Key Facts
- Per Capita Real GDP
- $28,201 Rank: 48/50 (2007)
- Population
- 967,440 Rank: 44/50 (2008)
- Per Capita Personal Income
- $30,688 Rank: 42/50 (2006)
- Unemployment Rate
- 3.20% Rank: 8/50 (2008)
- Business Tax Climate Index
- Rank: 6/50 (2008)
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Montana: Introduction
The Northwestern state of Montana is often characterized by its natural beauty and vast expanses of land. The open terrain has given rise to the nickname “Big Sky Country”. Montana is the third largest continental US state, though its population of less than one million give it a density of only 6.1 people per square mile. This low population has allowed the state to maintain the natural attractions it has become famous for. Today, three national parks are located at least partially within Montana, including the famed Yellowstone National Park.
Montana’s early economy centered on mining the State’s rich deposits of minerals and metal; at one point satisfying over 40% of world demand for copper. The constant expansion of the railroad network in the late 19th and early 20th centuries brought an influx of agricultural workers who helped diversify Montana’s economy and increased the state population.
Today, Montana is still largely dependant on its natural resources with agriculture, tourism, timber, and mineral production all playing integral roles in the state economy. These industries take advantage of Montana’s natural mineral deposits, scenic beauty, forestlands, and open ranges. The state is also shifting towards the service sector, which now accounts for three-fourths of the gross state product. Apart from tourism, major service industries include real estate, construction, and health care.
