Author: Press Room

Montana Highlights February 15, 2023

21 February 2023
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The Whitefish City Council is considering whether to enact greater restrictions on where marijuana businesses can operate in the downtown core. The discussions are about the possibility of amending the current buffering after several councilors raised concerns that too many marijuana dispensaries have been approved in downtown.

The Bitterroot National Forest has released the Final Supplemental Environmental Impact Statement for the Gold Butterfly Project. The project is a proposed vegetation management and fuels reduction project in the Sapphire Mountains east of Corvallis. A large portion of the proposed treatment acres are within an area designated for insect and disease treatment, The area is impacted by mountain pine beetle, Douglas-fir bark beetle, dwarf mistletoe and western spruce budworm. The aproposed treatments include commercial timber harvest, non-commercial thinning, and prescribed burning to improve forest health.

The Calumet Montana oil refinery in Great Falls has completed the multi-million dollar expansion project begun one  year ago. The refinery is now capable of becoming the largest producer of sustainable aviation fuel in the United States. The $90 million project will allow Calumet to become a major player in the expanding markets for bio-based diesel and sustainable aviation fuel.

The Biden administration has taken the first step Friday toward ending federal protections for grizzly bears in the northern Rocky Mountains. The U.S. Fish and Wildlife Service said the governors of Montana, Idaho and Wyoming provided “substantial” information that grizzlies have recovered from the threat of extinction in the regions surrounding Yellowstone and Glacier national parks. There are now more than 2,000 bears in the Lower 48 states and much larger populations in Alaska, where hunting is allowed.

Brothers Gavin and Joey DeGraw have purchased the Open Range restaurant from Bozeman restaurateur Jay Bentley.The purchase of Open Range has resulted in expanded hours. Open Range is now open seven days a week. Plans are also being made to add lunch hours.

The owner of two downtown Bozeman bars has put the businesses up for sale. Casey Durham,  owner of the Okay Cool Group, said recently that they are listing El Camino and the Kitty Warren Social Club, for sale. The sale will include the option to concession, or rent, the businesses’ liquor license. Both bars are located at 211 E. Main St., Bozeman.

 Official statistics show that 2022  was a good year for the Dawson Community Airport. The numbers show dramatic increases over 2021. Those numbers are heavily inflated due to a temporary change in flight schedules that affected the airport over several months in 2022. According to the MDT’s information, the Dawson Community Airport saw a monthly average increase in ridership of about 99%. These increases in rider numbers are likely due to the change in flight schedules Cape Air enacted in response to a shortage of pilots.

 Taqueria Mi Lindo Michoacan, which loosely translates as “my pretty Michoacan taco shop,” opened during the summer of 2022 in Willston. Thanks to a $5,000 infusion from City of Williston’s Economic Development in the form of a STAR Fund Mini Match, she was able to restock. Navarro makes it clear Taqueria Mi Lindo Michoacan is a restaurant that sells ingredients for patrons to cook their favorite menu items at home.

Build Montana, the heavy equipment program and workforce initiative created through a partnership between the Montana Contractors Association and the Montana Equipment Dealers Association, has been honored nationally for the second time. Build Montana program partners were in Chicago recently to receive the Lester J. Heath Award from the Associated Equipment Distributors Foundation during their annual meeting. Build Montana currently has a program in its third year in Billings, and a program in its second year in Kalispell.

Nearly three months of abundant precipitation across much of Montana nurtured a healthy snowpack coming into the first month of 2023. However weather patterns changed in early January. They produced relatively dry conditions for the month. Southwest Montana received slightly less than normal January precipitation. The report stated that river basins west of the Continental Divide saw a 20% to 30% decrease in snowpack percentages. Rocky Mountain Front basins saw a 30% to 35% decrease since January.

A Dirty Dough Cookie shop will be opened by the Wilda family in Williston, Park Plaza in April. The latest craze in gourmet cookie shops hails from Lindon, Utah, corporate headquarters of Dirty Dough Cookie.

The Izaak Walton Inn in Essex will undergo major remodeling since 1995. The new owners, LOGE Camps, are planning the remodel of the over 84 year old Inn. The new owners are taking steps to keep the historic nature of Inn intact.

State officials emphasized to neighbors of Somers Beach State Park that the overnight accommodations proposed for the park will be unobtrusive. Somers Beach was acquired by the state in October 2021 from the Sliter family. The family previously allowed public access on its property and wanted that access enshrined as well as to see the land protected from future development,

Montana’s redistricting commission has voted 3-2 to finalize new House and Senate maps that will help guide the partisan balance of the state Legislature for the next decade. Chair Maylinn Smith cast the tie-breaking vote in favor of the map. The independent commission also includes two Democrats and two Republicans. The House map is largely derived from one offered by Democrats toward the end of a series of compromises last year, when Smith chose it over the GOP proposal.

The long-term outlook for jobs is positive throughout North Dakota and especially in Region 1, which includes Williams County. Job Service North Dakota’s Labor Market Information Center completed statewide and regional long-term employment projections through 2031. The 2023 results cover more than 700 occupations. Most of the job growth projected for ND over the next decade is in healthcare, construction and extraction, transportation and material moving. – Williston Herald

A Firehouse Subs has opened on the Montana State University campus in Bozeman.

Sidney Sugars Incorporated Inc. announced the closure of the 100-plus year-old sugar beet factory in Sidney. Factory owner, American Crystal Sugar Company claims that there is not enough interest among sugar beet growers to grow an adequate amount of beets to support the factory. Sugar beet growers have stated that the contracts they have been offered over the past few years have not offered prices enough to cover the cost of production, so many have switched to other crops.

Terracon announces the promotion of Marie Maher, P.G., to the position of Principal. With more than 16 years of geological and exploration experience, Marie currently serves as an Assistant National Manager for Terracon Exploration Services for the Western Operating Group in Great Falls. Her responsibilities include growth of the exploration services and development and implementation of initiatives regarding safety, efficiency, and professionalism.

In Great Falls, Alluvion Health’s three school-based health centers have received the Certified Autism Center designation.To receive the CAC designation, the chools met requirements by IBCCES, such as dedication to serving autistic individuals, having at least 80 percent of staff trained and certified, and a commitment to engage in specialized autism training on an ongoing basis.

The Montana Department of Transportation is proposing  to level and resurface about 3.5 miles of Interstate 90, west of Hardin in Bighorn County, beginning approximately 3 miles west of the Toluca Interchange, and extends east, ending approximately half a mile past the interchange. The project is tentatively scheduled for construction in summer of 2023.

Also, the Montana Department of Transportation plans to resurface about 4 miles of Interstate 90 west of Big Timber in Sweet Grass County. The project begins approximately 6 miles east of Springdale, and extends east, ending approximately 4 miles west of Big Timber. The project is tentatively scheduled for construction in the summer of 2025.

The famous M&M Bar in Butte has reopened following its destruction on May, 2021 by fire. The business has been rebuilt next to its original location.

Recent flooding and ice jams have triggered partial closures at Eight Mile Ford and Burnt Tree Hole fishing access sites on the Madison River south of Ennis. The boat ramp areas at these sites are closed due to unstable ice and hazardous flooding conditions. However, the upper walk-in and parking areas remain open.

Feds Consider Pulling Threatened Status of Grizzly

21 February 2023
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By Chris Woodward, The Center Square

U.S. Fish and Wildlife Service has accepted Montana’s petition to delist grizzly bears in the Northern Continental Divide Ecosystem. Governor Greg Gianforte petitioned the federal government to delist in December 2021. 

“After decades of work, the grizzly bear has more than recovered in the NCDE, which represents a conservation success,” said Gianforte in a press release. “As part of that conservation success, the federal government has accepted our petition to delist the grizzly in the NCDE, opening the door to state management of this iconic American species.”

The petition from Gianforte said NCDE grizzly bears are not only “within a distinct population” but have “far surpassed” population recovery goals. Gianforte also said that Montana Fish, Wildlife & Parks is capable of managing the bears. 

“FWP monitors grizzly bears in the NCDE with the best available science and a team of dedicated specialists,” said the governor’s office. “Although grizzly bears in the lower 48 states have remained under the jurisdiction of the U.S. Fish and Wildlife Service, much of the day-to-day management is done by FWP’s specialists who work with landowners and the public to address conflicts and increase safety and education in bear country.”

In 1975, grizzly bears were listed as threatened under the Endangered Species Act. The population of grizzly bears in the continental U.S. was then believed to be in the hundreds. Gianforte’s office said Friday the population in just the NCDE is approximately 1100.

Economically Speaking:

21 February 2023
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From the National Association of Manufacturers:

* The U.S. trade deficit rose from $61.02 billion in November, the lowest since September 2020, to $67.42 billion in December. The trade deficit was highly volatile in 2022, ranging from the low seen in November to the record high seen in March ($106.40 billion).

* These wild swings were the result of supply chain disruptions, slowing global growth, strength in the U.S. dollar and petroleum prices. The monthly trade deficit averaged a record $79.01 billion in 2022, up from $54.50 billion and $70.42 billion in 2020 and 2021, respectively.

* The increased trade deficit in December stemmed from a reduction in goods exports (down from $171.08 billion to $168.14 billion, a 10-month low) that corresponded with higher goods imports (up from $254.28 billion to $258.78 billion). As a result, the goods trade deficit rose from $83.20 billion to $90.64 billion.

* At the same time, the service-sector trade surplus increased from $22.18 billion to $23.22 billion, a three-year high.

* U.S.-manufactured goods exports totaled $1,292.03 billion in 2022, using non-seasonally adjusted data, soaring 13.84% from $1,134.97 billion in 2021. Likewise, manufactured goods imports grew 13.63% from $2,460.41 billion in 2021 to $2,795.82 billion in 2022.   

* The Index of Consumer Sentiment rose from 64.9 in January to 66.4 in February, a 13-month high, according to preliminary data from the University of Michigan and Thomson Reuters. Assessments of current conditions improved strongly, buoyed by labor market strength and slowing inflation data. Expectations of future conditions slipped a little in February, however.

* Overall, while Americans remain uncertain about geopolitical events and the economy, it is encouraging to see consumer confidence trend in the right direction, even as sentiment remains lower than preferred.

* U.S. consumer credit outstanding rose 2.9% at the annual rate in December, slowing from 8.4% in November. Revolving credit, which includes credit cards and other credit lines, grew 7.3% in December, easing from 15.6% growth in November but remaining a solid figure.

* Even with some deceleration in the latest month, Americans have continued to be willing to take on new debt, helping to buoy increased consumer spending. Indeed, U.S. consumer credit outstanding has increased 7.8% over the past 12 months, with revolving credit soaring 14.8% year-over-year.

After seeing disappointing industrial production and retail sales at the end of last year, the data this week should provide signs of whether activity bounced back in January, both with consumer spending and for manufacturing production. In addition, pricing data are expected to show some continued moderation for both consumers and producers.

Building Permits February 15, 2023

21 February 2023
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Commercial

CommercialCity Of Billings (Airport)/ Monarch Limited Of Montana, 2390 Overlook Dr, Com New Other, $2,550,000

 Girls Scouts Of Montana & Wyomimg/ Construct One, 2303 Grand Ave, Com New Other, $175,000

 Gen 7 Construction LLC/ Collishaw Marital Trust, 1142 S 29th St W, Com New Other, $410,807

 Rob Veltkamp/ Gen 7 Construction LLC, 1146 S 29th St W, Com New Other, $410,807

 Robin L Morton Trust/ T.W. Clark Construction LLC, 2220 Grant Rd, Com Remodel, $815,000

 City Of Billings (Airport)/ Morgan Contractors Inc, 1901 Terminal Cir, Com Remodel $350,000

Kathy Bolin/ Laughlin Construction Inc,.2701 1st Ave N, Com Remodel, $150,000.

Town And Country Supply Association/ Millennium Construction &

Consulting Inc, 523 Hilltop Rd, Demolition Permit Commercial, $30,000

City Of Billings The, 260 Stewart Park Rd, Com Footing/Foundation, $20,000

 Ross Development LLC/ Beartooth Holding & Construction, 1302 Golden Valley Cir, Com Remodel, $360,000

 Jon Lorash/ Bauer Construction, 1611 Zimmerman Trl, Com Remodel, $640,800

 Christ The King Evangelical Lu/. 752 Calhoun Ln, Com Remodel, $20,000

Collishaw Marital Trust/ Gen 7 Construction LLC, 1144 S 29th St W. Com New Other. $410,807

 Amber Hirschi, 1423 38th St W, Com Remodel, $150,000

 Jeremy Freyenhagen/ Wegner Homes, 1343 Broadwater Ave, Com Remodel, $59,362

 Daniel Harris/ Hardy Construction Co., 1233 N 30th St, Com Remodel, $40,000

 Daniel Harris/ Hardy Construction Co., 1233 N 30th St, Com Remodel, $300,000

 Players Club Inc/ Hardy Construction Co., 247 Main St, Com Remodel, $500

Rommesmo Family Limited Partnership/ Marketing Specialties, Inc., 1501 S 30th St W, Com Addition, $50,000

 VTR Properties Llc/ Reichenbach Construction Inc, 2615 4th Ave S, Com Addition, $947,000

 School District #2/ Empire Roofing Inc, 221 29th St W, Com Fence/Roof/Siding, $265,242

 School District No 2/ Empire Roofing Inc, 1315 Lewis Ave, Com Fence/Roof/Siding, $408,758

 Erving Properties Llc/ G & L Enterprizes Inc, 19 S 28th St, Com Fence/Roof/Siding, $3,722

2316 First Ave North Llc/    T.W. Clark Construction Llc, 2310 1st Ave N, Com New Other, $11,000,000

 Bfwy Real Estate Holdings, Llc/ T.W. Clark Construction Llc, 1509 Rehberg Ln, Com New Restaurant/Casino/Bar, $1,000,000

 Atc For Dish Wireless, 526 Bernard St, Com Remodel, $50,000

 Morledge-Hampton Family Llc/ Langlas & Assoc., Inc., 1704 Poly Dr, Com Remodel, $20,000

 Albert Gilbert/ Neumann Construction, 2860 Grand Ave, Com Remodel, $92,000

 Sisters Of Charith Of Leavenwortyh/ Hardy Construction Co., 1233 N 30th St, Com Remodel, $350,000

Residential

Mccall Development Inc/ Mccall Development, 6105 Elysian Rd, Res New Single aFamily, $155,302

Mike Christensen/ Michael Christensen Homes, 2514 Buffalo Ridge Trl, Res New Single Family, $450,000

Mike Christensen/ Michael Christensen Homes, 2510 Buffalo Ridge Trl, Res New Single Family, $450,000

 McCall Development/ McCall Development, 6188 Johanns Meadow Ln, Res New Single Family, $291,509

 Billings Home Run LLC/ ABCO Billings LLC, 5744 W Mets Way, Res New Two Family, $125,040

 Billings Home Run LLC/ ABCO Billings LLC, 5738 W Mets Way, Res New Two Family, $125,040

South Pine Design/ South Pine Design, 5314 N Iron Mountain Rd, Res New Single Family, $450,000

 Infinity Homes/ Infinity Home LLC, 7052 Copper View Way, Res New Single Family, $300,031

“Rich-cession” Looms in 2023

21 February 2023
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While Montana’s economy has been doing quite well over the past couple ofyears, economists are projecting changing winds in 2023.

During the recent Economic Outlook Seminar, Bureau of Business and Economic Research Economist Pat Barkey said that while Montana’s economy grew by over two percent in 2022 it is likely to plummet to zero in 2023 and perhaps even dip into negative territory of  -1.1 percent. 

Barkey said that whether there will be a recession is uncertain. He noted, “A recession was supposed to be here last year.” A recession is still more likely than not – at the very least, the state’s economy will slow significantly, he said. Whatever the next year brings, “it will be a lot different than a year ago.”

In fact, Barkey explained that “There’s something called the Fed recession in our future. It’s been engineered, it’s there, it’s something the Fed is trying to do, or might do.”

While some aspects of inflation have slowed, there remains the likelihood of higher interest rates and diminished investments.

The impact of a recession could be lessened for Montana should the in-migration from other states continue, bringing with them more spending and wealth to the state. It was reiterated several times that the new comers to Montana are good for the state because they are bringing new wealth and spend money.

Barkey said he calls the likely downturn the “rich-cession” because it has had a bigger impact on higher income people than lower income. That is due in large part because of the huge demand for labor.

While not all the numbers are in, overall 2022 appears to have been a very good year for Montana, continuing the economic surge the state experienced in 2021. Statewide average growth was over 5.3 percent in 2021 – the highest it had been since 2006.

According to BBER, 2021 growth was well above average in Flathead, Gallatin and Missoula Counties, driven by the reopening of the economy after the pandemic. The one exception in the state was counties in the eastern portion of the state that are dependent upon the oil and gas industry, which has struggled given that political winds directed investment away from it.

Most of Montana’s economic activity and growth happens in its seven population centers – only 10 percent of state growth occurred outside the seven largest counties.

Perhaps, much to some people’s surprise, Barkey said that mining is Montana’s and Yellowstone County’s most prominent industry.

Barkey expressed some dissatisfaction for the decisions of the Federal Reserve because they were slow in raising interest rates – “they were asleep,” he said. Raising interest rates sooner would have slowed consumer spending sooner, which is what is driving the US economy and needs to be “moderated”.

”We are starting to run out of fuel for consumer spending,” he said, noting that consumers are running out of savings and starting to rack up charges on their credit cards.

“The economy is healing but not healed.”

Inflation is starting to ease a bit – lumber prices have come back down, commodity prices have “settled down”, big ticket consumer purchases are expected to decline in price 4 percent —“all prices are softening.” “Supply chain congestion is better than a year ago.”

While housing prices increased 52 percent statewide since 2020, creating affordability issues for many people, they have weakened somewhat but home sales have slowed.  As interest rates increase home sales will continue to be slow.

Nevertheless, the construction industry has continued to be strong and may become stronger as material prices decline.

A real concern is energy prices, which have come down somewhat but are “still 42 percent higher since the pandemic.” Barkey was critical of President Biden’s policies which have discouraged investors to invest in oil and gas, which has kept the industry down and gas prices high. That industry’s struggles has been very detrimental to Montana, and to Yellowstone County other eastern Montana counties.

Since the economic impacts of COVID mandates,Montana’s health care industry has had significant struggles dealing with labor shortages and rising costs. It is expected to ease in 2023, however.

Lower consumer prices will ease pressure on the labor market. “We need less demand for workers; those pressures are pushing up costs,” said Barkey, but he also pointed out that the labor shortage was materializing before the pandemic. “The workers are there – they are working – the problem is we need more of them.”

There has been a seven percent increase in wages – but that is not more than the rate of inflation.

“Wages ae not so fat and happy as you think.”

The strength of Montana’s economy over the past couple years is evidenced in income tax collections in the state. They still show double digit growth, but “beware of any forecasting,” warned Barkey, “No one knows where you are until we go through April” – and can see tax returns.

“Last year’s 2 percent growth is amazing.” but Barkey’s forecast for 2023 will see a “slamming on the brakes” for the state.

Montana’s economy may not be as dependent upon performance as it is dependent upon the “fragile” world economy.

Barkey provided predictions from HIS Markit:

—While 2023 may see a recession it will also see the beginning of a recovery from recession which will gain momentum in 2024.

—economic weakness is expected in several segments with residential investment leading the way.

—the price of US farm output, currently more than double its pandemic low, which remain elevated through 2022 will ease as crops come in in 2023.

—slowing growth will cause oil prices to ease to $84.

—consumer spending will grow modestly through 2024, constrained by a rebound in personal savings rate from the unsustainable lows below 3 percent. Fixed income will decline to 4.1 percent in 2023 with weakness concentrated in construction, both residential and nonresidential.

—labor markets will remain tight but the trend in payroll gains is slowing.

—the fed will raise its policy rate by March to the range of 4.75 percent to five percent and allow its balance sheet to decline by about one-third through 2024.

—inflation will decline in three steps. Already underway are declines in the prices of energy and agricultural commodities that are allowing headline inflation to fall quickly below core inflation. In a second step there will be easing in supply-chain tensions, or decline in the pries of certain core goods; such as vehicles, fist used and then new. In step thee, a recession eventually tempers inflation pressures emanating from labor markets.

—a risk exists that a resilient economy remains strong for longer than previously anticipated, requiring a more aggressive and persistent monetary tightening (higher interest rates) to contain inflation which would precipitate a later and more severe recession.

Montana’s Unemployment Rate Continues to Decline

10 February 2023
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Following a year of records for low unemployment, labor force growth, and total employment, Montana’s unemployment rate fell to 2.8% in December as the state’s total employment and labor force reached an all-time high.

Governor Greg Gianforte said, “Thanks to the hard work of Montanans and our pro-business, pro-growth, pro-jobs policies, 2022 was a year of record-setting economic growth for Montana. In the year ahead, we’ll continue to cut red tape and other unnecessary burdens on small businesses, create good-paying Montana jobs, and invest in our workforce to ensure Montana workers have the skills they need to succeed and thrive.”

Total employment rose by nearly 1,400 jobs in December to a new record high of over 553,000 jobs.

Montana’s labor force also continued its strong growth in December, rising by some 700 workers to more than 568,800, another all-time high.

Montana added 2,800 payroll jobs in December, with broad-based job gains led by the professional and business services and retail trade industries.

Over the course of 2022, Montana set several records for low unemployment, labor force growth, and total employment.

At the start of 2023, total employment is at an all-time high in Montana, having grown by more than 15,300 jobs over the course of the year. Montanans have created nearly 33,500 new jobs since Governor Gianforte was elected. Total employment has grown in Montana in 22 of the 23 months Governor Gianforte has been in office.

Montana’s labor force is also at an all-time high, with thousands of workers rejoining the labor force since the COVID-19 pandemic. Montana’s labor force today is almost 22,000 workers larger than it was pre-pandemic.

Montana’s unemployment rate set new records in 2022, reaching 2.3% in March and April, the lowest level ever recorded. Montana’s unemployment rate has dipped below 3% in just 16 months since recordkeeping began. Fifteen of those 16 months have taken place during Governor Gianforte’s tenure.

Mft. & International Day March 16, Helena

10 February 2023
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Per the U.S. Chamber’s recently released State of American Business, the worker shortage trend is getting worse, with 10.5 million unfilled jobs. For every 100 U.S. job openings there are only 73 available workers. Manufacturing has been a stable economic factor for decades but with the growing skills gap and workforce shortages, innovation is key to sustainability.

Montana Chamber and the Montana Manufacturing Association are bringing together manufacturing leaders, executives, and employees alongside business associations and local chamber members and legislators for Manufacturing & International Trade Day, on March 16, in Helena, 10 am – 7 pm / $75 per person (includes reception

The event features solution-oriented seminars and keynotes from leading industry experts along with a Trade Show.

Registration information is available on the Montana Chamber website.

More People Quit Each Month in Montana than in Most States

9 February 2023
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A study by finance experts Creditos En USA analyzed data from the US Bureau of Labor Statistics on the “quit” rates in each state from July to October 2022. Quit rates being how many people quit a job and move on.

It found that Montana places third, with a 3.6% quit rate, which equates to a monthly average of 18,000 people quitting.

Alaska has the highest quit rates in the country, as on average 4.33% of people quit their job each month during the four months that were measured – considerably higher than the national average of 2.68%. That equates to 13,750 people in Alaska deciding to leave their job each month.

In second place is Georgia, which had a quit rate of 3.85% between July and October 2022 – meaning that on average 186,000 people in the state were handing in their notice every month.

Mississippi is in fourth with 3.58% of the working population quitting each month, ahead of Arizona in fifth (3.48%).

At the other end of the scale, New York had the lowest percentage of people quitting, with an average of just 1.7%. That works out as 161,500 people leaving their jobs in the state each month. It means that people in Alaska are 2.5 times more likely to quit their job than people in New York.

Washington DC ranks just above New York with a quit rate of 2%, while New Jersey and Connecticut are tied just above it on 2.08%.

On the national scale, an average of 4,082,000 Americans quit their job every month, but the latest figures show that year-on-year resignations are down – in October 2021, 4,132,000 quit their jobs, compared to 4,026,000 quitting in October 2022. That is more than 100,000 people fewer, and a fall from 2.8% to 2.6% of the population.

Commenting on the study, a spokesperson for Creditos En USA said: “It’s fascinating to see the considerable regional variations in quit rates across the country. The top three states where people are most likely to quit are all quite different in their geographies and demographics, but it seems they are united by a high proportion of people deciding to leave their jobs. Across the US, it’s remarkable to think that four million people each month choose to quit – that’s equivalent to the entire population of Oklahoma.”

Montana ‘won’t undermine’ Taxpayer Returns with ESG Investments

9 February 2023
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By Chris Woodward, The Center Square

Montana will no longer allow state funds to go towards environmental, social, and governance (ESG) investing.

Joining the Montana Board of Investments in his announcement, Gov. Greg Gianforte said recently his administration is committed to getting returns on $26 billion in investments of the state’s financial assets, but it “will not advance a political agenda.”

“As the State of Montana invests its financial assets, our priority is and should always be maximizing returns for our shareholders – the people of Montana,” the governor said in a press release. “On my watch, we won’t undermine taxpayers’ returns on investment in favor of the trend of activist, woke capitalism through ESG investing.”

ESG is defined by Investopedia as a set of standards that socially conscious voters use to screen investments. Critics say investment firms are using “activist” ESG policies regardless of what investors want. 

Stephen Soukup, who’s head of the investment consulting group The Political Forum, applauded Gianforte and the board’s move, saying ESG is a “top-down, anti-democratic, and coercive investment technique that takes power out of the hands of the people’s representatives and hands it to large, centralized multinational asset management firms who should be investing on behalf of their clients’ best pecuniary interests.”

“I think that state executives, treasurers, comptrollers, and pension boards should most definitely be willing to take back control of pension investment decisions from large Wall Street firms,” Soukup told The Center Square.  “The top-down, one-size-fits-all approach of the big firms misses and ignores state and local needs, beliefs, and investment goals and is, therefore, an unfit solution.” 

Soukup, whose books include ‘The Dictatorship of Woke Capital” and the upcoming “Other People’s Money,” thinks there is a lesson here for elected officials across the nation.  

“Governor Gianforte and the Montana Board of Investments are exercising their responsibilities as fiduciaries of the people of Montana,” Soukup said. “More politicians – right, left, and in between – should follow their lead and put the community interests of their constituents ahead of the ideological predispositions of the Wall Street mega-firms.”

PERC Fund Compensates Ranchers For Brucellosis Costs

8 February 2023
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By Derek Draplin, The Center Square

A new program launched by a Bozeman-based research group will offer privately-funded financial incentives to ranchers for brucellosis-related costs that might arise from allowing migrating elk on their land.

The Property and Environment Research Center (PERC) says its Paradise Valley Brucellosis Compensation Fund “will help ease the financial burden” for ranchers whose land is used for migrating elk, which can expose cattle to brucellosis and its costly effects.

Brucellosis is a contagious bacteria endemic to some elk and bison populations in the U.S., and transmission “has occurred in several cattle herds commingling with infected elk in the greater Yellowstone Park area,” according to the Merck Veterinary Manual. 

PERC CEO Brian Yablonski said the fund “is a creative market solution that allows conservationists to help reduce a major source of concern for the private stewards of elk habitat.”

“There is a significant opportunity for conservationists to privately fund and protect open space that migrating elk depend on in the Greater Yellowstone Ecosystem,” he said. “If these ranches were to be carved up and developed, it would be devastating for elk herds and everyone who loves them. 

The fund will begin in January as a three-year pilot program that any cattle ranchers in Paradise Valley can participate in, PERC said. There will be $100,000 to $150,000 available to participating ranchers, funding which will cover between 50% to 75% of costs associated with quarantining a cattle herd after brucellosis is detected. 

“By sharing the costs that come with providing habitat, this novel approach can increase landowner support for living with wildlife, build trust within the community, and help ensure migration routes and winter range on private lands remain open and avoid subdivision development,” Greater Yellowstone Coalition Executive Director Scott Christensen said in a statement.