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Business Oregon Creates $250,000 Loan Program

Tuesday, August 11, 2015

 

Oregon’s state economic development agency, Business Oregon, is creating a $250,000 loan program. The program is designed to help increase revenue and jobs within Oregon, a state known for its national manufacturing contributions.

"We're a state that still makes things and ships them around the world." said Sean Robbins, Business Oregon's director. "From semiconductors to wood products to ocean going ships, Oregon's middle class is fueled by manufacturing." 

Currently, 75 percent of Oregon’s 5,200 manufacturers possess 20 or fewer employees. Oregon is answering this concern by employing the Small Manufacturing Business Expansion Program, which aims to fill the gap for 6 to 12 companies.

"Manufacturing is a cornerstone of Oregon's economy and delivers family wage jobs around the state," said Governor Kate Brown. "We must make sure our small manufacturers have the tools to compete globally so they continue to thrive and grow. This program will provide these tools to some who traditionally wouldn't have access." 

 

Related Slideshow: Slideshow: Oregon Receives Average Ranking for Business Climate

The state of Oregon is neither the best nor worst state to run a company, according to data pulled from nationwide business publications and testimonies from Oregon business owners.

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Thumbtack/Kauffman

Oregon receives a C+ grade for its overall friendliness to small businesses, according to a new survey conducted by Thumbtack.com and the Kauffman Foundation.

The study, drawing upon over 12,000 pieces of data, provides new insights about the nation’s business climate using a state by state approach. Click here to read the full article.

Photo Credit: GoLocalProv.com

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CNBC

Top States for Business 2014

Oregon Ranking: 22

The survey notes Oregon’s “idyllic quality of life [and] healthy economy” but also its “struggling education system and high cost of living.” Read more here.

By Jim.henderson (Own work) [CC0], via Wikimedia Commons

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Forbes

Best States for Business and Careers

Oregon Ranking: 19

Over the past 5 years, Oregon's economy has grown steadily, up 2.8% annually, which is the second best growth in the U.S. The state’s outlook is just as strong, with a forecasted 3.2% expansion per year. Read more here.

Photo Credit: Jim Larrison via Compfight cc

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Chief Executive

Best States for Doing Business 

Oregon Ranking: 38

Notable Quote: “Oregon is going to kill the small business owner’s incentives to remain in the state if the 13.6% maximum state income tax passes in November of 2014. Many of the successful small business owners will relocate to Washington state (0% income tax) or other states.” Read more here.

Photo Credit: GoLocalProv.com

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Tax Foundation

Tax Climate

Oregon Ranking: 12

High income and corporate tax rates are balanced out by low sales and property tax figures, putting Oregon in the #12 spot according to the Tax Foundation’s State Business Tax Climate Index system. 

"The Tax Foundation’s 2014 edition of the State Business Tax Climate Index enables business leaders, government policymakers, and taxpayers to gauge how their states’ tax systems compare." Read more here.

Photo Credit: GoLocalProv.com

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WalletHub

Best States to be a Taxpayer

WalletHub analyzed how state and local tax rates compare to the national median in all 50 years.  . Eight different types of taxation were compared to determine the following:  

"1) Which states have the highest and lowest tax rates; 2) how those rates compare to the national median; 3) which states offer the best tax rates when adjusted by the cost-of-living index."

Oregon Rank: 40

0% sales tax and the nation’s lowest alcohol tax are overcome by high income and gasoline taxes. Read more here.

Photo Credit: GoLocalProv.com

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ALEC

Economic Outlook for 2014

Oregon Ranking: 42

The 2014 economic outlook ranking helps determine how each state can expect to perform economically based on 15 policy areas that are proven determinants of economic success. Read more here.

Photo Credit: GoLocalProv.com

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US Chamber of Commerce Fo

This report goes state by state, addressing individual topics like Business Climate, Innovation and Entrepreneurship, Infrastructure, and Talent Pipeline.

Oregon receives an above average ranking, including a top-spot ranking in Productivity Growth, which indicates a state's shift toward higher-value jobs and industries. Read more here.

Photo Credit: GoLocalProv.com

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PEW Charitable Trusts

Oregon is among ten states to have the highest growth rates, according to Moody’s analytics.

Fast Job Growth Outlook Ranking: 7th

Job outlook is particularly strong out West, including Oregon. Categories like steady home construction, increasing levels of investment in high tech and the aerospace industry, and trade with Asia all are strong contributors to the positive forecast. Read more here.

Photo Credit: GoLocalProv.com

 
 

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