As the state’s economy recovers from pandemic-related disruptions, Oregonians are witnessing the importance of the domestic manufacturing sector. From the development and production of COVID vaccines to the consequences of supply-chain disruptions and the resulting push to “reshore” manufacturing capacity, the sector is at the center of many discussions.
Oregon Business & Industry (OBI) has used this moment to evaluate the state of manufacturing in Oregon, including the opportunities and challenges the sector faces. To that end, OBI’s Education and Research Foundation partnered with the Oregon Business Council to engage ECONorthwest to produce a report.
The report highlights Oregon’s emergence over the past few decades as a manufacturing leader poised to capitalize on post-pandemic policies and investments. Manufacturing now contributes $33 billion annually to Oregon’s GDP and employs more than 214,000 people. If manufacturing grew by just 10%, the sector would create 66,000 more jobs and generate an additional $800 million in tax revenue for state and local governments. For Oregon manufacturers to take advantage of the opportunities that now exist, however, state and regional governments will need to revisit tax, regulatory and investment policies.
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 its presentation.