Nearly two-thirds of Oregon businesses say they are prioritizing making investments over cutting costs, according to new data released today by Columbia Bank. While half of Oregon business leaders will continue to monitor inflation, tariffs and broader economic conditions before making major investment decisions, most remain focused on growth opportunities with the expectation that demand, revenue and profitability will increase over the next 12 months.
The findings are from Columbia’s 2026 Business Barometer, an annual study examining the outlook, priorities and decision-making of nearly 1,200 small and midsize enterprises across the United States, including businesses with significant sales, employees and operations in Oregon.
Top Regional Priorities:
What is Driving Decision-Making for Oregon Businesses?
Oregon business leaders express a measured but growth-oriented outlook for the year ahead, balancing economic concerns with continued investment in expansion.
- Most Oregon businesses are more focused on growth rather than cost-cutting, with 64% saying they are prioritizing investment, compared with 35% who are focused primarily on reducing expenses. At the same time, 51% say they plan to wait six months before making significant strategic moves.
- Despite being less optimistic about revenue expectations (55% compared to 67% nationally), nearly two-thirds of businesses (64%) expect profitability to increase and 78% expect demand to increase.
- Oregon business leaders say they are very or somewhat likely to invest in expansion (72%), increase their real estate footprint (71%) and acquire another business (51%).
- Roughly half of Oregon businesses (53%) expect to increase headcount over the next 12 months.
Recent advances in AI capabilities are in part driving the 12-month growth outlook. Oregon businesses are more optimistic about the impact of AI than most businesses, with 81% saying it will strengthen their business. More than four in five Oregon businesses (83%) expect AI to help with employee satisfaction and retention.
While tariff impact has fallen out of as a top concern for many businesses since last year, it still ranks as a top two concern for Oregon businesses. Input from leaders indicates that the unpredictability of tariff implementation has been more challenging than direct tariff costs, as delays, exemptions and shifting percentage amounts have made planning difficult.
- 43% of Oregon businesses report tariffs have had a negative impact on their business over the past 12 months – higher than the national average (37%).
- 43% expect trade volatility, tariff impacts to last one to two years.
- 56% will seek tariff refunds.
To download Columbia Bank’s 2026 Business Barometer, visit: columbiabank.com/business-barometer.
Survey Methodology:
The Columbia Bank 2026 Business Barometer, conducted annually, surveyed 1,186 owners, executives and financial decision-makers from U.S. small and middle market businesses. The online survey was conducted in partnership with DHM Research, a public policy and business research firm, and targeted leaders at companies with $500,000 to $500 million in annual revenue. The survey, which did not filter for Columbia Bank customers, has a 2.7% margin of error and was fielded from April 28 to May 7, 2026.
About Columbia Bank:
Columbia Bank is an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. It combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management.
