Bozeman has earned recognition as one of the country’s leading entrepreneurship hubs, with Gallatin County landing in the 98th percentile on a national index measuring entrepreneurial activity in rural communities, Gov. Greg Gianforte announced at an event in the city this week.
The ranking comes from the Center on Rural Innovation’s Rural Entrepreneurship Index, developed in partnership with the Capital One Insights Center. The index examined eleven measures of entrepreneurial activity across rural counties nationwide, including business creation, self-employment rates, private investment, patent activity, and job growth. Gallatin County scored at or above the national average on every measure, with a job creation rate of 18 percent and a self-employment share of 17 percent.
Capital One used the occasion to announce a $3 million investment aimed at expanding access to capital and technical assistance for small businesses and entrepreneurs across rural Montana.
“The nation has recognized what we already know to be true — under our big skies, the opportunities to innovate are endless,” Gianforte said at the event, held at EngineWorks in Bozeman. “Since I’ve taken office, we’ve made it a priority to keep government out of the way to unleash the full potential of our innovators and job creators.”
The governor, who co-founded a software company that grew into Bozeman’s largest employer before he entered politics, said access to capital was critical to his own experience building a business and welcomed the outside investment.
Todd O’Hair, president and chief executive of the Montana Chamber of Commerce, joined the governor for a conversation with local business leaders on the state’s economic trajectory. O’Hair pointed to workforce quality and entrepreneurial culture as key drivers of growth across sectors including technology, outdoor recreation, construction, and hospitality.
“Montana’s economy continues to exceed expectations and attract new investment,” O’Hair said. “The support and interest of Capital One and the Center for Rural Innovation helps ensure businesses across our state can continue to grow and compete.”
Gianforte used the event to highlight his administration’s economic agenda, including what he described as the largest tax cuts in state history, income tax reductions across all income levels, and property tax relief measures. He outlined remaining priorities including moving Montana toward a flat income tax, reducing occupational licensing requirements, cutting regulatory red tape, and raising the exemption threshold for small business equipment taxes.
By: DNU staff