Report: Montana's high-tech sector generated $7.9B in '24, AI adoption is widespread

Wages at those tech companies reached an average of $146,000 last year, which is about 2.4 times Montana's overall average wage of $62,000 per worker.

The industry generated about $7.9 billion in revenue in 2024.

"The data shows that Montana's technology industry has become a larger and more competitive part of the state's economy," said Jeffrey Michael, director of the UM research bureau. "The combination of strong wage growth and increasing economic impact points to an industry that continues to evolve rapidly."

The report said that AI adoption is widespread across the industry. About 87% of responding firms used AI daily or occasionally, and 76% said that AI is "moderately or extremely" important to their growth. 

For the first time ever in the annual survey, companies reported AI skills as one of the main considerations in hiring.

“These findings underscore the need to help Montana workers, employers, educators and communities build the AI literacy required to participate in the next phase of economic growth,” said Christina Quick Henderson, executive director of the Montana High Tech Business Alliance.

Bozeman, Kalispell and Missoula are the hot spots in Montana for concentrations of tech firms. In the Missoula area, the top industry subsectors are software, software as a service, and telecommunications.

Access to capital funding was one of the main concerns from companies when asked about their impediments to faster growth. Talent recruitment and customer acquisition are the next biggest challenges. All three have been consistent concerns since 2020.

The alliance asked tech firms to just give them any observations about the industry as well. Two anonymous comments were highlighted.

"There is near zero access to capital in Montana," said one respondent. "We cannot have a startup ecosystem until this is solved.”

Another respondent said it's hard to hire within Montana for open jobs.

"We've found it incredibly difficult to get our open positions out in front of qualified individuals in Montana," the respondent said. "Any opportunities to connect with folks already in Montana looking for work in the tech industry would be highly valued.”

Montana does have an advantage over some states, however, because remote workers and other tech workers are attracted to the recreational opportunities here.

The full 2026 Montana High Tech Industries Report is available online at mthightech.org.

Gov. Greg Gianforte, himself a former tech company founder and executive, also sent out a press release recognizing the positive aspects of the report.

“As Montana leads the nation with one of the fastest-growing economies, this new data reveals the high-tech industry is having an emerging role in our success with significant contributions to our economy and the creation of high-paying jobs,” he said in a statement. “Entrepreneurs, innovators, and job creators are choosing to invest in Montana to enjoy our unmatched quality of life and skilled workforce and joining a growing hub of opportunity.”