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1. Regional
Business Plan gets update for 2008
The next update of the Regional Business Plan is currently
underway. Task forces for each initiative - education/workforce,
freight mobility, land use and economic development
- will update the plan to include progress made on existing
initiatives, as well as the development of new initiatives
for the coming year.
A regional forum will be held early in 2008 to present
accomplishments from the 2007 Plan and the focus for
2008. Please stay tuned for more details on this important
regional event.
TRANSPORTATION/FREIGHT MOBILITY
2. I-5 named
"corridor of the future"
The United States Department of Transportation announced
last month that I-5 has been named a "corridor of the
future." The designation is part of the National Strategy
to Reduce Congestion. I-5 is one of six such corridors
named as part of this new federal initiative out of
36 applications.
The initiative is aimed at developing innovative efforts
to implement multimodal transportation solutions to
reduce congestion and improve freight efficiency. The
six designated corridors carry 22.7 percent of the nation's
daily interstate travel.
This designation should make it easier to compete for
federal funds for projects in the corridor, such as
the Columbia River Crossing.
3. Regional
Transportation Plan looks to the future
Metro is currently updating the regional transportation
plan (RTP), and will be hosting a series of open houses
for public review in the next few weeks. The plan update
looks ahead from now through 2035. This update aims
to build on the region's current efforts to sustain
a healthy economy, protect the environment and foster
vibrant communities.
A discussion draft 2035 RTP was released on October
15 for a 30-day public comment period that also includes
public hearings and open houses. This phase also includes
an air quality analysis of the recommended 2035 RTP,
consultation with federal regulatory agencies and documenting
that the plan meets federal planning requirements.
The final RTP will address regional, state and federal
planning requirements, issues identified in the 2005
Cost of Congestion Study and recommendations from two
concurrent processes to plan for freight and goods movement
in the region and efficient management of the existing
regional transportation system.
Visit the Web
site for the update, which includes the dates and
locations of the public open houses on this topic.
ECONOMIC DEVELOPMENT
4. Greenlight
Greater Portland welcomes new CEO
 Greenlight
Greater Portland, a primarily private-sector group devoted
to promoting the economic vitality of the greater Portland
region, hired its first fulltime chief executive officer
last month. Tim Priest, former executive director of
the Greater Washington Initiative [District of Columbia],
will define strategies for attracting national and international
companies to greater Portland's four-county metropolitan
area.
Priest comes to Portland after nearly a decade of experience
with GWI. In his first year in that role, he oversaw
the recruitment of 28 companies whose economic impact
was calculated at $350 million. Priest will assume full-time
responsibilities, which will include overseeing a staff
of recruiters and guiding Greenlight's global marketing
efforts.
To find out more about Greenlight Greater Portland,
visit www.greenlightgreaterportland.com.
5. Region
sees tourist boom
Tourism in the Portland region is booming, with more
and more tourists making the rose city a destination
each year. More than seven million tourists visited
the Portland area in 2006, according to a new study
by Travel Oregon. The Oregonian reports that this is
an increase of 500,000 from 2004, with visitors bringing
in $136 million in state and local taxes last year.
Travel spending in the Portland area was up 7.2 percent
in 2006, to $3.4 billion, according to a study conducted
for the Portland Oregon Visitors Association. Last year
marks the third consecutive year of growth exceeding
7 percent. Read the full article here.
6. Manufacturing
industry grows in the region
A recent article in the Portland Business Journal
cites new federal data showing that manufacturing is
now responsible for 24.9 percent of the Portland-area
economy. The U.S. Department of Commerce's Bureau of
Economic Analysis found that manufacturing was a $22.7
billion business in the Portland area in 2005, up almost
90 percent from four years earlier.
Experts attribute the growth to the expansion of metals
manufacturers in the region, such as Schnitzer Steel
and Precision Castparts. According to the Journal,
Precision Castparts has doubled in size in recent years.
More
>>
7. nLIGHT
ranked fastest growing tech company in Washington
Vancouver company nLIGHT was named the fastest
growing technology company in Washington in the 2007
Deloitte & Touche USA LLP's Technology Fast 50 program.
The award is part of the Washington State Technology
Fast 50 program, which ranks the 50 fastest growing
technology, media, telecommunication and life sciences
companies headquartered in Washington.
With a revenue growth of more than 9,232 percent, nLIGHT
earned the honor of being the fastest growing technology
company in the state. nLIGHT designs and manufactures
industry leading high-power semiconductor lasers, and
tailored integrated solutions.
According to the Technology Fast 50 companies list,
the overall revenue growth average from 2003-2006 was
748 percent in Washington. To qualify for the Technology
Fast 50, companies must have had operating revenues
of at least $50,000 in 2002 and $5,000,000 in 2006,
be headquartered in North America, and be a company
that owns proprietary technology or proprietary intellectual
property that contributes to a significant portion of
the company's operating revenues; or devotes a significant
proportion of revenues to the research and development
of technology.
LAND USE
8. Coalition
assesses industrial spaces for redevelopment
In an effort to assess Portland's industrial sanctuary,
a coalition of organizations including the Portland
Development Commission, Metro, the City's Bureau of
Planning and Environmental Services and others, engaged
the National Brownfields Association to analyze 400
non-contiguous acres.
The team of experts provided their insight and recommendations
about current vacant or under-utilized property in Portland's
industrially zoned areas. The study area is along the
Portland Harbor and is impacted by contaminates found
in soil, river bottom sediments, and groundwater from
past industrial operations according to the report.
The work was completed through the Site Technical Assistance
for a Municipal Project (STAMP). The PDC announced earlier
this month the formation of a Blue Ribbon Committee
to review the recommendations in STAMP's report.
The STAMP team presented their findings at a meeting
in Portland on Wednesday, October 3. Read
the full report >>
EDUCATION
9. Washington
Governor announces first Innovation Partnership Zones
Earlier this month, Washington Governor Chris Gregoire
announced the designation of 11 Innovation Partnership
Zones in Washington, geographic areas that will promote
and develop the state's regional economies. Innovation
Partnership Zones build on the success around the world
of "research parks" and bring together research and
higher education opportunities, innovation and economic
activity to be a strong engine for regional economies.
This designation includes the Columbia River Economic
Development Council's Discovery Corridor Innovation
Zone/Steinmueller Innovation Park, a research facility
for semiconductor and micro-device design, IC manufacturing
and processing, display technology and multimedia.
This designation complements the recent legislative
funding for expansion of Washington State University-Vancouver
into electrical engineering. The school's goal is to
develop into a premier research university focused on
scientific disciplines that support the semiconducting
materials and electronic device competencies of the
region's businesses. Other goals are to develop shared
laboratory facilities to incubate private sector innovations
and to advance the skills of the technology manufacturing
workforce.
The Center is the result of collaboration of economic
development, workforce development, and education entities
and private industry. The partners have worked closely
over the last six years to support the growth of the
technology sector in Southwest Washington.
For more information about the research center, click
here.
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