Oregon’s gross domestic product grew by 4.7% last year – that’s the second biggest GDP increase seen in all states. Gross Domestic Product is defined as the value added by production – so the wages of employees; the profits of businesses; and the taxes paid to governments.
In Oregon, the GDP of the construction sector, the education sector and health industry all grew by about 4%. But Josh Lehner of the Oregon Office of Economic Analysis said it’s the 15% increase in the high-tech manufacturing sector that pushed the state to the top of the growth chart.
“I think overall this is just the basic story, the basic pattern that we would expect in recovery, given our industry structure here in the state,” Lehner said.