Top 5 Oregon Business News Stories of the Year

Introduction

Oregon’s business landscape has seen significant changes this year, with several noteworthy developments that made headlines throughout the state. From the booming tech industry to the rising trend of sustainable businesses, the Oregon business world is making strides in innovation and growth. In this article, we’ll dive into the top 5 Oregon business news stories of the year, highlighting the key players and emerging trends in each of these stories.

1. Nike’s Sustainability Push

Nike, the giant sports apparel company based in Beaverton, Oregon, has made a remarkable commitment to becoming a more sustainable business this year. The brand’s ‘Move to Zero’ initiative aims to reduce waste and carbon emissions in its products and manufacturing processes. As part of the plan, Nike is investing in renewable energy, implementing more eco-friendly materials, and partnering with like-minded organizations to address climate change and other environmental issues. Nike’s sustainability push is not only making a positive impact on the planet but is also spurring innovation within the industry.

2. Expansion of the Tech Industry

The tech industry in Oregon is booming, with several companies announcing expansion plans this year. Intel, the global technology company with a significant presence in Hillsboro, is investing $11 billion in a new chip-manufacturing facility that will create thousands of jobs in the area. Amazon has also announced that it will be building a new fulfillment center in Salem, bringing hundreds of more jobs to the state. These expansions are putting Oregon on the map as a top contender in the tech world, attracting more talent and businesses to the area.

3. Solar Power Takes Over

Oregon is already known for its sustainability efforts, and now, solar power is taking over as the leading source of renewable energy in the state. Several large-scale solar projects have been initiated this year, including the 655-acre solar power plant in eastern Oregon. These projects are not only contributing to the state’s energy mix but also providing new job opportunities and attracting more investments to the area.

4. Wildfire Impact on Small Businesses

The devastating wildfires that raged across Oregon this year had a significant impact on businesses in the affected areas. Small businesses, in particular, were hit hard, with many losing their entire operations in the fires. However, this tragedy has also showcased the resilience and strength of Oregon’s business community, with numerous support efforts and funding initiatives launched to help these businesses get back on their feet.

5. Oregon Becomes a Hub for Hemp and CBD Industry

Oregon has emerged as a top player in the hemp and CBD industry this year, with more than 1000 registered growers in the state. The 2018 Farm Bill legalized industrial hemp production in the US, leading to a surge in hemp farming across Oregon. The state’s fertile soil, ideal climate, and abundant water resources have made it an ideal location for hemp cultivation. This industry has not only created numerous jobs in the state but also opened up new opportunities for economic growth and innovation.

Conclusion

Oregon’s business landscape is constantly evolving and changing, with new trends and developments emerging every year. The five stories highlighted in this article are shaping the future of Oregon’s business world, creating new opportunities for growth, sustainability, and innovation. As we move into the next year, we can expect to see more exciting news and breakthroughs from this dynamic and thriving business community.