2009 Montana Mining - Montana Mining Association

MINING IN MONTANA
Helping sustain our economic
strength during the global
economic downturn
By Governor Brian Schweitzer
Following years of record-breaking economic growth, Montana is
now feeling the pinch of the economic downturn that
is impacting the entire nation and beyond. That being said, it is important
to note that Montana is better off than most other states, both
economically (our economy is still among the leading states) and
financially (Montana is one of only four states that are maintaining a
projected budget surplus).
It is equally important to note that mining continues to contribute
to the economic strength of the state, as it has over its history. At a
time when so much of the economic strength of America seems to
have been built on a “puffed-up” financial sector model, the people of
Montana can take comfort in the fact that the strength of our economy
is rooted in traditional basic sector activity, including mining.
When Montana had one of the fastest growing economies in the
nation during the past three years and when our unemployment rate
Serving the
Mining Industry for
over 50 Years in the
USA & Canada.
Graymont Western US, Inc.
4 1/2 Miles West of Townsend
P.O. Box 550
Townsend, MT 59644
Phone: (406) 266-5221
Fax: (406) 266-3079
www.graymont.com
40 Montana Mining 2009
set new record lows from 2005-2007 (3.6 percent in 2005; 3.2 percent
in 2006; and 3.1 percent in 2007), that economic strength was partially
rooted in the mining industry.
As we developed a record number of jobs (over 460,000 total jobs,
including 59,000 new jobs from January 2005 to October 2008) and the
quality of our jobs was on the rise, mining contributed to that growth.
The fact is, mining provides high paying jobs for Montanan families
and communities, and those mining jobs continue to be among the
best in the state.
Montana’s growth was a result of strength in the resource, commodity
and energy sectors. In addition, we were aided by strength in
the technology and knowledge sectors – even tourism has shown
strength. Add to that the “secret weapon” of Montana’s economy: our
state is the best place to live, raise a family and run a business.
Part of what Montana has done right is to develop quality jobs at