Seminar focuses on local, state economy

Montana’s economy is the subject of an economic outlook seminar slated for Friday, Feb. 11, at the Hilton Garden Inn in Kalispell.

The seminar is dubbed “Paying for the recession — rebalancing Montana’s economy.” It begins with registration at 7:45 a.m. and introductions at 8 a.m. The seminar wraps up with 10 minutes of closing remarks at 12:50 p.m. Lunch is included in the $80 registration fee.

Patrick Barkey, director of the Bureau of Business and Economic Research at the University of Montana, headlines the list of speakers who will discuss what has happened and what needs to happen to bring growth in the state back into balance.

Barkey points out that as the economy has begun emerging from the worst recession since the 1930s, damage is apparent in the forms of diminished personal income, uncertain housing markets, high unemployment rates, permanent closures of industrial facilities and budget pressures on governments.

“There is more work to do in this recovery than simply restarting growth,” Barkey said. “Governments, businesses and households in Montana are adjusting to a new and different economic picture.”

Barkey predicts that Montana cities will see growth this year as the state moves further out of the recession.

“The climate for growth has improved significantly in the past eight months, especially for energy and agriculture,” Barkey said. “Two years have elapsed since the recession’s lowest point and families and businesses are starting to adjust and both are now positioned to spend more.

“The growth ahead is going to help put at least some folks back to work and get us feeling better about the economy,” Barkey said. However, he points out, some sectors of the economy, including housing and real estate, won’t grow much very soon. “But there is potential for a better economic performance than we’ve seen in four years.”

Another plus for the state, B arkey said, is the federal tax package that cuts federal payroll taxes and gives companies reasons to accelerate investment to take advantage of credits and deductions that later disappear.

Paul Polzin, director emeritus of the economic research bureau, will focus on specific recovery issues for the Flathead Valley during the forum.

Other speakers include Norma Nickerson of the UM Institute of Tourism and Recreation Research. She’ll discuss nonresident travel in the state. Gregg Davis, director of health care and research at UM, will discuss health care.

George Haynes, an agricultural specialist at Montana State University, will brief the audience on agriculture and Scott Rickard, an economist at MSU Billings, will focus on real estate.

Todd Morgan of the economic bureau, is to discuss forest products and manufacturing.

Diane Medler, director of the Kalispell Convention and Visitor Bureau, will discuss tourism. 

To register for the seminar, call the economic research bureau at (406) 243-5113.