Oregon economy on the mend, but outlook is pessimistic

| Print |  Email
Must Reads
Wednesday, August 29, 2012

Oregon's tax revenues are $80 million ahead of projections for the current two-year budget, but economists say the outlook for the next two years is more pessimistic. 

“We’re still in pretty good shape,” [state economist Mark McMullen] said during the state’s quarterly economic and revenue forecast. “We expect a little more revenue than we did three months ago. However, over time, the slower-growth forecast does more and more damage to the state budget.”

“The good news is today’s forecast means we won’t have to make cuts in this current biennium’s budget,” Senate President Peter Courtney, D-Salem, said in a statement. “As school kids prepare to return to classes next month, it’s good to know that the doors of our schools can stay open and that we won’t be forced to close prisons or cut services for seniors.

“Looking ahead to next session, today’s forecast makes it clear the coming biennium will present a whole new set of challenges. Our economy and revenue are growing, but not strong enough to keep up with our commitments. In 2013, it will be critical that we prioritize the things that are most important to Oregonians – educating our children and providing healthy and safe communities.”

Read more at The Statesman Journal.

{biztweet}oregon economy{/biztweet}

 

More Articles

Intrepid reporter checks out ZoomCare rebrand

The Latest
Wednesday, May 27, 2015
dentistthumbPHOTOS BY JASON E. KAPLAN

Like all good journalists, OB editorial staff typically eschew freebies. But health care costs being what they are, digital news editor Jacob Palmer couldn't resist ZoomCare's offer of a three-in-one (cleaning, exam, whitening) dental office visit, guaranteed to take no more than 57 minutes. 


Read more...

Urban renewer

Linda Baker
Wednesday, June 24, 2015
UnknownBY LINDA BAKER   

One year after he was appointed chair of the Portland Development Commission, Tom Kelly talks about PDC's longevity, Neil Kelly's comeback and his new role as Portlandia's landlord.


Read more...

An uncertain future

Guest Blog
Thursday, May 21, 2015
norristhumbBY JASON NORRIS | GUEST BLOGGER

Uncertainty is a part of doing business, whether in through the lens of investment opportunities and risks or the business of running an enterprise.


Read more...

Apartment Mania

Guest Blog
Thursday, June 18, 2015
4805983977 11466ce1d6 zBY BRAD HOULE | CFA

While most categories of commercial real estate have performed well, one of the most robust has been apartment buildings.


Read more...

Nine lives

Linda Baker
Friday, May 22, 2015
0f4f7bfBY LINDA BAKER | EDITOR

Roy Kaufmann always lands on his feet.


Read more...

Photo Log: The 2015 100 Best Green Workplaces in Oregon

The Latest
Wednesday, May 27, 2015
greenthumbPHOTOS BY JASON E. KAPLAN

Oregon Business celebrated the 100 Best Green Workplaces with an awards luncheon yesterday at the Nines Hotel in downtown Portland.


Read more...

Biker dreams

The Latest
Friday, May 15, 2015
bike at ater wynn-thumbBY KIM MOORE | RESEARCH EDITOR

The Portland Bureau of Transportation is seeking input from businesses on a $5.5 million initiative to create a network of biking, transit and pedestrian trails within Portland’s central city.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS