By Oregon Business and Industry
OBI Releases Report on State of Manufacturing in Oregon
As we begin to look toward a post-pandemic economy, everyday Oregonians are coming face to face with our domestic manufacturing sector like never before. From the development and manufacturing of COVID-19 vaccines to the current supply chain issues all industries are facing to the recent federal focus on and investment in domestic manufacturing, the manufacturing sector is facing a historic moment.
Oregon Business & Industry (OBI) seized on this unique moment to look deeper into the current state of manufacturing in Oregon and to evaluate both the opportunities and challenges the sector is facing. To do this, OBI’s Education and Research Foundation partnered with the Oregon Business Council to commission a report conducted by ECONorthwest on the state of manufacturing in Oregon.
The report shows how Oregon has evolved into a manufacturing growth leader over the past few decades and today faces a unique opportunity for growth amid a new era of policy and investment following the COVID-19 pandemic. For example, manufacturing contributes $33 Billion to Oregon’s GDP, employs more than 214,000 people, and the opportunities from growth in this diverse and innovative sector are enormous. With just a 10% growth in manufacturing, 66,000 more jobs would be created and provide $800 million more in resources for state and local governments. But the report also emphasizes that seizing these new opportunities will require focused statewide and regional strategies and reexamination of tax, regulatory and investment policies that both help and hinder the sector’s competitiveness.
OBI has shared the report’s findings with legislators and looks forward to working with decisionmakers and stakeholders throughout the state to ensure a strong and sustainable manufacturing industry in Oregon for years to come.
To learn more and read the report’s findings, click here. To view ECONorthwest’s key takeaways, check out their presentation.
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