If you’re interested in where the economic development dollars in Oregon are being focused, there’s a new five year strategic plan from Business Oregon that sheds some light on those activities. Thumbing through it quickly, it looks to be good news for startups in the state.
No organization is more committed to furthering economic development across Oregon than Business Oregon. As the state’s economic development agency, we are in a unique position to impact positive change, address economic inequities, and strengthen existing competitive advantages. The 2018-2022 Business Oregon Strategic Plan maps out a course of action for the agency that targets economic opportunity and growth.
Informed by robust customer, stakeholder, and partner insights, along with comprehensive economic analysis, the plan identifies five priorities for Business Oregon. These priorities focus on elevating state investment in innovation, growing Oregon’s small- and medium-sized businesses, stabilizing our rural economies, promoting shared economic prosperity, and continuing the agency’s operational excellence. Through this plan, Business Oregon is positioned to enhance its leadership role in determining state economic development investments and outcomes.
And entrepreneurs and startups are an important part of that focus:
Compared to other states, Oregon has a higher than average rate of new business starts and is above average in venture capital investments as a percentage of GDP. While business startup rates have declined in the U.S. and in Oregon, and venture capital investments are down in recent years, Oregon still maintains a competitive entrepreneurial environment that should be developed and targeted for economic development investments.