Escape from Inflation to La Grande
28 Jul 2022
Inflation is impacting everything from energy and transportation to groceries and home furnishings. According to the U.S. Bureau of Labor, the June 2022 inflation rate was 9.1% - a staggering number that hasn't been seen since the 1980s.
At the same time, real average hourly earnings for all employees decreased by 0.3 percent, with an even more alarming 3.6% decrease in real average earnings year over year from May 2021 to May 2022.
The impact of these factors is a 1.3 percent increase in the Consumer Price Index for All Urban Consumers, causing businesses to see a soaring cost of goods and consumers to pay more at the checkout stand and in their monthly bills. As a result, many are wondering how they can save money.
A move to LaGrande, OR, could be the answer. There are multiple ways for people and businesses to save money by relocating to La Grande.
Lower your cost of living in La Grande
It’s more affordable for families to live in La Grande than in most U.S. states, which is equally essential for business owners and their employees. Per BestPlaces, La Grande’s overall cost of living was 15% below the national average. By comparison, it is 55% more expensive to live in Portland, OR, and Bend, OR, and 38% more costly in Boise, ID.
The most significant factors favoring La Grande are refreshing real estate prices and low utilities and transportation costs. Additionally, living in La Grande is beneficial because Oregon does not have state or local sales taxes.
Reduce corporate income tax by bringing your businesses to La Grande.
Businesses face a relatively tax-friendly corporate environment in Oregon. According to the Tax Foundation, while Oregon has a maximum 7.6% corporate income tax rate and levies a gross receipts tax, it was ranked the 22nd best state in its Business Tax Climate Index.
La Grande offers incentives for new business and business expansion.
When businesses move to or expand in La Grande, they can qualify for various incentives that can help to either finance the project or help to reduce the cost through grants and tax credits. The City of La Grande Urban Renewal Agency has programs to revitalize the La Grande Central business Zone, cash incentives for qualifying businesses creating local jobs and more.
Abundant land is affordable in La Grande compared to other states.
Businesses of all sizes can find available properties in La Grande, whether they seek raw land, shovel-ready sites, space within established business parks, retail developments or historic buildings. The popular La Grande Business & Technology Park is less than two miles from Interstate 84 and perfect for light industrial, warehousing and general office operations.
Don’t miss the opportunity to save money and combat inflation by moving to La Grande.
Inflation has had a more significant impact on the U.S. economy now than it has since 1981, but it doesn’t have to impact you or your business as strongly. There are ways to save money and while moving does take time and energy, the long-term financial benefits are worth the investment. Contact Timothy Bishop at email@example.com to learn more about the benefits of locating in La Grande and for help with relocation.