Oregon is one of the most trade dependent states in the nation, and to some extent, economic activity in other countries helps drive the state’s economy. The value of exports from Oregon to foreign countries was $23.5 billion in 2019.
What is the main economy of Oregon?
Tourism. Tourism is one of the leading industries in this state, which is centered on Oregon’s natural features, including lakes, beaches, rivers, mountains, waterfalls, and forests.
What industries is Oregon’s economy based on?
Oregon’s traditional natural resource base is the platform for industry clusters in forestry and wood products, agriculture, nursery products, and food processing. Oregon’s tourism and hospitality industry is also bolstered by our great scenic endowment, outdoor recreation and culinary landscape.
What is Oregon’s largest industry?
In Oregon, computer and electronic product manufacturing is the largest industry, accounting for 6.3% of the state’s total GDP of $253.6 billion. The industry’s annual economic output totals $16.1 billion, a 15.5% increase over the last five years.
Where does Oregon rank in economy?
41st
Economic Outlook Rank
Oregon is currently ranked 41st in the United States for its economic outlook.
Does Oregon have a strong economy?
The Gross Domestic Product (GDP) of Oregon in 2021 was $270.12 billion; it is United States’ 25th wealthiest state by GDP. The state’s per capita personal income in 2021 was $59,484. As of November 2021, the state’s unemployment rate is 4.2%. Oregon ranks 37th in the nation for unemployment.
Is Oregon a poor state?
In 2018, after eight years of uninterrupted economic growth, Oregon’s poverty rate stood at 13 percent, meaning that more than one in 10 Oregonians met the official definition of poverty and likely lacked one or more basic needs. [3] This represents more than 516,000 Oregonians, including 134,000 children.
What makes Oregon the most money?
The personal income tax is the largest source of state tax revenue, expected to account for 86% of the state’s General Fund for the 2019–21 biennium. Oregon’s taxable income is closely connected to federal taxable income. The state personal income tax rates range from 4.75% to 9.9% of taxable income.
What is Portland’s biggest industry?
Greater Portland’s Top Industries
- Apparel & Outdoor. Greater Portland is the world’s epicenter for apparel & outdoor.
- Bioscience.
- Climate Tech.
- Computers & Electronics.
- Design & Media.
- Food & Beverage.
- Metals & Machinery.
- Software.
How does Oregon make money?
General Fund dollars come almost entirely from income taxes paid by individual Oregonians and Oregon businesses. The General Fund is also the most discretionary source of funds that the Governor and Legislature may spend. Other Funds are the largest single category of revenues the state receives for the state budget.
Who is the largest employer in Oregon?
Intel
Major Employers Ranked by Employment
| Number | Name | Regional Employees |
|---|---|---|
| 1 | Intel | 22,000 |
| 2 | Providence Health & Services | 21,000 |
| 3 | Oregon Health & Science University | 18,048 |
| 4 | Nike | 13,964 |
What is Oregon’s main export?
computer & electronic products
The state’s largest manufacturing export category is computer & electronic products, which accounted for $7.5 billion of Oregon’s total goods exports in 2018.
What does Oregon contribute to the US?
Oregon Economic Contribution and Impact Research
In 2020, Oregon generated around $5.0 billion in agricultural cash receipts with the highest valued commodities being miscellaneous crops, cattle and calves, and dairy products, specifically milk.
Which state has the strongest economy?
Washington topped the list of best state economies, ranking third on economic activity, seventh on economic health, and second on innovation potential. Utah and California rounded out the top three state economies.
Who has the best economy?
- Germany. #1 in Economically stable. #3 in Best Countries Overall.
- Canada. #2 in Economically stable.
- Switzerland. #3 in Economically stable.
- Australia. #4 in Economically stable.
- Japan. #5 in Economically stable.
- Sweden. #6 in Economically stable.
- Norway. #7 in Economically stable.
- Netherlands. #8 in Economically stable.
Which state has largest economy?
California
The gross domestic product (GDP) of California was about 3.36 trillion U.S. dollars in 2021, meaning that it contributed the most out of any state to the country’s GDP in that year.
What is Oregon famous for?
In addition to its natural beauty, Oregon is equally known for its urban charms. The state’s largest city, Portland, has an international reputation for drawing tourists with an offbeat and welcoming culture. The city’s sightseeing gems range from rose gardens to art museums and an immense bookshop.
Is Oregon a healthy state?
Oregon often has a reputation of being a healthy state, with an abundance of opportunities for outdoor activities.
Why is Oregon the best state?
Beautiful scenery, amazing food, and adventures galore; Oregon is absolutely incredible for so many unique reasons. From natural wonders to charming small towns, here are 15 undeniable reasons Oregon is the best state. 15. There are hundreds of majestic waterfalls to explore.
What is America’s poorest state?
Mississippi
Mississippi. Mississippi is the poorest U.S. state, with 18.8% of its residents living in poverty. The state also has the highest child poverty rate, with 27.9% of its under-18 population meeting federal poverty guidelines. Fifteen percent of residents are food insecure.
Is Oregon expensive to live in?
Oregon is one of the most expensive states to live in. In fact, as of July 2021, Oregon was ranked the 5th most expensive state to live in, with a cost of living 31.43% higher than the national average.