Economic outlook forum is Wednesday

Participants will get an overview of the economic condition of Montana and the Hi-Line region at the economic outlook seminar planned for 8 a.m Wednesday at Hensler Auditorium at Montana State University-Northern.

Patrick Barkey, director of the Bureau of Business and Economic Research at the University of Montana, will highlight the session, which is expected to last until 2 p.m.

The session will also include a detailed look at Montana’s property tax system and the problems it faces.

The seminars travel to seven cities in the state annually. Havre and Miles City take turns hosting the eighth session.

Barkey said the discussion on north-central Montana’s economy will take a look at the transportation, energy and agricultural fields, the mainstays ot the area’s economy.

A group of eight experts on the state economy will speak, he said.

The area’s economy varies from the rest of the state, he said.

The state’s economic picture is pretty strong, he said, as it rebounds from the recession.

The jobless rate is down, and new jobs are being created.

But in north-central Montana, he said, the three main industries made it through the recession all right, but have faced setbacks recently, he said.

BNSF Railway has seen a downturn along the Hi-Line, he said.

The decline of oil production in the Bakken has caused some of the difficulties, he said.

But a bigger problem is that fewer Americans are buying Asian products, a trend few people expected. Most of those products moved by rail, he said.

Farm prices, especially wheat prices have declined after a few years of record prices, he said, and that has had a ripple effect on the economy.

The reduction in natural gas exploration and the decline in the Bakken oil production has meant that the energy sector of the economy has suffered, he said.

The economic outlook seminar this year will be part of the governor's Invest in Success program that will be held Tuesday and Wednesday at Northern.

More than 200 businesses are expected to take part in the programs that will be highlighted by a keynote speech by Paul Lewach of Loenbro in Great Falls, a multi-service company that started with two people and now employs 250 people.

Forum schedule:

7:45 to 8 a.m. — Coffee and registration

8 to to 8:15 a.m. — Introduction and overview, Patrick Barkey, director, University of Montana Bureau of Business and Economic Research — UM BBER

8:15 to 9:05 a.m. — U.S., Montana and local outlooks, Barkey and Paul Polzin, director emeritus of UM BBER

9:05 to 9:25 a.m. — Health care, Bryce Ward, director, Health Care Research, UM BBER

9:35 to 9:45 a.m. — Coffee break

9:35 to 9:55 a.m. — Nonresident travel — Norma Nickerson, director, UM Institute for Tourism and Recreation Research

9:55 to 10:15 a.m. — Agriculture, George Haynes, professor and agriculture specialist, Montana State University in Bozeman

10:15 to 10:35 a.m. — Manufacturing and forest products, Todd Morgan, director Forest Industry Research, UM BBER

10:35 to 10:45 a.m. — Coffee break

10:45 to 11:05 a.m. — Real estate, Kyle Morrill, forecasting and senior economist, UM BBER

11:05 to 11:25 a.m. — Energy — Terry Johnson, director, Natural Resources and Energy Research Program, UM BBER

11:25 to 11:40 a.m. — Local expert report

11:40 to 11:50 a.m. — Wrap-up and summary, Patrick Barkey, director, UM BBER

11:50 to noon — Break

Noon to 12:50p.m. Keynote speakers

Introduction of keynote, Bob Rowe, CEO, NorthWestern Energy

Doug Young, Professor Emeritus, MSU in Bozeman Paul Lewach of Loenbro in Great Falls, lunch provided

12:50 p.m. — Closing remarks