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%.
Economy of Oregon.
| Statistics | |
|---|---|
| Expenses | $5,889 million |
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 main source of income?
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.
What was the main economic activity in Oregon?
Economy of Oregon. Traditionally, Oregon had a resource-oriented economy, strongly dependent upon its forests and farms. Through diversification, however, various new industries have been established, and tourism, recreation, and trade and service activities have grown.
Where does Oregon rank in economy?
41st
Economic Outlook Rank
Oregon is currently ranked 41st in the United States for its economic outlook.
What is Portland’s biggest industry?
Manufacturing. Portland is a national leader in specialized areas of manufacturing. Products include high tech electronics and specialty metal fabrication. Notably, Boeing has it largest machining shop within the entire company located in Gresham.
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.
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 the largest industry in Oregon?
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.
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.
What is Oregon the biggest producer of?
Oregon’s top-10 valued commodities by value for the 2020 crop year are:
- Greenhouse and nursery, $1,188,911,000.
- Cattle and calves, $587,848,000.
- Hay, $569,160,000.
- Milk, $557,348,000.
- Grass seed, $458,367,000.
- Wheat, $273,760,000.
- Potatoes, $216,810,000.
- Grapes for wine, $157,900,000.
What is the biggest export from Oregon?
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 resource is Oregon known for?
Oregon is known as a national leader in protecting its environment and for fostering a special relationship between its people and its places –natural resources also are key to Oregon’s economy. Agriculture, forestry and wood products are Oregon’s leading industries after high-tech manufacturing.
What 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. At the bottom of the list were Louisiana, Alaska, and West Virginia.
Which state has the fastest growing economy?
Here are the states with the fastest-growing economies.
- Tennessee. Updated Jun 4, 2022.
- Utah. Updated Jun 4, 2022.
- Indiana. Updated Jun 4, 2022.
- South Carolina. Updated Jun 4, 2022.
- Arkansas. Updated Jun 4, 2022.
- New Hampshire. Updated Jun 4, 2022.
- Kentucky. Updated Jun 4, 2022.
- Maine. Updated Jun 4, 2022.
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 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.
What is unique to Oregon?
Oregon has more ghost towns than any other state. The Columbia River gorge is considered by many to be the best place in the world for windsurfing. Crater Lake is the deepest lake in the United States and is formed in the remains of an ancient volcano. Douglas Fir is the official state tree of Oregon.
How is Portland job market?
Job Growth
As of March 2018 Portland’s unemployment rate was 4.1%. This is an exceptionally low rate, and hasn’t been seen since the mid-1970s. This is in large part due to the growing job market in Portland. Since the 2009 recession Portland has created 207000 jobs.
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.
What’s the poorest city in Oregon?
One of the highest poverty counts is in rural Josephine County, in the Cave Junction area. Another is located in Redmond, in Deschutes County. High Poverty areas can happen in any part of the state, regardless of overall economic conditions.