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Turning Students into Leaders
Young Entrepreneurs Business Week is July 15th – 21st.
 
We are absolutely sold on the Young Entrepreneurs Business Week (YEBW) program.
 
It’s a one-of-a-kind program, right here in Oregon – a weeklong, college-accredited program where students, grades 9-12, learn value-centered entrepreneurship, financial literacy, leadership, teamwork, and goal-setting skills.  
 
Last summer, we had the chance to meet all the kids and participate in judging their business plans.  It makes you feel pretty good about the future or our state.
 
 
 
This year’s program is July 15 -21 on the Oregon State University campus in Corvallis.
 
Check out the details on this year’s YEBW program.

Should Oregon revisit its tax system?
Changing Oregon’s tax structure could fuel jobs and income growth


We’re number 42.

This month’s edition of Chief Executive magazine ranks Oregon in the top 10 worst states for business.  (See the survey here.)

The ranking was based on the magazine’s survey of 650 CEOs nationwide.

Regardless of the rankings, we were most interested in what CEOs had to say about our state.

We are constantly looking for take-aways in surveys like this – things that would make Oregon better, grow our economy, create more jobs, or raise our standard of living.

The messages from the nationwide CEO survey had a common theme.

Said one CEO: “Oregon, is a great place to start a business, but all successful businesses move out when the founder leaves. And so does he. The tax structure drives all movable wealth out of the state.”

We’ve long suspected that Oregon’s tax structure is an impediment for economic growth and job creation.  But as a state, are we starting to wake up to this reality?

Other CEOs chimed in as well.

Oregonians Need a Raise

New Data:  Oregon incomes 15% less than Washington incomes.

New 2011 data from the U.S. Bureau of Economic Analysis indicates that when it comes to per capita incomes, compared to the rest of the U.S., Washington and Oregon are on diverging tracks.
 

The per capita income of Washingtonians, at $44,294, is 6% higher than the national average.

Oregon’s per capita income, at $37,909, is 9% lower than the nation as a whole.

The numbers illustrate two states on different tracks. 

In 1971, Washington’s per capita income was about 0.5% above the national average with Oregon’s being close, about 3% below that of the U.S. – so the gap between the two states was less than 4%.  By 1981 the gap was 9%.  By 1991 it was 10.7%.  By 2001 it was 11.9%.  And in 2011 it has widened to over 15%.

It would not be so disturbing if the gap simply reflected a difference between two states running ahead of the national average, one more successfully than the other.  But it is the result of one state going up – and other down – relative to the rest of the nation.

We believe that Oregonians need a raise.

But to earn that raise, one thing is clear

 


Sign Petition to End Oregon’s Death Tax
Ending Death Tax will create jobs and grow incomes for Oregonians

Dave Easton is a friend of ours.

He and his wife have owned and operated the local Ace Hardware store in Forest Grove for 40 years.

His story is a good example of what Oregon’s Death Tax means for small businesses and family farms across Oregon. (You can see his story here.)

You can help bring an end Oregon’s Death Tax by signing the official petition to put the issue on the November 2012 Oregon election ballot. View full text of the measure here.

Oregon levies a tax on estates worth over $1 million when the owner of that estate dies. The Oregon Death Tax rate ranges from 8 to 16 percent.

For someone like Dave, the estate is largely comprised of the value of the small business – the land, the building, and the value of the inventory. The death tax is imposed on property that the owner has already paid taxes on, or on assets that were accumulated with after-tax dollars.

It’s double taxation.

Dave’s family, just like small business families and farmers all across Oregon, would be forced to liquidate business assets just to pay the tax. Family businesses are compromised. Jobs are compromised.

Oregon is one of only 3 states west of the Mississippi River that still has a Death Tax. Twenty-nine states have abandoned this tax since 2001.

There’s a reason why.


You Have the Information You Need, Now Use It
Deadline to Register to Vote is April 24th

At our core, we are a project that seeks to translate knowledge into action.

We believe Oregon has two fundamental issues we need to overcome – our economy is not producing enough jobs or high enough incomes for Oregon families.

Our unemployment rate is consistently higher than the federal rate and our income levels are nearly 10 percent below the national average.

We aspire to draw attention to and advocate policies that create 20,000 new jobs per year and lift Oregon incomes higher than the national average.

And then we ask you to vote.  

We don’t tell you how to vote, but we certainly arm you with information that can help you reach your own voting decisions and set Oregon on a better path.

You can learn about the issues that matter for job creation here.

You can find out more about your area lawmakers here.

You can find the Prosperity Voting Records for lawmakers here.

Finally, and most importantly, you can register to vote here.

April 24th is your last day to register to vote for the May elections!

On May 15th – Election Day – your ballot must turned in.  A postmark will not suffice.  Ballots must be in the possession of your county clerk by 8pm.

Again, if you haven’t already, please register to vote here.


A Key Oregon Advantage Takes a Hit
Court ruling undermines a classic Oregon success story

Oregon’s workers’ compensation system is a national model.  

It’s a hallmark Oregon success story that has proven to be one of our state’s great competitive advantages leading to business investment and job creation.

Every employer is legally required to purchase workers’ compensation insurance coverage to pay for medical care and lost wages in the event an employee is injured on the job.

As of today, 1.62 million Oregonians are covered by their employer.

Since 1990, Oregon has gone from the 8th most expensive state in the US to the 10th most affordable. Premium costs to Oregon employers have dropped by 60% in that same time, saving Oregon employers more than $18 billion.

What was once a major drag on our state’s economy has now become one of our biggest competitive assets.  

But this isn’t to say that workers’ compensation coverage isn’t costly. It’s a significant hidden cost that most of us don’t see. Oregon businesses will pay about $800 million this year.

In return for requiring employers to purchase this coverage, Oregon law shields employers from lawsuits stemming from workplace injuries.

But a recent court opinion threatens to unravel the core of this success.


A Visible Watershed Moment for Oregon Jobs

Every once in a while, our state experiences a very visible watershed moment when we decide whether we are serious about being a state that is hospitable for investment and job growth.

The messages and outcomes stemming from these moments reverberate throughout the country. 

Companies, business owners and job creators all across our country form their opinions about Oregon in instances like these.  They define whether our state is perceived as welcoming for new business and investment, or whether we allow outsiders and interest groups to drive away investment in our people and our state.

We appear to be experiencing one of those moments now in the small town of Cascade Locks.

This needs to be a victory for economic self-determination, economic growth and job creation.

This week, we’ll let Representative Mark Johnson, who represents Cascade Locks in the Oregon Legislature, tell the story.

These moments matter for the perception of our state and the growth of our economy and jobs.  Today, the event is in Cascade Locks.  Tomorrow, it could be in your community. 

We hope you’ll take the time to write a quick note of support to Rep Johnson here.  We also hope you’ll express your support for Cascade Locks to Governor Kitzhaber here.

 


Are Oregon’s Business Taxes Competitive?
High unemployment taxes dampen Oregon’s competiveness and could hurt job growth


For months, we’ve been thinking of doing a piece on taxes that are paid by Oregon business. We’ve been especially interested in this topic since there seems to be a sentiment in Oregon that business doesn’t pay its “fair share” of taxes. 

Proponents of Measure 67, the ballot measure that increased taxes on Oregon companies in 2010, certainly used this argument to great effect.
 
Business taxes are an important factor in business location because they are a significant cost of doing business.  As a result, decisions on where to locate or grow a business, and all the jobs that come with it, are influenced by assessments of relative tax burdens across multiple states.

If we lived in a vacuum, then taxes wouldn’t matter.  But we don’t.  Here in Oregon, we are competing against 49 other states that want business and job creation as much as we do.

We were spurred to action this week by the recently-released groundbreaking report by The Tax Foundation, called “Location Matters,” which illustrates clearly that, on average, Oregon companies pay more in taxes than their counterparts in other states.

In fact, Oregon’s total business tax burdens make Oregon uncompetitive as a place to locate and grow business and high-wage jobs for certain industries.

Here’s how Oregon’s business tax competitiveness ranks in key industries…

 


Oregon Legislature 2011-12
Prosperity Voting Records

Learn more about the issues we talked about this February and how they fared.

Take a minute to find your legislator on the Oregon Prosperity Project website.  Get to know them through the tools provided.  See how they voted on job creation issues not only in 2011-12, but in previous sessions.

And finally, you can check out the updated voting records here.


Our 2012 Prosperity Agenda… and how it fared

As we outlined in the weeks leading up to the February 2012 legislative session, we believed the legislature had the ability to deal with a short list of sensible issues that could spur private sector job growth and income growth in Oregon.

We advocated for eight job-creating proposals.


 


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