ECONOMY AND CLUSTERS

 

Over the past three decades, Portland’s work force has grown by 110 percent, from 463,000 jobs in 1975 to 972,400 jobs in 2009 — hitting a pre-recession peak of 1,015,200 jobs in 2006. With a broad range of traded sector companies active within the region, several key clusters show potential for growth, as do the state’s unique niches in bicycle frame building, craft brewing and distilling and the manufacturing of coffee, tea and other beverages.

Portland focuses its resources on enhancing business competitiveness in four industry concentrations: Clean-Tech and Sustainable Industries, Activewear, Software and Advanced Manufacturing. Each of these industries is thriving due to differing but equally unique economic attributes of the Portland region. This cluster strategy embraces the belief that Portland’s unique competitive position as a leader in sustainability will translate into growth in revenue and profits for the city’s existing business base and firms in its target industries.

The strength and fiscal responsibility shown by local governments are equally important to an area’s economic stability. The City of Portland’s “Aaa” bond rating demonstrates this stability. Since 1973, the City of Portland’s unlimited tax general obligation debt has maintained this rating assigned by Moody’s Investors Service. The City of Portland retains this rating based on its own credit quality, rather than through the use of credit-enhancing bond insurance.

Portland-Vancouver MSA Employment by Sector - http://sheet.zoho.com



 

 

 

 

 

2010 Portland Development Commission