The state of the manufacturing sector and vocational training are two major topics in updating the business plan
Oregon’s businesses, community and elected leaders will come together to discuss the state’s economic challenges and opportunities on Monday, December 6.
Oregon’s annual Business Plan Leadership Summit will take place both in person at the Oregon Convention Center and remotely due to the ongoing COVID-19 pandemic. It is hosted by the Oregon Non-Partisan Business Council in partnership with other professional organizations, including the Oregon Business and Industry Advocacy Organization.
“We are at an inflection point and can take action that will translate into years of steady growth,” said Chairman Duncan Wyse. “This year’s summit will focus on manufacturing opportunities and the need to train the workforce for the jobs that will become available over the next decade.”
Scheduled attendees include Pat Gelsinger, CEO of Intel, Ron Wyden and Jeff Merkley, Oregon US Sens. Oregon Latinx Families and Farm Workers.
The goal is to discuss and agree on an updated statewide plan to continue Oregon’s recovery from the pandemic and move towards greater future economic growth. Specific questions for discussion include how federal pandemic stimulus funds can boost the state and the need for training for workers whose jobs are being cut by economic changes.
According to a report to be presented at the summit, the state’s manufacturing sector should benefit from federal legislation such as the Infrastructure Investment and Jobs Act signed by President Joe Biden on November 15 and the Build Back Better Act approved by the United States House of Representatives and pending before the United States Senate. Merkley and Wyden will be interviewed about these and other Congress priorities.
“The Condition of Oregon’s Manufacturing Report” was prepared by the economic consultancy firm ECONorthwest for the summit. It found that the manufacturing sector contributes $ 23 billion a year to the state’s gross domestic product and employs 214,000 Oregonians, a higher share of which are Blacks, Aboriginals and people of color than other sectors. The report also found that full-time workers in manufacturing earn 17% more than other workers. A mere 10% increase in manufacturing output would support an additional 66,000 jobs and generate $ 800 million more in annual revenues for states and the federal government.
Oregon tech companies like Intel should also benefit from US innovation and competition law. It would provide $ 52 billion in incentives for national computer chip research, development and manufacture. Pat Gelsinger, CEO of Intel, will deliver the keynote address.
However, Wyse said some obstacles exist in taking full advantage of these opportunities. These include a shortage of industrial land ready for development, a lack of skilled workers and an increase in state and local taxes on businesses.
“We believe the best source of government revenue is a strong, healthy economy. Taxes increase costs and hurt competitiveness,” Wyse said.
According to its website, the Oregon Business Plan was launched in 2002 as an ongoing collaborative effort between the state’s business community, elected leaders and other key stakeholders to achieve a increased economic growth and prosperity in all parts of Oregon. It has four long-term objectives: to create 25,000 net new jobs per year; increase per capita income above the national average; reduce the percentage of Oregonians living in poverty to less than 10%; and increase economic mobility and shared prosperity across Oregon’s diverse communities and geography.
Each version of the plan has been presented and discussed at annual summits. Priorities include improving graduation rates and attracting high-paying jobs that don’t require college degrees. The process continued through recessions and recoveries, and was forced into a series of online conversions on recovering from the pandemic in 2020.
Oregon Business Plan Leadership Summit
Where: Oregon Convention Center
When: Monday December 6, 8:30 a.m. to 1:30 p.m.
You depend on us to stay informed and we depend on you to fund our efforts. Good local journalism takes time and money. Please support us to protect the future of community journalism.