Oregon jumped from the bottom of the pack to the top 5 in a new national comparison of entrepreneurs, and the findings help to show that Oregon innovators and investors are coming together, said State Treasurer Ted Wheeler.
The national index considers several factors including per-capita startup growth, and was developed by economists at the University of Nebraska-Lincoln. The study can be found at http://bbr.unl.edu/documents/State_Entrepreneurship_Index_July2011.pdf
Oregon was the biggest positive mover in the rankings, jumping from 45th among states to 5th. The top five states are New York, Washington, Massachusetts, new jersey and Oregon.
“Helping entrepreneurs to establish and grow businesses in Oregon is an important part of our long term economic development strategy,” said Treasurer Wheeler, who is the chairman of the Oregon Growth Account Board and sits on the board of Oregon Inc. “More investors are looking at Oregon because good ideas are growing here, from border to border.”
The study looked at the growth in ventures per capita, business formation rate, patents per 1,000 residents, and per-capita gross receipts of sole proprietorships and partnerships.
Wheeler said the improved ranking is good news, but Oregonians can’t be complacent in their business development efforts.
The Oregon Growth Account is one of the state’s strategic economic development tools, and invests a share of Oregon Lottery proceeds to help kick-start emerging companies. Returns from successful in-state investments go to help Oregon schools through the Education Stability Fund.
A March 2010 study by the Kauffman Foundation of Entrepreneurship showed that small startup companies are responsible for disproportionate job creation in the United States. Oregon was 14th in a ranking of “New Economy States” produced by the Kauffman Foundation in November 2010.
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