Remember when we used the term “green shoots” in 2009 to describe the budding good things going on in our economy, coming out of the Great Recession?  It was meant to describe early indicators of overall improvement.  And I say it now; Oregon has lots of green shoots.  Not just because it is early spring outside, and yes, I know March 20th is the first calendar day of spring.  But the mason bees, popping flowers, and occasional mosquito say otherwise.

I’ve lived in Oregon my whole life and one thing we do well is celebrate the good times and alas, bemoan the bad times.  Our economy is weak and floundering right now.  Our population is shrinking because people are leaving. Our city center buildings stand empty, and no companies are moving here, quite the opposite; they are leaving in droves.  And our schools are struggling to keep up.

Gray skies, which we are used to.  A gloomy future.  Woe is me. It all seems bad.

In my opinion, there are many reasons for this.

Our public sector still hasn’t learned it can’t spend with wonton abandon. We don’t have a revenue problem, never have in this state, we have a spending problem.  Our public sector is addicted to spending and in the private sector equivalent, we are living well beyond our means.  As always, rather than looking in the mirror, we pretend we need more money and propose raising taxes and fees to fill the gap in irresponsible spending.  Grow up guys, that is a broken record.

And don’t point the finger at the Democrats who are in charge, Republicans are just as bad at balancing a budget and spending within their means.  Did you know, 46% of the voters in Oregon are unaffiliated and that 85% of those registering to vote at the DMV are choosing to be unaffiliated?  I’m not the only one tired of political parties and partisan politics.  Matter of fact most of us are. Only 31% of the voters in Oregon are democrats and 22% are Republicans.

Oregon has long had a general “business bad” mentality.  I’ve traveled to many municipalities and heard from many governments where their business and personal taxes are high, and their economic environment is challenging.  But businesses aren’t leaving those places.  Why?  Because their business sector feels valued, heard, and respected.  Quite the opposite in Portland, and Oregon overall, where our business sector is repeatedly attacked as the culprit in a poorly written play.

The permitting and project approval bureaucracy in Portland is overwhelming, extremely expensive, and incredibly broken.  Have you noticed there are no cranes in Portland?  Currently there are no shovels in the ground for multi-family housing.  Does that shock you?  It should, considering the cost of housing and the desperate need to build housing across the spectrum from affordable to market rate.  But the bureaucracy of the City and County impedes builders and developers at every step of the way.

We have also always been the caboose on the economic train.  In my experience, Oregon often trails in recoveries and in declines.  I’m not sure why that is, and maybe it isn’t always true.  But it doesn’t surprise me that Oregon is lagging the country through the pandemic recovery.

But hear this loud and clear, there are many green shoots in our area and great things are happening.  What is required of us in this very moment is to rally around those positive projects which represent a turn, inspire hope, and bring vitality.

Take for instance the Moda Center redevelopment.  Whether you love basketball or not, whether you think pro sports should be embraced by their community or not.  The Trail Blazers represent Portland and are part of the fabric of Oregon.  But more than that, the Moda Center is the only large-scale arena in the State of Oregon and brings millions of people into our metro region and state to watch events, which in turn brings millions of dollars into our economy.

The Diamond Project is an effort to bring professional baseball to Portland and to Oregon.  I don’t watch baseball, but I also know a project of that size would have a meaningful impact on the economy and ethos of our region, bringing jobs and revenue to all kinds of sectors and businesses.

The OMSI District is an amazing project covering over 20 acres to be redeveloped into a vibrant district that will be a hub of innovation, arts and culture, transforming a critical part of the Portland waterfront.  This project brings jobs and revenue to the city and local small businesses, creating yet another reason for locals and tourists alike to visit our amazing city.

The Lloyd Eco District redevelopment will completely transform the Lloyd Center mall into a walkable neighborhood that prioritizes people and the environment.  It will be a mix of parks, homes, and street level retail, completely redefining the entire area around it.

Albina Vision Trust is the largest community reclamation project of its kind in the country, seeking to transform underdeveloped and underutilized land from the Willamette River to the Moda Center.  This project would transform the entire area into a vibrant, wonderful space.  Think of this in conjunction with the Lloyd redevelopment and Moda Center, reshaping an entire inner east side region of our city!

We are about food in Portland, and in my opinion, we don’t lean on it enough or toot our horns as loud as we should.  Portland, by far, has the best food scene in the country, hands down.  The James Beard Public Market coming later in 2026 or early 2027 is a transformative project that cements Portland as a foodie destination and hub of innovation and frankly, good tastes.

And this is just touching the surface!! 

I’ll admit we have had a rough run since 2020; it hasn’t been easy.  But it is time to stop with the nay saying and downer viewpoint.  It is time to stop thinking about how bad things are and instead think about how good things are going to be.  The green shoots are everywhere.  All one must do is look for them.

We are Oregonians.  We are proud.  And our time to make change is now!

And please, always keep in mind, Portland is the cheapest large city to live in on the west coast.  It is a beautiful city that people love to visit and travel to.  We have amazing access to the outdoors and nature.  Our public parks are the envy of the country.  And damn it, Oregonians are nice people. Please don’t make me shout that fact at you.

Portland is our city, and most importantly, it is Oregon’s city, and we should all be proud of it and rally around the positive change and an evolving future we see blooming all around us.

My two cents or twenty, as you see fit.

About TenBridge Partners

TenBridge Partners is an independent financial planning and investment management firm based in Portland, Oregon with a simple focus of honoring the fiduciary responsibility of putting clients first. Guiding with curiosity and trusted expertise, we empower people to live their unique story with financial clarity and confidence.

Planning is central to everything we do. Our focus is on a complete understanding of your needs through the financial planning process, putting your success at the heart of our work.

We strive to create a community where financial planning feels fun, dynamic, and human.

From the desk of
Erik Lawrence CFP®

The information contained in this correspondence is intended for general educational purposes only and as a means for facilitating a conversation.  Please consider our door always open to discuss your particular situation and how this information might benefit you and fit your specific needs.