Each time I visit Portland, Oregon, I’m impressed by the energy, the activity and the people I encounter. When you look at the Northwest US economy as a whole, it’s easy to let a massive market like Seattle gobble up all your attention. But you would be missing out on some really interesting opportunities in smaller cities across the region. Among those, Portland clearly stands out. Here are a few reasons we are bullish on the Rose City:
Leadership
Portland has a great mix of “leaders and feeders”, to use Brad Feld’s terminology, who seem to bend over backward to help connect outsiders and new-comers to the community. Rick Turoczy is not only a great example in Portland, but one of the best connectors I’ve ever encountered, period. At the association level, Skip Newberry and his team at TAO have done a fantastic job at organizing, representing and promoting the broader Portland tech industry. There’s a lot happening in Portland, but by connecting to just a handful of the right people, you quickly find yourself pulled into the ecosystem having relevant conversations.
Talent Magnet
Today’s economy is all about talent: where can you find it; how much does it cost; what types of skills does it possess. Cities that can produce or attract high skilled talent are well-positioned for economic growth. Portland is a place where people want to live and work. It has consistently been one of the fastest growing cities in America recently, with a workforce that is growing six times faster than the national average.
The city is proudly eccentric: known for active and eco-conscious lifestyles; robust craft beer and coffee cultures; and extravagant beards and tattoos. It’s also a highly livable city and that’s why young workers (and companies) are flocking there.
Clusters
Historically a major port (of course) with strong fishing and timber industries, Portland’s economy has evolved into a diverse and innovative economy. A quick survey of the largest employers gives you a sense of the core industrial makeup: hardware (Intel, Tektronix); apparel (Nike, Columbia Sportswear); and manufacturing (Daimler Trucks, Precision Castparts). Digging in, however, you see growing clusters of activity in renewables, smart cities technology, medical devices, and health & wellness.
Portland’s entrepreneurs seem to have a finger on the pulse of some of the biggest trends in the global economy. It shouldn’t come as a surprise: skilled workers want to work on critically important projects in a city with a very high quality of life.
Cascadia
Cascadia continues to be major buzzword in the Pacific Northwest. I’ve written a bit about it here, as has The Economist and New York Times, among others. As the Cascadia region continues to draw global interest for being an innovation powerhouse, Portland only stand to benefit. It may be decades before high-speed rail drastically improves the physical linkages, but Portland and its peer cities of Seattle and Vancouver are forging ahead building a world-class innovation corridor in the upper left coast of North America. And the world is starting to notice.
Global Ties
