Diversification key to success

By The Standard Staff - 01/13/2008

Local economist John Kasperick gives this take on diversification in Butte’s economy: The county is seeing growth and diversification in several sectors that can offset a potential downturn at the Montana Resources mine, but the economy is still “very dependent on this sector, and it helps to sustain jobs in these other areas.” Since 2000, Silver Bow County saw fast growth in goods producing industries and strong gains in the professional and business service sectors through adding engineering, environment and business services jobs. The county also saw strong growth in construction, although at a slower pace than the rest of the state.

The health and education services industries are fastest growing in the county, with an additional 600 jobs. That’s far more than the statewide average.

The county also has stability in the transportation and utilities sector with NorthWestern Energy. The government sector is also strong, with Montana Tech and state and local government jobs.

Mining is still an integral part of the overall county economy. Kasperick estimates Montana Resources supports nearly 7 percent of private employment in the county and almost 10 percent of the overall county income level.

The impact of mining in Butte was higher during the Anaconda Copper Co.’s reign.