Message from Provost Royce Engstrom.

In the world of higher education, hardly a day goes by that we don't hear about the financial challenges faced by institutions around the country. Public and private universities alike are faced with unprecedented financial scenarios that are requiring program curtailment, layoffs or furloughs, and other difficult adjustments. Montana is one of the few states, according to the Chronicle of Higher Education, that isn't seeing an absolute decrease in dollars to higher education. The connection between higher education and the Montana economy plays out on both ends--the health of the business climate affects the resource base with which we make educational investments and it determines in large measure the opportunities available to graduates upon finishing their education.

The Montana Business Quarterly has been a long-standing and reliable source of information about the opportunities, challenges, and current status of Montana's business climate. Whether the reader is a lifelong Montanan or a relative newcomer, articles in the Quarterly provide a helpful introduction to the Montana economy, a frank assessment of the health of the various economic sectors, and forecasts that provide a basis for decision-making going forward. The features illustrate the complexity of the business environment and the connectivity among its components. Under the new leadership of Patrick Barkey, the Bureau of Business and Economic Research is carrying on the long tradition of keeping us informed, challenging our assumptions, and educating us about Montana's place in today's business world.

More than ever in our lifetimes, we need reliable information about the economy. Whether in the world of business, education, nonprofits or government, we need to make decisions that can affect us and others for years. The Quarterly helps to ensure that those decisions are based upon the best available data and predictions.

Royce C. Engstrom

Provost and Vice President for Academic Affairs

The University of Montana

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