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The hugely successful and popular dramatic television show Yellowstone, which portrays the fictional Dutton family ranch in Montana, has sparked the interest of a worldwide audience in our state. In addition to its critical and commercial success, the show has emerged as a significant factor in the marketing of Montana, with its more than 10 million viewers treated to storylines, characters and scenery of the mountain west.

This report takes a journey through all aspects of housing markets ? dealing with demand, supply, and market outcomes. We have also included a section on needs for affordable housing and how those needs are being addressed.

Farming and Ranching: Navigating Another Drought By George Haynes and Kate Fuller
Forest Products: COVID-19 Hangover Impacts Wood Products By Steven Hayes and Todd A. Morgan
Energy Montana's Energy and Minerals Future By Bill Whitsitt
Manufacturing: Shipping and Supply Chain Are Big Concerns By Robert Sonora
Travel, Tourism and Recreation: Staffing Shortages Cause Concern By Jeremy Sage
Health Care: COVID-19 Drives Exodus of Health Care Workers By Robert Sonora
Real Estate and Construction: Boom or Bubble? By Derek Sheehan
Transportation and Logistics: The Roller Coaster Ride Continues By Simona Stan
Technology and Innovation: Pandemic Has Not Slowed Montana's Growing Tech Sector By Christina Quick Henderson

Outdoor recreation in Beaverhead County spans a wide variety of activities, including big game hunting, upland game bird hunting, hiking, camping, rafting, mountain biking, and angling. This study represents a comprehensive effort to assess the size of that total economic contribution. We have gathered and assembled data on the size and scope of measurable outdoor recreation in Beaverhead County. The activities of hunting and angling in Beaverhead County ultimately produce an economy with: -451 more jobs, spread across the state in a wide-ranging spectrum of industries. -$74 million more each year in income received by Montana households. -$167 million each year in additional output. -More than 2,000 more people attracted and retained to live in our state.

Do counties with access to ski resorts, open space or national parks have greater economic growth and prosperity in the long run?

Despite the challenges of closed borders, schools and businesses, travelers set records in Montana''s state and national parks.

How COVID-19 Has Reshaped the Economy - What Changes Are Here to Stay? A Life-Or-Death Moment for Cities - New York and Other Metropolises Must Protect Themselves From pandemics or Our Future Will Be Far Less Urban The State of Manufacturing in Montana - Manufacturing Growth Stalls Due to COVID-19

Farming and Ranching - A Year of Volatile Commodity Prices and Near-Record Stimulus Payments Forest Products - Montana Wood Products in the Time of COVID-19 Energy - The COVID-19 Recession Impacts Prices Manufacturing - Continued Growth Is Interrupted by the Pandemic Travel, Tourism and Recreation - Crowds Flock To Montana During COVID Summer Transportation and Logistics - 2020 Was a Year of Disruption Health Care - COVID-19 Alters Health Care Landscape Technology and Innovation - Remote Work, Zoom Towns and a Spotlight on Biotech Real Estate and Construction - The Seller''s Market Continues

This report presents the findings of research intended to quantify the potential size of the recreational cannabis marketplace in Montana, and the potential tax revenue that could be collected in the event that recreational cannabis achieves legal status as envisioned in initiatives CI-118 and I-190 on the November ballot. This independent effort conducted by the Bureau of Business and Economic Research at the University of Montana was commissioned by New Approach Montana, a political campaign aimed at passing the initiatives. The research uses publicly available data and draws on similar research conducted in other states.

The University of Montana?s Institute for Tourism and Recreation Research (ITRR) routinely monitors the tourism and recreation industries of Montana. They largely do this via on the ground surveyors stationed throughout the state. These efforts result in the ability to provide estimates of the number of visitors to the state, how much they spend, and how that spending impacts the state?s economy. Recognizing a massive upheaval was on the horizon for tourism in Montana, and the impending inability to interact with visitors face-to-face, ITRR began a series of secondary information surveys. Its purpose was to gauge the potential impacts of the pandemic to Montana?s tourism industry, as felt by travelers and businesses. The series showed how concerns over health and the economy impacted the tourism industry, as the virus spread and governmental actions took hold.

How we work is rapidly changing as we approach the fourth industrial revolution. What can Montanans expect in this new world of work?

This article looks at nine of Montana''s key industries; Farming and Ranching: Price Declines and Exports Make for a Challenging Year, Forest Products: Positive Signs for Montana, Energy: What to Watch for in 2020, Manufacturing: Montana Outpaces Nation as a Whole, Travel, Tourism and Recreation: Nonresident Visitation Stable, Health Care: The Impact of Medicaid Expansion, Transportation and Logistics: A Shortage of Drivers Continues to Cause Concern, Technology and Innovation: Record Revenue, Jobs and Venture Capital Investment, Real Estate and Construction: Housing Markets Lack Inventory.

The purpose of the 2018-2019 U.S.D.A. Forest Service Region 1 Social Surveys was to examine: 1) perceptions of the purpose for federal public lands; 2) views about possible management actions on those lands; 3) opinions about possible concerns regarding federal public lands; 4) frequency of self-reported activities on federal public lands; and 5) opinions about the quantity of services provided on federal public lands. The 2019 survey is an extension of the 2018 survey which was designed to help policy-makers and planners quantify public opinions about federal public lands that are close to the home of Region 1 residents.

While Montana is facing an affordable housing crisis, it''s also seen a surge in short-term rentals, limiting options for year-round residents.

We asked speakers from the 2018 Economic Outlook Seminar to share their insights on the prospects for some key sectors of the state economy.

The arts are a big business in Missoula, providing tangible benefits beyond their entertainment value. Missoula's nonprofit arts sector is a $54 million industry - nearly three times that of other communities the same size.

Visitors flock to Montana for a multitude of reasons ? high among them is outdoor recreation. One group is creating a grassland reserve in northeast Montana to bring tourism and economic opportunities to the region.

In 1972, the state of Montana legalized a variety of gambling games, including bingo, raffles, poker and other card games. In 1997, the Montana Legislature appointed the Montana Gambling Study Commission to conduct research and make public policy recommendations. The following article is an excerpt from an extensive survey conducted by the Bureau of Business and Economic Research in 1998.

Montana had a record year in 2016 with the largest jump in year-to-year visitation at Glacier and Yellowstone national parks. Millions of people travel to Montana every year to visit these natural attractions. This excerpt from an article from 1998 examines how small towns began capitalizing on a new trend to draw these visitors to their communities.

Record visitation is taking its toll on Yellowstone and Glacier national parks. While national park managers were prepared for a good year, many were trying to respond to an unprecedented increase in visitation that simply did not stop.

This study examines the size and scope of those economic contributions. Specifically, this study poses the question, "What would the economy of Missoula look like if Grizzly Athletics did not exist?" Using information from financial records, ticket sales, attendance, and a survey of Grizzly football season ticket holders, we have estimated how much larger the economy of today is - in terms of jobs, income, spending and population - than would be case if the Grizzly Athletics were not a part of it.

Visitors with strong geotraveler tendencies tend to spend more nights and more money in Montana than those who did not. Purchasing local products and services is one way this geotraveler attempts to experience our state.

Intercollegiate athletics play a major role in colleges and universities, individual communities and American culture. Lean how University of Montana athletics impact the Missoula economy in visitor spending, jobs and personal income.

The big story is Montana''s economy coming into balance; both geographically and across industries. Three or four years ago, commodity prices were high and oil was booming. That, along with high agriculture prices, made for faster growth in rural counties, primarily eastern counties, rather than in bigger cities.

A wide-ranging discussion covering economic topics of interest. The discussions include: the Economy, Healthcare, Tourism and Recreation, Agriculture, Manufacturing, Forest Products, Housing, and Energy. A panel of industry experts and economists provide their responses to important questions regarding Montana?s economy.

About 77,200 off-highway vehicles (OHVs) were registered for off-highway use in Montana during 2013. These vehicles are used both for pleasure and work. OHV-owning households own an average of two machines, and two family members usually participate in outings. Montana OHV users spend between 4.2 million and 5.9 million days recreating. This project was sponsored by Montana State Parks. Montana State Parks administers the OHV Program.

The Bureau of Business and Economic Research''s most recent surveys suggest that about 8 percent of the state''s households include snowmobile recreationists. Nearly always, the whole family participates. With an average household size of about 2.5, perhaps as many as 100,000 Montanans participate in the sport each winter. Nonresident snowmobilers are important contributors to the Montana economy. Our estimates suggest that nonresident snowmobilers spend about $147 per activity day, including food, lodging, and often, snowmobile rental costs. Nonresidents accounted for about 97,000 activity days during the 2013-2014 snowmobile season, spending an aggregate of nearly $14.3 million in Montana. That spending supports about 200 winter jobs. This project was sponsored by Montana State Parks, which administers the Snowmobile Trails Program.

Bicycle tourism is gaining momentum in Montana. In fact, it could be the new phenomenon in the travel industry. And it''s definitely an economic boon. Multiday bicyclists take longer to get anywhere, thereby showering the communities they stop in with outside dollars.

Q&A with Montana''s leading economists and industry experts on economic issues facing Montana.

Using the REMI economic model the economic impact of the Archie Bray Foundation for the Ceramic Arts was analyzed for Montana. The operations of the Foundation, which produces and sells ceramics, its educational workshops, and the summer festival it hosts were all considered in the analyses. It ultimately supports 26 year-round jobs and about $1.4 million of income to Montana households (37 year-round equivalent jobs and $2.1 million in festival years).

Q & A with Bureau economists and industry experts throughout the state about the latest economic trends and forecasts, as well as the outlook for Montana's important sectors.

One marketing and promotion strategy that is growing popular throughout the tourism industry is geotourism, which incorporates the concept of sustainable tourism ? that destinations should remain unspoiled for future generations ? while protecting a place's character.Montanans have the power to direct the type of tourism development in line with the values of people in the state which, in turn, draws people to visit who hold the same values.

This report documents the research findings of how the operations and the output of The University of Montana-Missoula contributes to Montana's economy.

Travel and recreation around Montana and the nation took a few hits in 2009 due to the economic situation around the world. This year will end as a year in which some areas did well while others struggled. This somewhat mixed assessment of the travel and recreation iindustry's performance in 2009 seems to be the result of changes in the way consumers are traveling and spending.

Four-wheeling through mud, snow, and woodsy trails continues to grow in popularity in Montana, with the state''s off-highway vehicle (OHV) owners spending nearly $123 million during 2008 and paying more than $1.4 million in to the highway trust fund via gasoline taxes. But a recent survey of OHV recreationists found that the sport is thriving amidst worry from enthusiasts that growth will hamper access because of poor behavior from a few riders.

About 54,000 off-highway vehicles (OHVs) were registered in Montana during 2007. OHV owning households own an average of two machines and two family members usually participate in outings. Residents spend nearly all of their out-of-pocket trip costs for gasoline. We estimate that OHVers buy about 5.3 million gallons of gasoline per year. With a base tax of $0.27 per gallon, we estimate that OHVers in Montana generate over $1.4 million in revenue for the state highway trust fund.

In 2008, nonresident visitor numbers were down in Montana, though some areas saw an influx of Canadian and international visitors. Airline deboardings increased 2.9 percent and skier visits in the state were up 14.5 percent. In 2009, With unemployment on the rise, an uncertain economic recovery, and virtually a global recession, travel to Montana and elsewhere will not grow in and instead will likely decline.

Based on Montana's current snow conditions, the strength of the Canadian dollar, and the likelihood for Americans to travel in the United States where their dollar is not deflated, Montana will likely experience a 2 to 3 percent increase in nonresident travel in 2008.

Nationwide, roughly 6 percent of homes are in developments behind walls and fences. Predominantly out-of-state investment has brought this trend to Montana. In 1990 only 276 houses in Montana were worth $300,000 or more according to the U.S. Census Bureau. By 2000, the Bureau had to add a whole new category: homes costing $1 million or more. Author Amy Joyner gives readers a glimpse of life in some of Montana''s most luxurious and exclusive communities. From the Yellowstone Club to the Ridge Above Rock Creek, Joyner describes life behind the gates.

Quit griping about gas prices. The current price of gasoline is actually less now than in 1980, when adjusted for inflation. Gas prices have not had a substantial effect on travel because Americans have not hit their threshold on the price they are willing to pay for gasoline. Montana's travel industry has been on a growth projection for years, and growth occurred in virtually all travel indicators within the state from 2005 to 2006.

The Bureau of Business and Economic Research?s most recent surveys suggest that about 8 percent of Montana households include snowmobile recreationists. With an average household size of 2.5, perhaps as many as 85,000 Montanans participate in the sport each winter. Nonresident snowmobilers are also important contributors to the Montana economy. Snowmobiling is a popular, revenue-generating winter activity in Montana.