana.
“They are going to take slightly different variations on the type of company and services they provide, but it’s absolutely going to provide long time economic growth for western Montana,” said Krolczyk.
Montana is away from the noise and chaos of big markets.
LumenAd says that’s one reason this industry will continue to grow.
