High tech still dominates Oregon economy – Software, computer spending doubled in recent quarter

Once a sleepy farm town and now home to the largest division of Intel Corp. in the nation, this Portland suburb -Hillsboro is dominated by a high-tech industry that also determines much of the economic future of the entire state.

This year, the future appears brighter than for most of the past three years, when Oregon consistently recorded the highest unemployment rate in the nation nearly every month.

http://www.cdapress.com/articles/2004/02/14/business/bus02.txt

The number of jobs in high-tech manufacturing — computers and electronic equipment — hit a peak of 50,900 in February 2001. By December 2003, it had fallen to 40,600 — a 20 percent decline.

But economists say high-tech in Oregon may be on the rebound.

”If you look at the national numbers, you’re seeing a significant acceleration in business investment and spending,” said John Mitchell, regional economist for U.S. Bancorp.

Software and computer equipment spending across the nation more than doubled in the most recent quarter, he said.