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High Tech Fueling Oregon Economic Growth
An important measure of Oregon's economy showed robust growth in 2011, but economists say it was lopsided.The Oregonian reports the state's gross domestic product grew 4.7 percent in a year-over-year comparison, second among the 50 states.
The increase was fueled by large gains among manufacturers of durable goods.Economists say that's because of the strength of high-tech players such as Intel, the state's largest employer with 15,000 on the payroll. Without the manufacturing gains, the state's figure would have grown by less than a percentage point.
Real gross domestic product increased in 43 states in 2011. The fastest growing state was North Dakota, which is in a big oil boom. The measure, adjusted for inflation, reflects the value of goods and services produced in a state.