A new analysis shows planning for growth in sectors like healthcare and biotech-related fields will be critical in supporting Bend’s economy over the next 20 years.
The analysis, known as the Target Sector Analysis, will help guide how Bend’s economic landscape develops over the next 20 years.
The analysis looked at key economic trends related to industry growth in Bend, including those industries that have workers relative to Bend’s working population, as well as industries that are growing faster than state and national averages. This included industry sectors that primarily serve the local community and ones that export their services and products outside of Central Oregon. Broadly, the analysis suggests sectors like healthcare and bioscience research are two industries expected to grow significantly over the next decade, and that industries like manufacturing and tourism will remain important to support. The local economy is continuing to move away from resource-based economies like forestry and mining.
This analysis helps the City focus planning efforts to incentivize and accommodate emerging, growing and stable industries. This information will ultimately inform an economic opportunities analysis, which will look at how much land and infrastructure we will need in the next 20 years to support these growing economic sectors. This will be a key element of the forthcoming Growth Plan.
Some examples of how a City can support economic growth include policy incentives, zoning and infrastructure planning.
The analysis highlights other findings, such as Bend’s robust remote worker population. According to the analysis, 28% of Bend’s workforce works remotely—well above state and national averages. This fact, for example, may also influence future analysis around how much land will or won’t be needed to support certain economic sectors.
The report is available to review here. The Bend Economic Development Advisory Board will discuss the analysis and make a recommendation to the Bend City Council at its April 2 meeting.
