Economic Opportunities Analysis (EOA) 2023

The Economic Opportunities Analysis (EOA) is a technical study that examines the relationship between Sherwood’s future employment needs and available land for industrial and employment uses. It supports Oregon’s Goal 9 planning requirements and helps guide policies for a healthy, diverse and resilient local economy.

The 2023 Economic Opportunities Analysis was adopted by City Council under Ordinance 2023-006, updating employment projections and industrial land needs to reflect Sherwood’s growth, market conditions, development trends, with input from the EOA Technical Advisory Committee.

Key Findings

• Assumed average annual employment growth rate 3.2% over the twenty-year period.
• Net increase of 8,280 jobs projected through 2042.
• Growth outlook influenced by updated research, industry trends, and guidance from the EOA Technical Advisory Committee.
• Identifies a 277-acre deficit of employment land needed to support future job creation.
• Economic development actions align with Comprehensive Plan goals to support a robust, diverse employment base.

To address this gap, the 2023 EOA recommends a range of economic development actions aligned with the City’s Comprehensive Plan. These strategies aim to maintain a vibrant, diverse tax base and expand local employment opportunities.

Next Steps:

Sherwood is pursuing several strategies to improve economic vitality by:

• Promoting advanced manufacturing, tech, clean industries, retail, hospitality and professional services.
• Supporting Business recruitment and retention.
• Preparing larger, shovel-ready employment sites.
• Expand infrastructure, including Ice Age Drive, Utilities and Sherwood Broadband.

Where Growth is Expected:

• Tonquin Employment Area
• Brookman Addition
• Sherwood West

Supporting Documents

Ordinance 2023-006 Economic Opportunity Analysis Update 2023 Draft Economic Opportunity Analysis (EOA)