Resources

2018-2022 Strategic Plan

Insights Reports

Business Oregon's Five Year Strategic Plan

Planning Process

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Strategic planning enables an organization to establish goals, prioritize initiatives, measure progress, and carefully allocate limited time, resources, and attention. Business Oregon's Strategic Plan is the result of a year-long effort that identified the most pressing economic development challenges confronting the state of Oregon, then develop a plan that addresses the shifting economic landscape, changing demographics, and unique strengths of Oregon's industries, businesses, and entrepreneurs.

The full plan is available in the resource box on the right, as well as analysis that informed the report.

70+ in-person interviews
6 focus groups
281 completed surveys
4 advisory comm. meetings
2 staff surveys
4 staff town hall meetings

Business Oregon communicated with hundreds of stakeholders

Participants included state legislators and elected officials, local governments, tribal economic development leaders, heads of regional business development organizations, business CEOs, representatives of academic institutions, entrepreneurs, and Business Oregon staff.

 

Our Priorities

Priorities
Strategies
Metrics




Innovate Oregon's Economy
Details on this priority

Expand Oregon's research and development capacity

Increase access to capital for high-growth startups

Federal and corporate R&D funds leveraged our investment

Total amount invested and leveraged in Oregon small business and startups





Grow Small- and Middle-market Companies
Details on this priority

Increase access to new sales markets

Enhance competitiveness of small and middle-market manufacturing companies

Attract businesses and FDI to grow target industries

Prioritize infrastructure investments to directly promote business growth

Company sales resulting from market access programs (KPM 4)

Jobs created and retained resulting from business development activities (KPM 1 & 2), including accessible middle-wage and high-wage jobs





Cultivate Rural Economic Stability
Details on this priority

Enhance local economic development capacity in distressed rural communities

Promote an environment that supports entrepreneurship and small business growth

Expand business development to include non-traded sector companies and organizations

Connect rural communities to urban markets through targeted infrastructure investments

Jobs created and retained in rural Oregon resulting from business development activities, including accessible middle-wage and high-wage jobs

Percent of rural small businesses or start-ups receiving financial assistance from agency that transition to traditional or follow-on financing

Number and value of infrastructure investment related to economic development (KPM 9)





Advance Economic Opportunity for Underrepresented People
Details on this priority

Connect people of color, immigrant populations, and native/tribal communities to jobs

Foster wealth creation for underrepresented populations

Number and percent of minority-owned firms utilizing agency business development services (financial and technical assistance)

Number and percent of minority-owned firms receiving financial assistance that transition to traditional or follow-on financing

Number and value of public contracts awarded to COBID certified firms





Ensure an Inclusive, Transparent, and Fiscally Healthy Agency
Details on this priority

Be transparent, accountable, and a good steward of public resources

Be a sustainable, cohesive agency where all employees feel valued and understand how they contribute to the mission

Be a welcoming agency that empowers employees and is inclusive of Oregon's cultural diversity

External customer satisfaction survey score (KPM 10)

Employee engagement survey score

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Innovate Oregon's Economy

Innovation is a clear driver of economic competitiveness. It fuels the creation of new technologies, companies, and industries. It attracts talent, creates high-wage jobs, and ultimately drives growth. States that prioritize sustained investment in innovation and excel accross a broad range of indicators are better positioned to compete long-term in the global economy.

Historically, Oregon has excelled in key indicators of innovation, such as patents and industry productivity. Oregon patents-per-capita significantly outpace the U.S. average. Corvallis and the Portland metro are global leaders in patents, driven primarily by invention activity within several large companies. And Oregon consistently ranks top in the nation in terms of manufacturing output, a metric that signals the industry's commitment to adopting the latest advanced and efficient technologies.

Despite areas of strength, there is significant room for improvement. To compete, Oregon must prioritize investment in research and development, technology commercialization, new product development, and entrepreneurship in urban and rural communities and with full participation by underrepresented populations. Investment priorities will determine whether we are positioning Oregon to lead on innovation, or if we will merely react to future outcomes.

Download Plan for full description.

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Grow Small- and Middle-market Companies

The majority of job growth comes from the expansion of existing firms, especially with small business and the middle-market. Over the last decade, 64% of job creation in Oregon was attributed to small- and middle-market firms (vs. 55% nationally). In order for small and middle-market firms to grow, they must have the resources to innovate, use technology to be productive, and have access to consumer markets across the U.S. and the world, all areas where Business Oregon is uniquely suited to assist.

Individual firm success is often dependent on industry competitiveness. Industry clusters are a logical organizing principle to support traded-sector job growth in Oregon. Business Oregon's role includes company retention, expansion and recruitment, global trade, business technical assistance, financial support, and targeted community infrastructure investments.

Download Plan for full description.

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Cultivate Rural Economic Stability

The rural-urban divide is real and growing in regions across the U.S. Oregon is no exception. As our economy is increasingly driven by innovation, advanced technologies, and highly skilled labor, it is also becoming more metropolitan. Significant headwinds exist that place rural communities at a disadvantage relative to urban areas. This includes a concentration of declining industries, out-migration of skilled workers, and a lack of access to growing economic markets. Over the last decade, employment in rural Oregon communities declined 1.4%, compared to a 4% increase in the state's small metros and 14.2% increase in large metros. In general, poverty levels in Oregon are higher in rural Oregon than the state's rural areas.

Despite those headwinds, rural Oregon is home to some of Oregon's most important industries such as agriculture; tourism; food and beverage processing; manufacturing; and forestry and wood products. And rural Oregon is vital to the cultural and social fabric of the state. In order for Oregon's economy to remain competitive long-term it is critical to focus on achieving rural economic stability. Inequities caused by geography and declining natural resource-based industries have undercut long-term economic growth. This reality requires Business Oregon and partners to adopt a regionally-focused approach tailored to meet the unique opportunities and challenges of the state's diverse rural communities. A one-size-fits-all approach will not suffice, no single overarching solution exists. Efforts to build local economic capacity; new models for encouraging business development; small business and entrepreneurship support; infrastructure investments targeted toward job creation; and connecting rural products to growing consumer markets will all be important.

Download Plan for full description.

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Advance Economic Opportunity for Underrepresented People

On the back of a strong economy, shared economic prosperity remains a significant issue for many Oregon residents from underrepresented communities, particularly people of color, immigrants, and our native and tribal populations. Expanding economic opportunity is not just a moral imperative, it is an economic growth imperative. With rates of non-white population growth exceeding white population rates, it is increasingly important that underrepresented communities have access to quality jobs and have opportunities to create wealth.

To ensure an inclusive and competitive economy it is critical that economic development explicitly invests in communities and populations that encounter significant systemic barriers to economic prosperity. Attracting, retaining, and developing a skilled workforce is the primary driver of business competitiveness. Increased ethnic and racial diversity is a competitive advantage, but Oregon must address educational and workforce development disparities to have a competitive labor pool. Similarly, disparities in multi-generation wealth is the primary obstacle within historically disadvantaged populations to ensure long-term prosperity.

Download Plan for full description.

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Ensure an Inclusive, Transparent, and Fiscally Healthy Agency

Business Oregon will model our new organizational values in how we operate as an agency. Agility, accountability, collaboration, respectfulness, and taking initiative will drive our work. We are also a learning agency. Recent audits, ongoing stakeholder feedback, and insights from our strategic planning process indicate an opportunity to improve the transparency of our investments and the need to better market the agency's programs and services to our customers. Ultimately, we desire to be an employer of choice and are committed to being grounded in the principles of diversity, equity, and inclusion.

Download Plan for full description.