Wednesday July 8, 2020
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Oregon Sees More Newcomers Than Any Other StateSalem-News.com Business
This population growth helps fuel the Oregon economy.
(SALEM, Ore.) - A recent report from the Oregon Employment Department found that more people are moving to Oregon than are leaving. The difference between people moving in and out is called the “in-migration” number.
On average, nearly 40,000 residents from California relocate to the state, compared to the 20,000 Oregonians that headed to California, creating a net gain of 20,000 people from a single state.
Behind California, Oregon has the second highest number of migrants coming from Hawaii. There were also more people coming from specific industries, with the majority moving to Oregon for food preparation and serving positions, and retail and sales jobs coming in second.
Ultimately, this population growth helps fuel the Oregon economy. Oregon had slightly higher employment rates than the national average last year, and data from United Van Lines, a St. Louis-based moving company, found that there were more newcomers to Oregon than any other state during 2018.
As one of the fastest-growing states in the nation, there are plenty of reasons why people are moving to Oregon.
In the survey conducted by UVA, 17% cited a lifestyle change as the reason for the move. As it turns out, more people are moving to the state for a lifestyle adjustment than any other state. The outdoor culture in Oregon is vast and diverse. There are a large number of unique outdoor recreational activities.
“This year’s data reflects longer-term trends of people moving to the Pacific West, where cities such as Portland and Seattle are seeing the combination of a boom in the technology and creative marketing industry, as well as a growing ‘want’ for outdoor activity and green space,” economist Michael Stoll said in the United Van Lines release.
Although state real estate prices have risen slightly, some areas of Portland have a track record for having strong, reliable investment opportunities. In Salem alone, median home sales increased by 3% over the past year. Investors looking for land for sale in Oregon should capitalize on the growing economy in the state as competition for property and housing increases.
The legalization of cannabis also plays a role in economic growth. The Oregon Department of Revenue paid out $85 million in marijuana taxes to public health initiatives, police, and school systems. The largest share went towards education.
Lastly, a rise in the startup scene continues to attract residents to the area. In 2018, Oregon startup investments doubled, reaching its highest point in nearly 20 years.
Over the past few years, Portland has carved its own niche as a hub for startups during a time when entrepreneurs prefer to stay away from high-priced, over-saturated tech cities like Silicon Valley.
According to experts, we can expect more people to turn to progressive cities like Portland for increased culture amenities, realistic real estate prices, and a sustainable work-life balance.
Source: Salem-News.com Special Features Dept.
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