From the Governor
“Our state is growing faster than at any point in Oregon history. With growth comes a lot of really good things. More jobs. More ideas. And hopefully, more opportunities.” —Gov. Kate Brown
Powered by Innovation
Oregon is climbing the ranks in the innovation economy and now ranks only behind California and Massachusetts, according to a recent report by Business Oregon. New levels of venture capital, an influx of talent from neighboring high-cost cities, and momentum are fueling new levels of innovation in the Portland region. Intel recently announced an expansion in Hillsboro that could add more than 1,750 new jobs, and Genentech is expanding a new office space with 300 new jobs Portland’s Lloyd District.
Oregon Investment Advantage: Offers up to a 10-year income tax holiday for companies setting up operations in an eligible county that create at least five new full-time jobs averaging 100% or more than the current county wage.
Small Manufacturing Business Expansion Program: Offers forgivable loans of up to $50,000 for small manfuacturing business expansion projects
Strategic Investment Program: Offers a 15-year property tax exemption on a portion of projects of at least $25 million in a rural area or $100 million in other areas.
Oregon Business Expansion Program: Offers a cash based incentive equivalent to the estimated increase in income tax revenue from new hiring. For companies that hire 50 or more full-time employees and already has at least 150 employees in the area.
Business Oregon: oregon4biz.com
Oregon Economic Development Association: oeda.biz/index.php
Prosper Portland: prosperportland.us
Strategic Economic Development Corporation: sedcor.com
Highlighted Program or Initiative
Greater Portland 2020 is a five-year action plan to achieve economic prosperity across the region by aligning business, education and civic leaders around regional economic priorities. The strategy focuses on driving growth with diversity, inclusion and equity to overcome the growing disparity of opportunities in the state.
- Wayfair announced in January 2019 it would open sales and service center and create 600 new jobs in Springfield.
- R/GA Ventures and several partners including Business Oregon, Moda, Umpqua Bank and Smith + Crown, announced in April 2019 the creation of the Oregon Enterprise Blockchain Venture Studio Portland.
- UK-based Edwards Vacuum opened in August 2019 a high-tech innovation and manufacturing center in Hillsboro with 100 new jobs.
- Diamond WTG Engineering & Services relocated its head- quarters from California to Portland in April 2019.
- Digital signage company 10net opened its first U.S. office in Portland in November 2018.
- Intel announced in February 2019 a new factory in Hillsboro that could create up to 1,750 jobs.
2 Fortune 500 companies headquartered in state:
Other large companies with operations in the state include:
Schinitzer Steel Industries
Daimler Trucks North America
“We are excited to expand our operations to Lane County as we grow our customer service team to support the incredible growth of our business.… The opening of our newest location in the state of Oregon will allow us to build upon our award-winning team as we benefit from the strong pool of talent in the region.” —Tom Svitil, Head of Sales and Service, Wayfair
“We are excited about opening our innovation center in Hillsboro.…Edwards is fully committed to the Northwest Region, creating jobs and participating in the local growth, as environmentally conscious corporate stewards in the neighborhood.” —Scott Balaguer, General Manager, Semiconductor Division North America