Oregon is known for its lush forests, rainy climate, artisan breweries, and quirky Portland hipsters. But what most people don’t know is the state is booming with entrepreneurship. With a thriving start-up scene, more than 320,000 small businesses, and big-name brands like Adidas and Nike, Oregon is the nation’s best-kept commercial secret.
So what makes Oregon so desirable for businesses? The reasons abound as to what makes the Beaver State a business-friendly capital. From a highly educated workforce to low operating costs, the state gives you access to a talented network of potential employees and inexpensive means to set up shop. Oregon also has an impressive business climate that welcomes and rewards small businesses and motivates investors. The state’s largest city — Portland — cracked the Top Ten in Inc.’s recent list of the 50 best places in America for starting a business. Beaming with a range of industries, Oregon will make any business feel like home. Portland’s foodie scene is brimming with possibilities for potential bars, restaurants, and cafes. Outdoor and athletic apparel will certainly attract attention to Oregon’s outdoor enthusiasts. With cannabis legal for medicinal and recreational use, businesses focused on the plant are sure to be popular. Tech and software companies are growing in the state’s budding start-up community. And health care and electronics and computer manufacturing companies are expected to prosper in the coming decade in Portland.
So if you are an entrepreneur thinking about starting a new company, but are not sure where would be the ideal location for economic growth, look no further than Oregon for your business venture.
Flourishing start-up community
Oregon is fast becoming the quintessential home for start-ups. And Portland, specifically, is on the rise to rival the pricier areas of Seattle and Silicon Valley in terms of an impactful start-up scene. With a variety of industries from bio diesel recycling to commercial roofing in Oregon, any entrepreneur can find success in Oregon. Both Portland, and the state as a whole, boasts numerous resources, groups, pages, events, and training programs for new business owners. Oregon’s culture encourages business independence, collaboration, and a do-it-yourself attitude that speaks to start-ups.
Business-friendly tax system
Oregon’s tax system is not just friendly to consumers, but to businesses, as well. Known for not having a sales tax on its products, the Beaver State provides retailers with copious profits. The no sales tax policy makes stores the biggest recipients of Oregon’s generous tax system.
So whether you are selling expensive outdoor power equipment in Gresham, OR or a small cup of coffee in Portland, you will be reaping the full profit.
Big incentives for small businesses
Oregon offers several opportunities for emerging businesses to take advantage of. The state’s Emerging Small Business certification program gives priority to new businesses with various government contracts, including municipal and city contracts.
The state also offers the Oregon Investment Advantage, a program that helps businesses start or locate operations in counties across the state. If your company creates at least five full-time jobs in the county and sets up new facility operations that are the first of their kind in the state, you could deduct or completely erase your state business income tax liability for up to ten years.
Oregon might be a skeptical choice for some entrepreneurs who assume California would be better suited to their needs. But don’t judge a book by its cover because with Oregon’s favorable business atmosphere, variety of industry markets, and a cheap office space surrounded by redwood trees and water, the more business savvy decision could be where you least expect it.