Historic economy Built as a railroad hub, Great Falls initially relied heavily on ore smelting in its early years.
Black Eagle Dam, opened in 1890, was the first hydroelectric dam built in Montana and the first built on the Missouri River. The energy industry helped give the city of Great Falls the nickname "The Electric City". The same year, the
Boston and Montana Consolidated Copper and Silver Mining Company broke ground on a large smelter in the city, drawn to the location by the power provided by the dam. Elements came online over the next few years, with the final works—an
electrolytic refinery and
blast furnaces—completed in February and April 1893. By 1892, more than 1,000 workers were employed at the smelter. Energy production received a boost with the discovery of petroleum about north of the city in the late 1910s. Great Falls boasted two oil refineries by 1920, although a devastating fire left the city with just one after 1929. Great Falls suffered its first major economic crisis in 1893. Banks and industry in the city were severely undercapitalized, and the
Panic of 1893 cut off access to money in the east. The price of
silver collapsed and nearby mines closed. Markets for beef, mutton, and wool largely disappeared, leaving area ranchers destitute. A large number of businesses in Great Falls shut their doors. The city was largely saved by the smelter, which continued to employ about 900 workers from 1895 to 1900. A North Montana Agricultural Society was formed to bring improvements in the practice of cattle ranching and wheat farming, and to lobby for federal- and state-funded irrigation projects. An attempt to win state legislative approval for an official state fair to be located at Great Falls failed in 1894, but organizers were successful in holding the first Cascade County Fair in May 1895. The city became even more prominent as an agricultural products center. Wheat production began to soar in Montana during the 1906-1907 growing season, and by 1920 there were 11 railroad spur lines radiating from the city to collect the grain from local farmers. The city's easy access to inexpensive electrical power made it ideal for grain milling and meat refrigeration, and enabled Great Falls to become a major center for farmers and ranchers. The Royal Milling Company was founded in Great Falls in 1892, and within seven years was making half the flour in the state. It tripled its capacity to per day in 1917, then in 1928 merged with about 25 other mills nationwide to form
General Mills. Montana Flour Mills opened its Great Falls facility in 1916, and had a capacity of per day in 1920. Royal had a regional grain storage capacity in 1920 of more than , while Montana Flour's approached . Brewing became a major industry in the city, with the 1892 Montana Brewing Company (makers of Great Falls Select beer) leading the way. The city's close proximity to Montana's cattle-rich
Judith Basin also led to the development of a large
meat packing industry. Led by the Great Falls Meat Co., Needham Packing Company, Stafford Meat Co., Valley Meat Market, and other slaughterhouses, Great Falls was the largest meat packing center between
Spokane, Washington, and
Minneapolis, Minnesota, by the 1930s. The city's population boomed, reaching 30,000 by 1913. The 145-bed Columbus Hospital (a
Catholic Church-owned facility) opened in 1892 and the 330-bed Montana Deaconess Medical Center (originally a
Methodist Episcopal Church facility) opened in 1898, making the city a destination for those with serious healthcare needs for central Montana. During the 1910s, Great Falls became known as a regional banking city, with three national- and three state-chartered banks (although just two national and one state bank would survive the
Great Depression). Large regional deposits of clay, coal, gypsum, limestone, and sandstone led to the emergence of large brick works, cement works, plaster works, and stone cutting facilities in the town. A major
drought hit the counties north of the Missouri River in 1917, and spread to the rest of the state in 1918. Massive swarms of
locusts struck the state in 1919, and in 1920 strong, steady winds
eroded the
topsoil, damaging the productivity of the soil and creating a "dust bowl" effect. Montana farmers were therefore largely unable to take advantage of the high price of wheat and other agricultural products created by wartime demand and the loss of agricultural output in Europe caused by World War I. The drought did not end: Just six of the 13 years from 1917 to 1930 saw average or above-average precipitation in the state. As agricultural production in Europe recovered after 1920, war-inflated agricultural prices collapsed. The high costs associated with the Great Falls-area underground coal mines led to the collapse of this local industry in the 1920s as well, devastating Great Falls coal dealers and shippers. Although the
post–World War I recession lifted nationally by 1922, the economy of Great Falls and the rest of the state remained mired in depression until the mid-1920s. The city's economy stagnated during the
Great Depression. The price of copper fell by nearly 75 percent to just 5 cents a pound between 1929 and 1933. Anaconda cut production in the state by 75 percent and closed its plant in Great Falls, throwing hundreds out of work. Agricultural prices, too, collapsed. Half of the state's farmers lost their land to
foreclosure, and 60,000 of the 80,000 homesteaders who had arrived between 1900 and 1917 left the state. By the time the Great Depression ended in 1940, 11,000 farms (20 percent of the state's total) had been abandoned and of farmland had gone out of cultivation. Even as the national population grew by 16 percent between 1930 and 1940, Montana's population declined. Great Falls was one of the rare places in Montana which saw population growth. The city grew from 28,822 residents in 1930 to 29,928 residents in 1940. World War II saw the establishment of East Base (now Malmstrom Air Force Base) in Great Falls in 1941, which proved to be a turning point economically. The war not only created a huge demand for the agricultural products and metal products provided by the city but also fueled significant population growth in Great Falls. The base brought 4,000 new residents to the city; by 1943, the city's population had shot up by about 5,600 to 35,000. These new residents created a huge demand for goods and services, and a large number of new businesses sprang up to supply the base with its needs. The rapid population growth created a housing construction boom in Great Falls. The federal government paid for the construction of 300 new single-family homes during the war, although this was nowhere near the amount of new housing needed. East Base created a fundamental cultural and social shift in the city, one which became more pronounced over time as active-duty personnel stayed in the city after retirement. The war also saw a major improvement to the Great Falls Municipal Airport. The 1928 facility received its first air traffic control tower in 1942, paid for by the federal government after the vast increase in flights over the city after the construction of the new air base. By 1950, Great Falls was Montana's largest city, having added 33 percent more residents during the 1940s. Much of the city's growth was due to rising federal investment in defense and healthcare, and it was an important regional convention, trade, and medical center. In 1951, Anaconda consolidated its statewide zinc production in Great Falls, adding substantial numbers of new workers, and in 1955 opened an aluminum smelter in the city. The O.S. Warden Bridge opened in 1951. Designed to turn a then-mostly undeveloped 10th Avenue S. into a straight-line
bypass through the city, Extraordinary increases in traffic on 10th Avenue S. led the state to transform the two-lane street in 1956 into an wide four-lane highway with a central median. Previously an undeveloped area with only the occasional residence, the 1956 changes to 10th Avenue S. turned the highway into a vibrant business district. Construction of the new campus of the
College of Great Falls began on 10th Avenue S. in 1959, and the new
Deaconess Hospital in 1963. 10th Avenue S. received its first traffic signals in 1964. Great Falls' reputation as a retail hub for central Montana emerged in the 1960s. The
Holiday Village Mall opened as an open-air shopping center in 1959, and by 1969 had expanded to become a modern enclosed
shopping mall. Westgate Mall opened in 1965, Agri-Village Warehouse (later Agri-Village Shopping Center) in 1967, and Evergreen Mall in 1983. The city was one of Montana's most important agricultural equipment sales and distribution hubs, and the Great Falls Livestock Commission Company (established in 1936) had become an important multistate livestock auction center. In the 1960s, Great Falls' economic future appeared bright. The city's population reached 55,357 in 1960, an 85 percent increase since 1940. It was one of the fastest-growing cities in the nation. Including the adjacent unincorporated town of
Black Eagle, Malmstrom Air Force Base personnel, and certain minor adjacent residential blocks, the population was estimated to be more than 72,000 by 1964. The largest city in Montana in 1965, state planning agencies believed Great Falls would have a population of 100,000 by 1981. The economy of Great Falls began a significant diminution in the 1970s. The nation of
Chile nationalized Anaconda Copper's extensive, lucrative copper mines in 1971, causing the company to suffer massive financial losses. It closed its Great Falls zinc operation in 1971, and the rest of the smelter in 1980. About 1,450 high-wage Anaconda employees lost their jobs during the decade. Changes in the defense posture of the United States led to significant cutbacks at Malmstrom Air Force Base as well. These included the loss of 476 airmen and officers in 1972, 30 airmen in 1974, 1,015 airmen and officers in 1979, 100 airmen in 1981, 30 airmen in 1982, and 360 airmen and officers in 1983. The job losses stripped $18.2 million from the local economy in 1985 alone. The base lost another 1,017 jobs between 1992 and 1996.
Current economy Since the
Great Recession of 2008–2010, the Great Falls economy proved sluggish, growing at an annual rate of 0.9 percent, compared to a statewide average of 1.8 percent and a national rate of 2.0 percent. Growth was strongest in construction and manufacturing, followed by back-office business services (such as
Blue Cross Blue Shield of Montana's new insurance claims processing center), healthcare (such as the opening of the Great Falls Clinic Hospital), retail sales, social welfare (such as the opening of the Cameron Family Center, which houses 26 homeless families), and tourism. The city's lack of population growth, coupled with low commodity prices for agricultural producers, has significantly hindered growth in the city for two decades. The lack of growth worsened poverty in the city. There were no neighborhoods of concentrated poverty in the city in 2010, but by 2016 1,254 city residents lived in such areas. The number of Great Falls residents living in poverty during the same period rose by 10.37 percent (1,100 people), and
Cargill all took space in the park by the end of 2018.
Military Great Falls is home to
Malmstrom Air Force Base and the
341st Missile Wing. The 341st Operations Group provides the forces to launch, monitor and secure the wing's
Intercontinental ballistic missile (ICBM) and missile alert facilities (MAF). These ICBMs and MAFs are dispersed over the largest missile complex in the
Western Hemisphere, an area encompassing some (approximately the size of the state of
West Virginia). The group manages a variety of equipment, facilities, and vehicles worth more than $5 billion. Also at Malmstrom are the
819th RED HORSE Squadron (reactivated August 8, 1997) and the 219th RED HORSE Squadron
Montana Air National Guard. Both units are rapid deployment units, and are the first "associate" RED HORSE squadrons in the Air Force, staffed by approximately two-thirds active-duty military and one-third Air National Guard personnel.
Great Falls International Airport is home to multiple military units, including the Montana
Air National Guard's
120th Airlift Wing, which is composed of
C-130H cargo aircraft and associated support personnel. Two
U.S. Army Reserve units, the 364th Sustainment Command (Expeditionary) and the 889th Quartermaster Company also call the airport home. ==Arts and culture==