A Strategic Plan for Oregon’s Economy
Seven Pillars That Will Grow More Jobs and Higher Incomes
Our passion for increasing Oregon jobs and incomes is well documented. But what is the strategic plan for our economy that will help achieve our goal of 20,000 new jobs per year and raising Oregon incomes to the national average by 2020?
Sure, there are specific issues we’ve identified since we began the Oregon Prosperity Project last year that can help achieve these goals, but a well-rounded public policy strategy – a prosperity business plan, if you will – is missing in our state’s discourse.
Let’s start with these seven principles to grow Oregon’s economy.
Parlay our natural resources and historically competitive industries into job-creating opportunities.
Expanding our sustainable timber harvest from state forests and withdrawing our share of Columbia River water would be a good start here.
Support Oregon companies in their development efforts to reach an expanding global marketplace.
Renewing our country’s free trade agreement with South Korea late last year was critical for thousands of Oregon jobs.
Create an environment in which existing Oregon companies can become more productive and innovative and create an environment in which new Oregon companies can emerge and grow.
The Oregon Prosperity project was a leading advocate for key incentives to help Oregon companies put new job-creating capital into use as well as a competitive R&D tax credit.
Effective collaboration between private sector, state government and academia to ensure that more new ideas developed by companies and in research labs scale up into industries.
This is something our state does pretty well through the Oregon Innovation Council (Oregon InC), the Oregon Nanoscience and Microtechnologies Institute (ONAMI), and the Oregon Translational Research and Drug Development Institute (OTRADI)
Promote education, workforce development and entrepreneurial mentoring.
Governor Kitzhaber and the Oregon legislature worked together to produce landmark education reforms over the past year. Also, over 150 Oregon kids just attended this summer’s Young Entrepreneurs Business Week.
Maintain affordable cost of living for middle class employees.
Clean up the DURT (delays, uncertainty, regulation, taxes). Modernize government and fix deficiencies in our tax code and regulatory scheme that inhibit private sector investment and entrepreneurial activity.
Much of our time and attention has been focused here with everything from removing the uncertainty for data centers wanting to locate in Oregon to reforming our state’s tax code which kills long term, job-creating investment in our state.