BOZEMAN — Workers in Montana’s manufacturing sector saw their wages increase by nearly $8,000 on average over the past year, according to a new report released by the Montana Manufacturing Extension Center at Montana State University.
The 2024 Montana Manufacturing Report provides a wide variety of data about manufacturing in the state. It includes the results of surveys given to manufacturers and highlights of how MMEC’s services helped the industry. The 2024 report marks the 28th year of collaboration between MSU’s MMEC and the Bureau of Business and Economic Research at the University of Montana, which conducts the annual economic analysis and develops the comprehensive report.
The report covers the 2023 calendar year. According to the report:
- More than 5,099 manufacturing firms are in operation in Montana, including sole proprietors.
- Manufacturing accounts for 17% of Montana’s base industry earnings totaling about $12.3 billion.
- Manufacturing jobs paid about $65,000 in wages, compared to the state average of just under $57,000 – an increase of nearly $8,000 for manufacturing workers since last year’s report.
- The industry accounts for 5.5% of total private state labor earnings, equaling $1.95 billion.
- Manufacturing employs 4.4% of Montana’s nonfarm workforce, with about 22,700 employees.
- Manufacturers produced 6.4% of Montana’s inflation-adjusted gross domestic product, with a value of $2.9 billion.
- Montana manufacturing employment and output growth was almost double the national average in 2023.
“Montana’s manufacturers are raising their wages to remain competitive in the workforce marketplace,” said MMEC Director Paddy Fleming. “This is great news for all those hardworking Montanans that make all the products we use, eat and drink daily.”
The MMEC is part of MSU’s Norm Asbjornson College of Engineering and provides services to manufacturing companies across the state to help improve business operations through in-person assistance by industry specialists.