In 2014, Butte-Silver Bow hired AngelouEconomics to develop a Target Industry Report and Reverse Site Selection Analysis to help guide the County’s economic development efforts.
Butte-Silver Bow is historically a mining town. In the early 1900s, Butte-Silver Bow boasted a population of more than 100,000. However, as mining industries in the U.S. consolidated, Butte-Silver Bow lost 70% of its population. The loss of population led to the decline of retail and entertainment sectors.
Over a four-month period, AngelouEconomics partnered with the County to develop a strategic plan to target specific industries and diversify the local economy based on Butte-Silver Bow’s unique challenges and opportunities. Target industries include Tourism & Destination Retail, Manufacturing, Logistics, Mining & Environmental Engineering, and Innovation & Specialized Services. Specific recommendations were given for each target industry on how to best utilize existing assets to grow those industries organically.
The theme of the report was diversification. The study gave Butte-Silver Bow the tools necessary to expand their economy to better insulate itself from the decline of any one industry. The recommendations addressed each specific industry and how best to market and promote those industries. Overall product improvement strategies were provided to enhance economic development efforts in the region. Finally, recommendations were given to increase the effectiveness of the Montana Connections Park, which is an industrial park at the junction of a two major interstates and multiple rail lines.
§ Resident and Business Survey Results
§ SWOT Analysis
§ Target Industry Analysis
§ Reverse Site Selection
§ Site Selector Perception Survey
§ Action Strategy and Final Recommendations