Economy
172 articles · Page 15 of 18
Oregon's Community Hospitals Struggle with Financial Woes Amid Rising Labor Costs and Government Mandates
Oregon's community hospitals are facing severe financial challenges, with a $414 million loss from Q1 2022 to Q1 2023. Hospital visits declined by 2.3% and emergency visits by 7.2%, while expenses increased by 6%, primarily due to rising labor and medical supplies costs, compounded by higher taxes and government mandates.
Navigating the Fiscal Tapestry: An In-depth Look into Marion County's 2023-24 Property Tax Roll
Navigating through the cascading figures and percentages of property values, Marion County, situated in the vibrant heart of Oregon, emerges with the unveiling of its 2023-24 Property Tax Roll. Certified...
Salem's Single Property Tax Increment Financing District: A Boon for Affordable Housing Development
Salem, Oregon has introduced a tax incentive, the Single Property Tax Increment Financing (TIF) District, to promote affordable housing development amid growing demand. This program offers property tax rebates and reduced System Development Charges (SDCs) for projects meeting specific criteria, aiming to enhance the local economy and provide accessible housing options for residents.
Committees Hear Updates on Housing Priority Bills
Last week, Oregon's House and Senate housing committees reviewed legislation focused on homelessness and housing production, notably Gov. Tina Kotek’s bills HB 5019 and HB 2001. These bills aim to fund shelter initiatives and modular housing. Workgroups were established to address issues like short-term rentals, elder housing, and a landlord registry.
Committees Receive Progress Reports
The Oregon Legislature held committee meetings focusing on updates regarding housing, homelessness, semiconductor development, and youth behavioral health. The Pac/West team hosted an event with the Oregon Manufactured Housing Association to discuss housing solutions. Additionally, House Republicans elected new leadership, signaling a cooperative approach for the upcoming February session.
2021 Office Market Recap
Salem's office market faced negative absorption during the pandemic, but improved conditions and a lack of new supply have led to recent rent increases and robust leasing activity. 2021 saw record sales and a notable recovery, with expectations for over 75% of employees returning to offices as the market stabilizes.
Central Area Neighborhood Development Organization
The Central Area Neighborhood Development Organization (CANDO) is automatically open to residents, businesses, and property owners in Salem, fostering community engagement and local decision-making without dues. Regular meetings address local issues, promoting a lively community. Participation is flexible, with resources available for involvement, including meeting agendas and direct contact for inquiries.
Selling Your Business to Retire?
Selling a closely held business requires thorough preparation, including gathering critical information about the business, personnel, and markets. Owners should maintain a positive attitude and work closely with advisors while compiling documentation like financial statements, contracts, and property details. This information aids in establishing the business's market value effectively.
The High Cost of Inflation
Inflation is increasingly concerning, especially with the U.S. rate hitting 8.5% in early 2022, the highest since 1982. This rapid inflation reduces purchasing power, particularly hurting those on fixed incomes. Small businesses report significant impacts, raising prices due to rising costs from supply chain issues and fuel, yet struggle with fixed contracts and lower earnings.
Will Oregon Suspend its Gas Tax?
Maryland, Georgia, Florida, and Connecticut have suspended their gas taxes to alleviate rising fuel prices, albeit for limited durations. Governors face complexities over funding and potential layoffs linked to tax suspensions. Oregon remains firm on its gas tax, despite rising costs, with a reevaluation expected post-primary elections.