Oregon Ranks 45th in Nation for Economic Outlook

Date: May 05, 2015

Taxes and minimum wage hurt state's ranking.

In what may come as little surprise to small business owners in the state, Oregon ranked 45th in the country for 2015 economic outlook in the 8th annual Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index. The index included factors such as property, sales and estate taxes; minimum wage; workers’ compensation costs; and top tax rates. In particular, Oregon got low marks for its high minimum wage, its top marginal personal and corporate income tax rates, its estate tax and the fact that it’s not a right-to-work state. The 45th ranking was even lower than Oregon fared last year, when it was 42nd in the nation.

Neighboring states all ranked higher than Oregon in the 2015 index, with Washington at 35, Idaho 6, California 44 and Nevada 10. The top state in the index was Utah, while the bottom was New York.

The study also ranked states according to economic performance of the past 10 years. Oregon did far better in that ranking, coming in at No. 7. That measure ranked states according to gross domestic product, absolute domestic migration and non-farm payroll employment.


Related Content: Small Business News | Economy | Oregon

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