After facing significant challenges during the pandemic, Oregon is experiencing a remarkable resurgence in business growth, outpacing all other states in the nation. A new study conducted by DesignRush reveals that between September 2022 and 2023, Oregon saw a 9.9% increase in new businesses, translating to a net gain of 18,273 enterprises.
The study, which utilized data from the Bureau of Labor Statistics, highlights the state’s ability to rebound from the economic turmoil caused by COVID-19. Monique Claiborne, President and CEO of Greater Portland Inc., emphasized that traded-sector businesses—those that sell goods or services outside their local area—are a significant contributor to this growth. These businesses bring fresh dollars into the region, bolstering the local economy.
The study’s findings reflect a broader trend of recovery and expansion across various sectors within the state. In particular, industries such as technology, healthcare, and sustainable practices have seen substantial growth, attracting both new entrepreneurs and established companies eager to expand their operations.
Cara Turano, President and Executive Director of the Oregon Entrepreneurs Network, echoed Claiborne’s sentiments, noting that the current business growth rates have surpassed those seen before the pandemic.
Local entrepreneurs have also expressed optimism about the future, highlighting the collaborative atmosphere and resources available in the state. Many have taken advantage of various programs and initiatives aimed at supporting business development, contributing to the overall economic recovery.
As Oregon continues to lead the nation in business growth, city officials and economic development organizations are working to ensure that the momentum is sustained. Efforts to attract investment, enhance infrastructure, and maintain supportive policies will be crucial in fostering an environment where businesses can flourish.
The resurgence of Oregon’s business sector serves as a testament to the resilience of its entrepreneurs and the strength of the community. With the state positioned as a leader in business growth, the future looks promising for both new and existing enterprises in the region.
