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Great Falls has a lot of strengths to build on, including a skilled work force, good health care system, strong schools and emerging energy business, economic development consultants told business and community leaders Tuesday.
Consultants with Praxis Strategy Group of Grand Forks, N.D., are researching ways to diversify the economy of Cascade County and four Sweet Grass Development counties to the northwest, focusing on strategies to increase development in agricultural processing, energy and small business development.
They've met with business people and community leaders in the region, and reported back what they've learned to two focus meetings in Great Falls.
"We've done a lot of interviews and are hearing examples of opportunities and momentum to build on," Doug McDonald said.
The area's weaknesses are lack of a unified message to make businesses want to locate here and institutional barriers, such as lack of rail competition, he said.
The region has business growth opportunities in several areas, including small manufacturing, wind and passive energy, and agricultural processing, he said.
The main threat to growth is the same for the rest of the country, an uncertain economy that could hurt access to development capital, he said.
Dexter Busby of Montana Refining was interested in one statistic, showing only 21 percent of Great Falls adults have a bachelor's degree, compared with 46 percent in Bozeman, 38 percent in Missoula, 33 percent in Helena and 28 percent in Billings.
"I think we send as many kids to college as other cities, but have a brain drain, with fewer young adults returning here because they can't find jobs," he said.
Consultants said they hope to provide plans to help change that with a combination of good schools, specialized training from MSU-Great Falls College of Technology and business growth.
They said Great Falls is showing growth in agricultural processing, energy and tourism and has promise in manufacturing.
The $564,000 study is funded by grants from the Defense Department Office of Economic Adjustment, following the deactivation of a Malmstrom Air Force Base missile wing, and the Montana Commerce Department. It's due to be complete, with a range of action plans, by mid-April.
