On December 2, Governor Tina Kotek revealed a comprehensive strategy aimed at revitalizing Oregon’s economy by attracting investment, supporting local enterprises, and expanding employment opportunities. Central to her plan is the appointment of a Chief Prosperity Officer, the formation of a Prosperity Council, and proposed legislative measures during the 2026 session to strengthen the state’s economic framework. n nRecent assessments have highlighted Oregon’s struggles in business competitiveness. According to CNBC, the state ranks 47th for ease of doing business and 43rd in operational costs. A June 2025 report by Oregon Business and Industry found it ranked 13th for business closures and seventh among the most regulated states in the U.S. n nKotek emphasized that despite these hurdles, Oregon possesses strong foundations for long-term economic success. She stressed the importance of unified action across government and private sectors to unlock the state’s full potential. Her vision calls for coordinated efforts to transform Oregon into a leader in sustainable economic development. n nThe initiative, introduced at Lam Research’s Tualatin campus—a semiconductor firm that recently invested $65 million in a new 120,000-square-foot facility—outlines a decade-long growth trajectory. The roadmap acknowledges current setbacks, including sluggish job creation, rising unemployment, and population decline, which are worsened by companies relocating out of state and inefficient use of public resources. n nThe governor outlined three core objectives: accelerating statewide economic expansion, increasing access to well-paying jobs, and supporting the retention and scaling of local businesses. One measurable target is lifting Oregon’s GDP growth rate to 2.2%, which could generate an additional $4 billion in general fund revenue by the 2029–2031 budget cycle. n nAdditional benchmarks include advancing from 23rd to within the top 10 in CNBC’s workforce rankings and improving from 39th to the top tier in the network’s overall state business climate index. To achieve this, the newly appointed Chief Prosperity Officer will refine strategic priorities, set timelines, coordinate interagency collaboration, and serve as a liaison for industry and community partners. Details on qualifications or compensation have not yet been disclosed, though recruitment is underway. n nThe Prosperity Council, expected to be finalized by year-end, will guide policy direction alongside the officer. Kotek plans to introduce a “FastTrack Program” in the February 2026 legislative session, modeled after federal “FAST 41” and similar initiatives in Pennsylvania, Maryland, and Michigan, to expedite approvals for major economic projects. n nState agencies are being asked to audit existing permitting processes and identify ways to simplify licensing and certification procedures. Additional steps involve increasing funding for the Industrial Site Readiness Program to accelerate business development. n nThe council and officer will also propose tax incentives tied to job creation and GDP growth ahead of the 2027 legislative session. Furthermore, a new “Global Trade Desk” will be established under Business Oregon to attract foreign direct investment and promote the state internationally. n nChristopher Evans, president of Portland-based Timberlab, praised the initiative, noting Oregon’s leadership in mass timber innovation and the need for streamlined governance to maintain its edge. Port of Portland’s Curtis Robinhold and Ampere CEO Renee James, who will co-chair the council, also voiced support, underscoring the importance of removing bureaucratic obstacles to progress. n
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Gov. Tina Kotek lays out ‘prosperity roadmap’ to grow Oregon economy
Gov. Tina Kotek announced Dec. 2 she will hire a chief prosperity officer, establish a Prosperity Council and sponsor legislation in the upcoming session to retain and grow businesses in the state, create more jobs and accelerate Oregon ‘s economic growth. n nRecent rankings have not painted a positive picture. The Consumer News and Business Channel ranked Oregon 47th in business friendliness and 43rd in cost of doing business. Oregon Business and Industry said the state ranked 13th in business closings and seventh among the most heavily regulated states in the nation, according to a June 2025 study. n n“Oregon ‘s foundation for economic prosperity is extraordinary. Now we must bring our full potential to bear, working together to create an economy that works for everyone,” Kotek said in a prepared statement. “By uniting around a statewide vision and coordinating our talents and assets, we can ensure Oregon doesn’t just keep up but leads in sustained economic growth.” n nKotek unveiled her “Prosperity Roadmap” at an event at Lam Research in Tualatin, a semiconductor manufacturer that recently added a new $65 million, 120,000 square-foot facility at the site. n nIn her roadmap, Kotek says the state is “on the brink” of a decade of economic growth and affordability, and acknowledges a lag in job growth, rising unemployment and a declining population. n n”These challenges, compounded by business outmigration and underutilized state resources, require more than observation – they demand coordinated and strategic action,” Kotek said. n nKotek said she directed her office to develop a statewide economic strategy focused on three goals: n nAccelerate Oregon ‘s economic growth n nMore living wage jobs n nRetain and grow Oregon businesses n nKotek has set a goal of increasing the state ‘s GDP growth to 2.2% to increase general fund resources by $4 billion over current projections through the 2029-2031 biennium. n nShe ‘s also aiming to move Oregon from 23rd in CNBC ‘s workforce ranking to the top 10, and from 39th in CNBC ‘s Top States for Business overall ranking to the top 10. n nTo do so, Kotek is creating a chief prosperity officer “to refine and expand” the “strategic goals, such as establishing clear timelines and deliverables, coordinating cross-agency efforts, and serving as a central point of contact for business and community stakeholders.” n nAn exact job description or salary was not immediately available, and recruitment is ongoing. The governor will also establish a Prosperity Council to guide her office and the new chief prosperity officer and wants the officer and council to be finalized by end of year. n nIn the legislative session scheduled to begin in February 2026, Kotek will sponsor a bill to establish a “FastTrack Program” to support large projects that could create jobs and boost the state ‘s GDP. n nKotek said the program is modeled after “FAST 41” at the federal level and similar to programs in Pennsylvania, Maryland and Michigan. n nThe governor is also directing “relevant” state agencies to submit permit inventories and identify chances to streamline licensing, certification or permitting. n nOther next steps include an investment into the industrial site readiness fund to expand businesses faster. n nKotek is also directing the council and the new Chief Prosperity Officer to develop recommendations for tax relief for job creation and increased GDP for the 2027 legislative session. Additionally, she ‘s creating a new “Global Trade Desk” at Business Oregon to promote the state as a destination for foreign investment, she said. n n”Oregon has the resources, the people, and the attitude, and in combination these assets ensure we are able to work effectively with our partners to do the extraordinary: successfully land the plane, every project, every time,” said Christopher Evans, president of Portland company Timberlab. “To date, Oregon has dominated mass timber innovation. We can remain the epicenter. To stay there will demand what Governor Kotek is proposing today: a clear roadmap for growth, a coordinated effort from leaders, and removal of red tape and other barriers to growth. In other words, a fast track towards prosperity.” n nPort of Portland Executive Director Curtis Robinhold and Ampere CEO Renee James also spoke. n nThe exact makeup of the council was not immediately available, but Kotek said Robinhold and James would serve as co-chairs.