Malmstrom AFB is an American Airforce Base located in Great Falls, Montana. It was named after a POW Colonel in the Second World War. It is considered a census-designated place and it operated the 341st Missile Wing and the Minuteman III Intercontinental ballistic missile. The base was built in 1941 and has continued to operate since that time uninterrupted. The base was originally called the Great Falls Army Air Base but changed in 1955 to the name it uses today. Colonel Einar Axel Malmstrom was shot down in Germany and died some years later during a training mission near this base. In honor of this death the people opted to change the name. In total there are 4,544 residents living on the base which includes the military members and their families. The average median income in the area is $31,000.