Economic development summit opens in Butte

Ambassadors from China and five other countries joined Montana Sen. Max Baucus and more than 2,000 people Monday in opening the fourth annual Montana Economic Development Summit.

Federal Reserve Chairman Ben Bernanke, Microsoft Corp. Chairman Bill Gates, former Treasury Secretary Robert Rubin, Anheuser-Busch Cos. President and CEO August Busch IV and other high-profile officials were expected to speak at the two-day event at Montana Tech, which drew a record registration.

Baucus, D-Mont., urged attendees to "think outside the box" and not let politics get in the way of good ideas to keep Montana's economy humming.

"Nothing of consequence ever comes without working together," he said. "And if we cannot work together, we won't achieve the goals that we have set out."

Montana's unemployment rate is among the lowest in the nation at 2 percent, and state wages are growing rapidly, Baucus said.

But energy, housing and health care costs are also rising, and Montanans need to think of new ways to keep that job and wage growth going, he said.

"Montana has the resources to create economic progress for the long term," Baucus said. "We have the best workers. We have a governor committed to making our great schools even better. We have energy resources, and we have an entrepreneurial spirit.

"These ingredients will add up to success, if we keep looking forward, engaging the world and adapting to meet tomorrow's challenges. If we remain innovative, nothing will limit our potential."

In a panel discussion, ambassadors from Bahrain, Chile, China, Indonesia, Panama and South Korea said the Treasure State had exceeded their expectations and expressed interest in strengthening trade ties and not just for beef, wheat and other agricultural products.

"There is a broad mix of industry opportunities that we have seen. ... and Montanans have been very fast at finding them," said Panama Ambassador Frederico A. Humbert.

The theme of this year's summit is innovation. It is intended to explore ways to foster the entrepreneurial spirit in Montana and how Montanans can better market their products and ideas.

On the Net:

Economic Development Summit: http://www.montanaeconomicsummit07.org