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More Companies Moving to Portland in 2019

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Though the Bay Area has been tech’s capital for several decades now, earning it the moniker Silicon Valley, Portland’s Silicon Forest is quickly catching up. Sports and health are also big draws for job seekers with medical facilities like the world renowned Oregon Health & Science University whose two campuses employ over 15,000 people. Nike leads the way in the sports and apparel industry, but companies such as Adidas, Columbia, Keen, Under Armor, and the fast growing tomboy clothing company founded by Nike expats, Wild Fang, make for a diverse set of opportunities. Portland’s ever-growing foodie scene is enticing for restaurateurs and hungry tourists and residents alike.

Portland is also a go-to city for professionals in the film industry. In fact, some first-time directors go their start in Portland, including Clementine’s Lara Jean Gallagher, whose film was accepted into both the Venice and Sundance programs. Laika Entertainment, LLC is known for its stop-motion animation and films such as Coraline.

How Portland is Growing

Although growth has slowed a bit in recent years folks still find Portland to be a compelling place to live and work with nearly 600 people moving here every week. This gives companies an incredible pool of talent from which to draw, a pool that is increasingly becoming younger and more educated. Fifty percent of the labor pool holds degrees in science and engineering fields compared to only 40 percent nationwide.

It’s not hard to see why Portland attracts young professionals with an abundance of quirky culture throughout the city and diverse and beautiful natural elements just outside. Wages are slightly lower than in bigger cities such as New York or San Francisco but, even with some rising prices, the lower cost of living easily compensates.

Starting a Business in Portland?

While Portland does have its behemoth’s such as Nike, Adidas, and Intel, it’s small business that really keep the city running. This is one of the many reasons why new businesses are steadily moving to the Portland metro area. For the retail industry, Oregon’s lack of sales tax is a huge boon. Consumers from neighboring states often come to Portland just to shop. And there are other incentives for entrepreneurship, including property tax abatement, tax subtractions, and other loans, credits, and programs.

With Portland’s lower operating costs embarking on a startup can be less risky than in other cities while still having plenty of resources to draw from. Many incentives exist to bring business to low income communities which has spurred the revitalization of now bustling neighborhoods such as the Mississippi and Alberta Arts districts.

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