Over the past few years, Sherwood has held the honor of being one of the fastest growing cities in Oregon. With a population of only 3,080 in 1990, the City has boomed to a current population exceeding 16,000 in 2009.

With the swirl of growth around it, the City has managed to maintain a first rate quality of life for its residents through a unique park and recreation system, a great school system, and a revived central business district - Old Town. However, the City continues to struggle with an abysmal (70% residential/30% non-residential) tax base despite availability of light industrial land. In response, the Planning Commission and Sherwood Urban Renewal Planning Advisory Committee (SURPAC) identified economic development as a priority in 2006. The Economic Development element of the Comprehensive Plan (Part 2) was last updated in 1991.

With funding from a general fund technical assistance grant ($35,000) from the Oregon Department of Land Conservation & Development (DLCD), an economic development strategy was completed which provides goals, objectives and an action plan for economic development. The Council implemented this strategy through Ordinance 2007-003.