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USA: Electric vehicle industry drives $266.5M economic impact in Oregon

A new report completed by researchers at Portland State University and released Tuesday found that Oregon’s electric vehicle cluster has created more than 1,500 jobs and fired $266.5 million in economic activity.

The report, commissioned by the state-funded industry support group Drive Oregon, also found that the industry has paid $11.9 million in state and local taxes and $20.8 million in federal taxes.

Northwest Economic Research Center at PSU completed the report, which is available for download at the Drive Oregon website. The report cost $50,000, $40,000 paid by Drive Oregon and $10,000 covered by the Portland Development Commission.

In a statement, Tom Potiowsky, director of the center and former Oregon state economist, said: “Our research indicates that the electric vehicle industry generates gross economic activity of $266.56 million, total value added of nearly $148 million and provides more than $89 million in total employee compensation. The industry continued to grow during the Great Recession, while other transportation industries suffered enormous losses.”

Potiowsky will be presenting the detailed findings of the report at a Drive Oregon gathering Tuesday afternoon at Kell’s Irish Pub. Potiowsky will also provide a briefing on the report to state legislators and officials on Wednesday during an event at the Oregon State Capitol.

“Drive Oregon commissioned this study to develop a clearer definition of the electric vehicle industry and its supply chain, generate a baseline evaluation of its economic impact in Oregon, and identify opportunities to leverage faster growth in the future,” said Jeff Allen, Drive Oregon’s executive director, in a statement.
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