An economic unicorn is a privately held startup company valued at over $1 billion.1 This spring an Oregon company was sold to a Canadian company for $946 million...just short of being an economic unicorn.
Startups play an important role in job creation and typically create two-thirds of new jobs nationally since the Great Recession. In some years, they may create almost all of the net jobs in the national economy.2 Combine innovation, successful startups, and partnerships and voila’ you may get a unicorn!
Oregon is known for innovation, ranking #3 behind California and Massachusetts in its success in building an innovation-based economy according to an April 22 news release from Business Oregon. Business Oregon helps support the innovation environment through public-private partnerships that help create new jobs and companies, diversify Oregon's economy, and bring Federal research dollars into to the State. 3
Business Oregon created the Oregon Innovation Index which creates a research report by looking at 20 different aspects of innovation. Oregon performed best in the categories of invention, translation, and economic prosperity and made strong gains in small business innovation research and technology transfer. Business Oregon also developed an innovation council called Oregon InC (Innovation Council) with three funding strategies that support innovation activities, which include:
Business Retention and Expansion (BRE) comes in many flavors. Making sure there is a workforce available to help support your industry is critical and often tough. Log truck driving careers can be a fast transition compared to other trades and pay very well!