Business Summit Remarks
December 18, 2025
Good afternoon! It’s great to be here today.
Thank you, Dan, for your leadership and partnership in charting the future success of Portland.
I believe that charting Oregon’s future prosperity and helping every Oregonian have economic opportunity is truly a team sport. Big aspirations and big strategies require everyone to be bought in and engaged. I am proud to be your Governor, and I am proud to be captain of Team Oregon. And, my friends, we have work to do together for the state we love.
We have the opportunity to enter a decade of extraordinary economic growth and greater affordability — if we put the right partnerships, policies, and strategies in place now.
That means being honest about where we stand today. We must address our economic headwinds: sluggish job growth, elevated unemployment, and declining population trends. Some homegrown businesses have left. Bureaucratic red tape blocks critical investments. And we have a federal government increasing the cost of common goods through unpredictable tariffs, which places a particular burden on Oregon’s trade-dependent economy. These headwinds, felt across the country, have kicked up hard over the last the last eleven months under a Trump administration.
Oregon cannot be complacent. When the stakes are high, we must act with intentionality. Since taking office, I have focused on putting the essential pieces in place to address some long-entrenched challenges: homelessness, housing, education, and mental health and addiction care. Working closely with the Legislature — and with many of you in this room — we have successfully advanced critical policies and investments that are, and will continue to, bear fruit.
Through my homelessness emergency order, working with partners across our state, we have established a statewide shelter system with the goal of providing the stability needed to transition people from the streets into housing. We are lowering the rate of unsheltered homelessness and have prevented thousands from becoming homeless in the first place.
We have unlocked over 50,000 new housing units since I took office, with more than 200,000 additional units being planned through new land-use and zoning changes.
We have followed clear research to retool how our schools teach our youngest learners to read, banned cell phones from classrooms so kids can focus on learning and connection, and reset how we hold school districts accountable to improve student success statewide.
We have increased the number of mental health and addiction treatment beds, with an additional 308 beds available today, and 683 more by 2027, and we are tackling our historic workforce shortage in behavioral health. Oregon now has to focus on the seamless, continuous execution of these policies and investments.
Making real progress on these core issues, each of them vital to Oregon’s livability and well-being, has laid the foundation we need to respond to today’s economic headwinds. That’s why I unveiled the Prosperity Roadmap last week alongside Oregon innovators and entrepreneurs.
The Prosperity Roadmap is designed to harness Oregon’s strengths and talents. Such as promoting Oregon’s lower-cost West Coast location, with direct access to the Pacific Rim, and strengthening Oregon’s appeal as a hub for advanced manufacturing, clean energy, and global trade. Our exceptional quality of life — clean air, abundant fresh water, and a stunning natural environment — makes Oregon not only a smart place to do business, but a desirable place to live, work, and raise a family.
We are all here today because we care about Oregon. This event was established on the cliff of a recession 23 years ago. Since then, we have faced almost every kind of economic, social, and environmental challenge imaginable. We are resilient. How Oregon steps up to a challenge is our unique secret sauce.
Few examples illustrate this more clearly than what we witnessed this fall. Sometimes it takes an outside force to remind us of who we are — and who we are not.
When Portland was confronted with the threat of an unnecessary and unwanted military intervention by the Trump administration, Oregonians rediscovered their pride in their city and made a point of sharing it with the world. For several weeks, you couldn’t glance at your phone without seeing a spontaneous outpouring of love for Portland — from everyday residents, journalists, businesses, and elected leaders alike — sharing images and stories of this vibrant city.
The clear message, in the form of thousands of images and videos, was unmistakable: No one defines who we are except us.
Let’s take a moment to celebrate some incredible wins from this year:
A combined $4 billion investment in our sports franchises including the Thorns and the Trailblazers – and I can't wait for opening night next year for the Portland Fire. Sport is in Oregon's DNA and I'm very bullish on the future of sport in Oregon. We need to modernize the Moda Center and stay in the hunt for a MLB team.
A record-breaking $2 billion investment from Phil and Penny Knight in the Knight Cancer Center at OHSU, signaling to the world that Oregon is a place where extraordinary people make extraordinary things happen. OHSU and Portland will change how cancer care is done, and we will continue to grow as a place of excellence and innovation in the life sciences sector.
Continuing with the transformative opportunities supported by Phil and Penny Knight – the 1803 Fund, committed to restoring and redeveloping historically Black areas of Portland, purchased $70 million worth of real estate in inner North Portland. As Mayor Wilson said, this investment is about revitalizing “the soul of our city.”
The completion of the new Rothko Wing at the Portland Art Museum, one of the largest arts and culture capital projects in Oregon’s history, is a testament to what’s possible for the arts in our state.
$10 million in state funding toward the James Beard Public Market — a strategic investment that will create local jobs and help to revitalize Portland’s downtown.
A strategic initiative to waive System Development Charges to fast-track the development of 5,000 new housing units in Portland — or for up to three years, whichever comes first — thanks to the leadership of Mayor Wilson and the Portland city council.
Timberlab acquired land in Millersburg; investing $141M to build a 185,000 square foot cross-laminated timber manufacturing facility. The project will lead to the creation of 75 jobs and maintenance of the existing 159 jobs at its other Oregon sites.
Just last week, I visited Lam Research, a company with a proud, longstanding presence in Oregon. Lam recently completed a $65 million expansion, creating space for up to 700 employees. This investment reflects their confidence in Oregon’s talent and their commitment to growing in the Silicon Forest.
Hazelnut Growers of Oregon purchased and installed new production equipment at its Donald, Oregon facility. The project will lead to the creation of 60 jobs. This investment drew the attention of Ferrero, the industry's biggest customer who buys over 35% of the total world supply of hazelnuts and is now looking for deeper engagement in the Willamette Valley and additional investment opportunities.
And then there’s Cairnsprings Mills, which produces premium, stone-milled flour. They are planning for a mill site on the Umatilla Indian Reservation in Oregon. This plan includes the annual purchase of 1.8 million bushels of wheat per year from area farmers, for a total investment of $40 million and nearly 20 new jobs.
Metals fabrication and transportation equipment manufacturing form a strong backbone of our economy from Eugene to Medford to the Columbia Gorge. These industries reach global markets and support thousands of skilled-trade jobs, reminding us that Oregon’s strength runs deeper than the surface.
My recent trade mission to South Korea and Japan underscored the impact of these sectors and strengthened international relationships that will bear fruit for these industries into the future.
And sectors that have defined Oregon from the start — food and beverage manufacturing, agriculture, forestry, and engineered wood — continue to evolve through projects like Food Forward and businesses like Timberlab. They connect rural and urban communities through value-added production that marries natural resources with innovation. Together, these industry clusters have grown, adapted, and endured, shaping a modern economy that is both diverse and globally competitive.
All of these hard-won achievements — some already complete, others well underway — are exactly why we must come together to keep building momentum for economic prosperity across the state. They show that we have a strong foundation to build on and reflect the vitality and resilience that define Oregon’s communities.
My Prosperity Roadmap lays out three clear goals and immediate next steps. It reflects the perspectives of over 350 individual businesses, Oregon’s leading business associations, and economic experts. Think of it as the opening handshake — the start of a focused conversation that I hope everyone in this room will help carry forward into real results.
There are three goals:
Accelerate Oregon’s economic growth. We must restore our GDP to past levels, outpacing the national average — moving from 1.7% to 2.2%, which could increase state general fund resources by more than $4 billion through the 2029–31 biennium.
More living-wage jobs, now. Move from #23 in the CNBC Workforce Rank into the top 10 states in the country — a core indicator of economic health.
Grow and retain Oregon businesses. Move from #39 in the CNBC Top States for Business Overall Rank into the top 10 states nationally.
These are “reach goals” — and frankly, I don’t want any other kind. That’s because I believe in what’s possible when we build on our leadership, bring the right people together, and focus our expertise and creativity toward a common goal.
To support our common goals, I will be establishing a Governor’s Prosperity Council, convening business and workforce experts to support the roadmap and advise on additional recommendations. I’d like to thank Curtis Robinhold, Executive Director of the Port of Portland, and Renee James, Founder and CEO of Ampere, who will serve as co-chairs.
I will also be naming a Chief Prosperity Officer in my office to help turn this roadmap into action and serve as a central point of contact for business and community leaders. Working with the Council, this person will develop recommendations to create jobs and grow our GDP, including work in upcoming legislative sessions. I want to underscore the importance of the workforce in this conversation — this isn’t just about being open for business – it’s also about the people who do the work. We have incredible talent right here in Oregon, and we must keep our focus on encouraging, training, and inspiring that talent.
My plan is to announce both the Chief Prosperity Officer and the members of the Governor’s Prosperity Council by the end of the year.
For next year’s legislative session, I will introduce legislation to jumpstart the Roadmap. My bill will seek to establish a FastTrack Program, a streamlined permitting process for large projects that create jobs and grow Oregon's economy. The program includes a requirement for state agencies to review and inventory existing permits and accelerate those processes. I will also advocate for modernizing some existing economic development tools, like enterprise zones, and push the legislature to dedicate one-time funding for industrial site readiness.
Within state government, I’m directing Business Oregon to create a comprehensive economic development strategy. I will launch a Global Trade Desk to focus on foreign trade and investment opportunities, and I’m directing all state agencies to prioritize economic development in their day-to-day work.
These strategies are just the beginning. Just as we relied on creative, ambitious leaders and everyday Oregonians to craft this roadmap, I’m counting on Oregonians across the state to help make it real.
One final reflection before I close:
One of the things I have always appreciated about this summit and the Oregon Business Council is the focus on education. I will continue to fight hard for a strong, accountable K-12 system and find sustainable ways to strengthen post-secondary education to meet our workforce needs, but I also know we need to dig deeper for early childhood education.
I am planting a flag here today to ask all of you to join me in advancing a new, statewide conversation about pre-K learning and access to affordable childcare. We cannot talk about the need for future educational success for our children or the needs of working families without talking about early childhood education. Oregon can be a leader on this issue, and I look forward to that conversation with you.
Each of us has a role to play to create the Oregon we want and deserve. As Governor, my promise to you — and to every Oregonian — is that I will stay at the table until we forge a way forward. My approach has always been to find a path to yes.
Saying no is easy. Sitting on the sidelines and offering commentary is easy. Anyone can second-guess from the bleachers. But our state deserves more than that. I’m on the field, running hard for Team Oregon — and I’m asking all of you to join me.
Thank you.