NewsMontana and Regional News

Actions

High tech business continues to boom in Montana

Posted: 2:18 PM, Mar 25, 2019
Updated: 2019-03-25 16:18:25-04

BOZEMAN – The Montana High Tech Business Alliance reported the state’s high-tech companies generated more than $2 billion in revenue in 2018.

Many of those businesses are found in Bozeman and have cropped up as the area’s rapid growth continues.

“Most of my clients when I started were out of state and that’s just where all of my clientele was. As years progressed, I started getting more clients here in Bozeman,” Advanced Electronic Designs President Bryan Robertus said. “But as of recently, I would say probably in the last five years, we have seen significant growth in the number of our local clients.”

When Advanced Electronic Designs came to Bozeman 25 years ago, Robertus didn’t picture the industry would be where it is today.

These high tech businesses are growing nine times faster than any other business sector and they are paying 60 percent higher than the average earnings per Montana worker.

Prospera, a nonprofit in Bozeman, is able to support the growth these businesses are experiencing.

“We help people start and grow their businesses here in Montana. We support some of the high tech companies that are here and growing in Gallatin County, and Park County too, with professional business training, no-cost business counseling and business development grants,” Prospera Executive Director Paul Reichert said.

With support and growth, the companies continue to be an important component of Montana’s economy.

“It’s an amazing economy, it’s amazing growth. Someone described it to me the other day as it’s a once in a lifetime opportunity that Bozeman is the fastest growing small city in the country and I don’t see it slowing down,” Reichert said.

The Montana High Tech Business Alliance study said high tech companies plan to increase wages by five percent in 2019, which is about three percent faster than all Montana employers in the most recent data.

-Reported by Emma Hamilton/MTN News