Phil Barnhart
Oregon is finally acting like Oregon in a recovery.
Because our economy is more weighted toward manufacturing than the average state, recessions hit us harder, and when the recovery comes, we recover faster.
We have the seventh fastest job growth in the nation, according to Oregon’s State Economist Tom Potowski, and unemployment is lower now than at any time since the end of 2008. The rise in jobs is across all sectors of the economy except financial services and government.
Government services also tend to lag behind recessions and boom cycles, which is why we will continue to see cuts to schools and services seniors rely on, even though businesses are finally getting back on their feet. The construction and trade sectors have experienced particularly strong returns.
House Bill 2001, dubbed the Jobs and Transportation Act of 2009, has done its part to assist the recovery. The measure successfully added jobs in construction and transportation, making Oregon a better place to live and do business.
In other good news, the Council on State Taxation (COST) released a report last month naming Oregon second only to Maryland in business tax competitiveness.
Our corporate income apportionment formula and our lack of most franchise taxes on business receipts and taxes on business purchases make Oregon an extremely attractive place to do business as recent business growth shows. We have heard doom and gloom from those who must pay the small increases in corporate taxes from Measure 67 or the newly enforced employment tax.
Businesses that predicated moves or closure are instead expanding in Lane and Linn Counties and hiring more workers.
Does this mean we will have clear sailing from here? No. The hole we have to climb out of is very deep and we will need at least a couple more years to return to the employment level we had at the top of 2007.
But it is wonderful to be moving in the right direction and to actually see the improvement.
If you are out of work, the recession grinds on for you. However, your odds of finding work in the near future are at last improving. Stay tuned.
Rep. Phil Barnhart, D-Eugene, represents the 11th House District, which includes the Crawfordsville area. Contact him at (503) 986-1411 or by e-mail at [email protected].