Montana earned recognition as one of the nation’s premier destinations for entrepreneurs, landing in the top 15 states in a WalletHub study ranking all 50 states on their business startup environments.
The report evaluated states across 25 measures grouped into three dimensions: business environment, access to resources and business costs. Metrics included number of startups per capita, access to capital and cost of living, among others. Montana ranked just outside the top 10, which included Florida, Utah, Texas, Oklahoma, Idaho, Mississippi, Georgia, Indiana, Nevada and California.
Gov. Greg Gianforte touted the ranking as validation of his administration’s pro-business agenda. “Montana is open for business,” Gianforte said. “Since taking office, we’ve removed burdensome regulations, cut taxes, strengthened our workforce, and increased the supply of affordable housing to support the businesses choosing to invest in Montana and create more good-paying jobs.”
Since taking office, Gianforte simplified the state income tax structure from seven brackets to two, delivered tax cuts across every income level, secured property tax relief and worked to increase the supply of affordable workforce housing.
The Montana Chamber of Commerce welcomed the recognition. “Businesses are choosing to invest in Montana and create jobs that strengthen local economies and expand opportunities for communities across our state,” said Chamber President and CEO Todd O’Hair.
The WalletHub ranking added to a growing list of accolades for Montana’s business climate. Last year, Entrepreneur Media named Montana the best state in the nation for business startups, and a separate WalletHub study ranked Bozeman fourth among small cities in America to start a business.