Opening Statement: Economic Development Summit

By U.S. Sen. Max Baucus, D-Mont. - 05/01/2007

U.S. Sen. Max Baucus, D-Mont.

Thank you very much, Denny, for that kind introduction. You are a great friend. And it is so fitting to have you here with us today.

Most of us here already know Denny Washington’s great success story. But many do not know as much about his great work to prepare our youth for America’s future.

In 1995, Denny Washington was inducted into the Horatio Alger Association of Distinguished Americans. That’s a group of renowned individuals from modest beginnings who have attained notable success. Denny is now Chairman of that organization.

In the second half of the 19th Century, Horatio Alger Jr. wrote more than 100 novels. Those books described struggles to escape hard times through hard work. Frequently, a boy performed some extraordinary act of bravery or honesty. He returned a large sum of money that had been lost, or rescued someone from an overturned carriage. Usually, the boy’s good deed led to recognition, reward, and a chance at the American dream. Alger’s stories celebrated courage, concern for others, and hard work.

Through the Horatio Alger Association, Denny has donated $1 million to create an undergraduate scholarship program for young people who have grown up facing hard times. The program has already awarded more than 200 scholarships of $5,000 each. Denny recently announced a commitment of $2 million to create a Graduate Fellowship Program. His companies hire the best and the brightest. And awarding scholarships to deserving young people is one way that Denny is ensuring that we’ll have the best and brightest workforce in the future. And creating good-paying jobs is why we are here today.

Chancellor Frank Gilmore, thank you and the Montana Tech community for hosting this conference. Frank and his team have worked very hard to accommodate this gathering. And we could not have a better partner in this event. Let’s give a big round of applause to the people of Montana Tech. Go Diggers!

I also want to thank Governor Schweitzer, Senator Tester, and Congressman Rehberg for cosponsoring this event.

This is the Fourth Montana Economic Summit. And from the first summit, I have had three principles.

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First: Nothing is off the table. I want to encourage everyone to think outside the box. And don’t worry if an idea seems too big, or impractical. Only by thinking big, can we succeed big.

Second: No politics. Nothing of consequence ever comes without working together. And if we cannot work together, we won’t achieve the goals that we have set out. I don’t want politics to get in the way of good ideas.

And third: The private sector should drive solutions. Businesses across Big Sky Country are on the cutting edge of innovation. From alternative energy, to the medical industry, to groundbreaking technologies, great things are happening in the Treasure State. The public sector has a role in creating incentives and supporting education and infrastructure. But the best ideas come from our economy’s greatest asset, the American entrepreneur. Those are the ideas that will help us to create those good-paying jobs here in Montana.

Over the next 2 days, we’ll all see dozens of examples of why Butte and Montana are ideal settings for a conference on innovation and entrepreneurship. In opening this conference, I want to emphasize how much the work of the people in this room rests on the deep bedrock of Montana history.

There’s a statue on the street as you enter this campus of a man named Marcus Daly. Daly came to America from Ireland in 1856. He was penniless, alone, and 15 years old. He dreamed of a career in mining. And in 1876, he ended up in Butte.

In that era, they mined silver. And Daly owned a silver mine called the Anaconda, just over on the other side of town. The Anaconda turned a nice profit. But it was not different from a dozen other properties on the hill.

One day in 1882, some of Daly’s men came up from the Anaconda to tell him that they had encountered what they called “new material.” Daly was a hands-on guy. And he and his foreman, Mike Carroll, went down to take a look. They watched as the men set the dynamite and lit the fuses. Then everyone took cover as the blast ripped the quartz wall.

After the smoke had cleared, Daly walked through the debris and picked up a piece of the loose rock. He knew it was a seminal moment. He turned to his foreman and said, “Mike, we’ve got it.” [Hold up piece of quartz.]

What Daly held in his hand was copper. And it was copper that built Butte — and then the state of Montana — around it. The techniques used to mine and smelt copper in Butte and Anaconda were state-of-the-art for their day. This area was the most important industrial center in the Rockies. But equally important was the degree to which Montana’s innovations made other technologies feasible.

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Only a few years before Daly’s discovery, at the 1876 Centennial Exhibition, Alexander Graham Bell had demonstrated the first telephone. And only 2 years before Daly’s discovery, Thomas Edison had received a patent for the light bulb. The nation was on the cusp of a great technological leap into an electric future. And it was the copper mined from beneath our feet that made it all possible.

Montana, its people, and our resources are positioned to play an equally important role in the 21st century. During the next 2 days, we will hear from business and economic leaders how Montana can maximize its potential. We have a top-tier group of keynote speakers.

This conference is designed with an emphasis on the entrepreneur, the Marcus Dalys and Dennis Washingtons of the future. We have breakout sessions and activities that are relevant to businesses of all sizes and to many industries. We have workshops ranging from business plan preparation to selling your goods overseas.

We will also take a look at some of Montana’s current challenges. Panel discussions will explore how Montanans are addressing workforce issues, brownfields redevelopment, and affordable housing.

We will hear how Montana views the world, and how the world views Montana. We are lucky to have with us six ambassadors from some of the world’s most dynamic economies. We know what the Big Sky state looks like from here. Today, we will hear what Montana looks like from the perspectives of China, Korea, Bahrain, Panama, Indonesia, and Chile.

We’ll also hear how successful Montanans see the world. We’ll hear how they embraced international commerce, and prospered. For those who want to follow in their footsteps, we’ll offer hands-on seminars that teach the basics of exporting. Our aim in all of this is to position Montana for greater global success.

Other breakout sessions will address developments in specific industry sectors, such as energy, biosciences, aerospace, and the film industry.

And I want to encourage all of you to participate in our Business Networking Expo. We’ve invited businesses from around the country to come to Butte. The goal is to expand Montana business ties. And that is another way that we can help to create good-paying jobs here in Montana. The Expo will be happening in the Student Union Building this afternoon and tomorrow. Don’t miss the opportunity.

Montana’s economy has seen an unprecedented period of economic growth. Our unemployment rate is 2 percent. That’s well below the national rate of 4.4 percent. Wages are growing rapidly. But so are energy, health care, and housing prices.

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The question that we face today is: How do we keep job growth and wage growth going? The answer lies with all of you. Montana has the resources to create economic progress for the long term. 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.

So let us create hundreds of new Horatio Alger stories of achieving the American dream. Let us follow Denny Washington’s example of fostering the brightest future. And let us repeat Marcus Daly’s feat of positioning Montana to play a pivotal role in the nation and the world.