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Gazette opinion: Diversify or die, it’s our choice

There is one more town from which Montana can draw a lesson; it’s Billings. For decades, as an oil town, Billings lived the cyclical and painful booms and busts that would happen every time oil rose or fell in price. Yet, visionary leaders after the last big bust of the early 1980s decided something different for The Magic City. Those leaders realized they could keep oil and extractive businesses in town, but also diversify the economic portfolio. It wasn’t a matter of abandoning energy, it was a matter of diversifying the economy to include a strong medical corridor, more tourism, thriving retail and more banking and professional businesses. Strengthening other sectors only buoyed the entire economy and we continued to grow as a hub city.

Full Opinion: http://billingsgazette.com/news/opinion/editorial/gazette-opinion/gazette-opinion-diversify-or-die-it-s-our-choice/article_f2ff3858-71d6-5915-a687-7c5a2f78425f.html

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