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about three cows for every person in Montana, and although agriculture is the most pros-
perous industry in the state, it only accounts for less than 5 percent of total employment.
Cities like Butte and Helena benefited from the mining boom of the late 19th and early
20th centuries. Butte was once one of the richest cities in the country, spurred by the large
amount of copper in the area. Today, mining and resource extraction continue to be a large
part of Montana's economy. Its coal reserves are the largest in the nation, and the mountain
ranges of central, southern, and western Montana hold large ore deposits of copper, gold,
lead, silver, and zinc. Montana is the 5th-largest producer of gold and coal in the nation,
11th in crude oil production, and a national leader in talc and vermiculite. The Stillwater
Mine in Columbus is the only palladium and platinum producer in the country. In July 2013,
there were 9,500 workers in the natural resources and mining industry.
Tourism is Montana's second-ranked and fastest-growing industry. An estimated 10.5
million visitors in 2010 generated $2.5 billion in income for the state. The nonresident
travel industry in Montana accounts for roughly 28,000 jobs (over 5 percent of the state's
jobs and $785 million in personal income).
The timber industry has played a large and important part in Montana's economic
growth but has recently fallen on hard times. Montana lumber production in 2009 was the
lowest since the end of World War II. Commodity lumber prices fell another 5 percent
2010-2011, and production levels were down too in the same period. As demand for timber
has decreased and the need for skilled workers has increased in the oil and natural gas fields
in eastern Montana and North Dakota, the timber industry has suffered big losses. Compare
primary sales of wood products in 2006 at just under $1 billion to $314 million in 2011.
Other industries that contribute significantly to Montana's economic output are con-
struction, the retail trade, real estate, health care, education, and government. Montana also
has a growing high-tech sector, particularly in Bozeman, Missoula, and Kalispell. The uni-
versities in Missoula and Bozeman are two of the state's largest employers, as are Costco,
First Interstate Bank, Northwestern Energy, and Town Pump. Many of the top 20 employers
are in the health care field—including hospitals and clinics in Billings, Great Falls, Kalis-
pell, Missoula, Bozeman, and Helena. There were more than 88,000 government—local,
state, and federal—employees in July 2013.
Montana's economy outperformed the national economy in real gross domestic product
(GDP) 2001-2008, but Montana has struggled somewhat during the recovery, with down-
ward trends in 2008-2009, and then minimal growth 2010-2013. The fact that Montana's
economy is more reliant on industries that are faring well—agriculture, energy, construc-
tion, and health care—bodes well for the future. According to the U.S. Census Bureau,
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