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HELENA BUSINESS CLIMATE & TRENDS
From 2003 to Jan. 2005
HELENA – Your Montana Capital City! Source-Helena Chamber of Commerce
Historically Most Stable Economy Of The Larger Cities In Montana
- – Higher Median Income Levels
- – Many corporate offices located here
- – 41% of Local Economy is State Government Jobs
- -- 62% if add in Fed/Local Govt.
- – Traditionally Low Unemployment rate
FACTS TO KNOW….
82% of Lewis & Clark County’s population lives in the Greater Helena Area
Helena’s share of Lewis & Clark County’s employment & income is close to 90%
2000 Census – 79% of county’s growth occurred in Greater Helena Area
Continue at current growth rate….. we will have 60,000 people in the valley compared to 48,000 currently (by year 2025) (17.3% 1990-2000)
More Facts to Know…
Cost of living composite index for Helena (according to recent ACCRA reports)
- – 3rd quarter 2003 –
- 98.36% of national level
- - 3rd quarter 2004 –
- 96.3% of national level
- (compared at 101.5 – 5 yrs ago)
Local Cost of Living Comparisons
3rd quarter Cost of Living Index for 2004
- – Helena 96.3%
- – Billings 98.3%
- – Great Falls Did not report (lowest last yr.)
- – Missoula 100.2%
- – Bozeman 101.4% (highest)
- – Kalispell 100.9%
Employment in Helena Area…
Unemployment fluctuated from 4.1% to 4.3% in 2002 and dropped as low as 3.3 in 2003. 2004: was 3.8%
Job Growth…. for Helena Area by efforts of Gateway Economic Development
- – Over past 4 years….
- 672 jobs have been created or retained
- Investment of more than 12.5 million dollars through Gateway (leveraging public/private dollars)
- Annually 3 million dollars leveraged into regional economy each year.
• According to the 2000 US Census, the average number of employees per business is decreasing at a steady pace in the Helena Area.
78% of all employing establishments in the Helena Area have 10 or less employees
There are over 3000 businesses in the entire Helena Valley
2800 Jefferson County & nearly 500 Broadwater County workers travel to Helena to work each day.
BUILDING FOR TOMORROW
RESIDENTIAL
- – 2001 – 164 permits = $10.14 million
- – 2002 – 151 permits = $12.5 million
- – 2003 – 157 permits = $12.3 million
- – 2004 - 203 permits = $20.8 million
- – Plus 510 Prelim. Approval for lots 2/226 finalized in the county for 2004
Why Residential Stats ? – Big Effect on Business and local economy…
- – business for contractors & jobs
- – Services (phone, utilities, furnishings, landscapers, and additional tax dollars)
Commercial Building…
2001 – 151 permits - $37.1 million
2002 – 150 permits – $22.5 million
2003 – 173 permits - $30.16 million
2004 – 153 permits - $42.26 million
TOTAL PERMITS – ALL PROJECTS
- 2001 – 2231 permits - $56.95 million
- 2002 – 2066 permits - $41.86 million
- 2003 – 2181 permits - $50.36 million
- 2004 – 2666 permits - $70.4 million
Notable Business Construction..
Larger projects permitted in 2004:
Airport Terminal - $6.9 million
Morrison- Maierle Inc. - $4.6 million
St. Peters Hospital - $3.5 million (of $38 million project)
Cinemark Theatre - $3 million
Ross & Hastings Buildings – $2.6 million
Ashley Furniture - $2.1 million
Rocky Mtn. Credit Union - $1.7 million
Galusha, Higgins, Galusha - $1.48 million
Summit Aeronautics Expan. - $1.4 million
MP&E Building - $1.35 million
2004 was a great year for larger projects:
- – 9 projects over 1 million dollars – previously mentioned
- – 3 projects over ¾ million dollars
- (Stahly Engineering, Strawhouse Mkt., & Valley Bank DT)
- - 6 projects over ½ million dollars
- (2 churches- Hannaford & Evangelical; Rosetta Asstd. Living,
- First Community Bank, Colonial Health & Dental, All Star Storage )
- - 1 project over ¼ million
- - (Helena Housing Authority)
- PLUS 17 businesses invested over $100,000. in their building.
2003
Great Northern Area – $70 million+ in area so far…
- – Great Northern Mattress Store
- – CineMark 8-cinema theater - $3 million
- – New Project Coming: Children’s Discovery Museum ($2+ million)
- - New Project Coming: Lewis & Clark Montana Experience Project ($1.3 mill)
2004 Continues the Growth….
West Side of Helena:
New B&C Cabinets
Large addition & new exterior at Homecrafters
Lundy Center got new face lift & signage
Wilder St. – New HHA affordable housing units ($330,000 - ¾ million total)
Downtown/Central Helena:
Finstad’s moved to Old Real Food Store location on Fuller
New West remodeled building
Valley Bank – extensive remodel on downtown location.
Galusha, Higgins, Galusha $1.5 mill
Fed Reserve & Front St. Learning remodels
North Side of Helena:
Waste Water Treatment plant (City)
Ashley Furniture Store/Sleep City
Strawhouse Market
Ross & Hastings Stores & Hardback Cafe
Morrison-Maierle Eng. Building
New Rocky Mtn. Credit Union
East Side of Helena:
New MP&E Building $1.35 million
First Community Bank
Stahly Engineering Building
All Star Storage 250 units
162 homesites on Nob Hill
St. Peters Hospital $3.5 million (of 38 mill)
Quiznos Subs
WalMart Remodel
Rosetta Assisted Living
Pediatric Dental Clinic
Colonial Health & Dental
AIRPORT AREA…
Boardings were up considerably for 2004 with 11% increase! (11.6 % incr. in deboardings)
Terminal Building project is under construction – ($9.2 million) Compl. date of mid 2005 (sq. ft increase from 45,000 to 98,000)
Airport is leading the security programs for small airports – 3 projects for $1.2 million grant for high-tech research project
MORE AIRPORT GROWTH…
Several airport businesses to expand:
*Summit Aeronautics has expanded again with $1.43 million addition
*Great interest in airport property – will see some development this year
*Airport is expanding Fire training & Driver training programs
* MT National Guard 11 million maintenance hangar
Other GROWTH…
COMING THIS YEAR:
38 million expansion at St. Peter’s Hospital
Greatly expanded retail on North Montana St.
Retail Stores w/ Home Depot area
Tourism is good business for Helena…
Conclusion
Overall, Helena businesses report strong sales
Downtown Helena working on promotional ideas and great events. Alive @ Five saw a record of 4000+ at one of their Wed. night events.
Mall exploring expansion & new business attraction or possibly more radical change.
Service industry reports strong sales and business growth
OTHER INFORMATION
POLICOM ECONOMIC STRENGTH REPORT FOR CITIES Over 10,000 but UNDER 50,000:
POLICOM addresses the condition of an economy from the viewpoint of economy’s impact upon the “standard of living” of the people who live and work in an area.
The economic strength rankings are created so POLICOM can study the characteristics of strong and weak economies. The highest ranked areas have had rapid, consistent growth in both size and quality for an extended period of time.
OF 674 cities – Bozeman ranked 9th
and Helena ranked 37th!
OTHER INFORMATION
COLORADO COLLEGE: 2004 State of the Rockies Report Card:
Lewis & Clark County was one of 9 counties in the Rocky Mtn. Region to receive an A+ rating in overall vibrancy & vitality
(in counties of less than 50,000 and more than 2,500 people)
Lewis & Clark County Ranked in top 9 of 169 counties
States of: MT, ID, WYO, NEV., UT, CO, AZ, & NM
CREDITS…..
City of Helena Planning Office & Growth Plan
ACCRA Reports (Chris Brave – Gateway Econ.)
Lewis & Clark County Planning Office
Ron Mercer, Helena Airport
Kathy Brown, Great Northern Town Center
Chris Brave, Gateway Econ. Development
Mt. Research & Analysis Dept.
Helena Area Chamber of Commerce
US Census 2000 * www.policom.com
MT Dept. of Commerce – Travel Montana
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