Economic Summit
 | Author:
Lindsey Richtmyer, Broadwater County Commissioner
Broadwater county Commissioner |
Economic Summit
Lindsey Richtmyer
Broadwater County Commissioner
The second annual Big Sky, Big Future Economic Summit took place last week in Bozeman. Co-hosted by Governor Gianforte and the Montana Chamber of Commerce, the one-day event was packed with renowned keynote speakers, nationwide business leaders, and state and federal lawmakers.
The Montana Chamber of Commerce led the day’s discussions with an introduction summarizing Envision 2026, its long-range strategic plan that launched in 2016. According to the event program, Envision 2026 has four objectives or “pillars of a competitive and thriving economy” to “create opportunities for growth and prosperity” in the state. The first focus is the business climate, which includes lowering taxes, improving the legal environment, and “untangling” rules and regulations. The other objectives are entrepreneurship, workforce readiness through education and skills training, and upgrading Montana’s aging infrastructure to promote economic growth and diversity across the state. As Envision 2026 ends this coming year, the Chamber is asking for input and feedback to help guide and identify business priorities in its next 10-year plan.
Several speakers and panels emphasized Montana’s increasingly business-friendly climate and efficient permitting, which has helped attract businesses to the state, but the summit’s recurring theme centered on the increasing worldwide demand for reliable energy.
Several industry leaders in attendance likened the global race for energy and technology dominance to the Cold War arms race. With an expected 20% growth in electricity demand in the next 10 years, an “all of the above” energy portfolio is essential for any company generating power. This means both renewable and traditional fuels will continue to play a major role in energy production, and suppliers will need to be diversified across all options.
With the explosive growth of AI and data centers, power reliability is the chief concern. Several of the speakers expressed that this demand must be met in a safe and sustainable way with a “no harm” principle. Data centers themselves were also discussed as a possible “anchor” to build needed transmission and gas infrastructure. Officials said Montana is at the intersection of multiple power markets, which provides opportunities to use external and regional markets to help consumers and increase the energy capacity in the state.
As the AI race for dominance ensues, Mountain West states like Montana are quickly becoming an ideal choice for data center locations. The cooler climate is ideal, requiring less cooling and water use. In some places data centers have become their own power suppliers, setting up a “microgrid,” and foregoing traditional, front-of-the-meter power sources.
Ultimately, the message at the Summit was clear. Data centers and AI are coming and the demand for reliable, baseload power and transmission is here, with little expectation of it decreasing. While demand may wane somewhat in years to come, the need for AI will continue to drive changes in business and in the workplace. The climate is a catalyst for entrepreneurship, business, and production to meet that demand.
As more data centers consider locating in Montana, expect the debate and conversation around water and power production to continue.
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PhotoCredit: Lindsey Richtmyer
Image 1 Caption: Broadwater County Commissioner Lindsey Richtmyer
