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GPI heads to Bay Area to promote Greater Portland as investment location

September 26,2018 | By Anna Marum

As startups, enterprises and talent in Silicon Valley flee the area’s exorbitant housing prices and nightmarish traffic, Greater Portland Inc is heading to the Bay Area to tout the many advantages our region offers without the headaches of the valley.
 
Representatives from GPI, Business Oregon and the City of Hillsboro will be in the Bay Area from Sept. 26-28. There, they will meet with multiple companies considering an investment in the Portland region, including a biotech company, an advanced computing company and a battery technology firm.
 
Our region has long proven an advantageous expansion location for California companies looking to move or open a second office. Coinbase, Expensify, Salesforce, Airbnb, SurveyMonkey, Autodesk, Jive, Aruba Networks, Mercari, New Relic, Intel, Apple, Yahoo, Google and eBay have all made significant investments in our region. 
 
Greater Portland has never looked better to our southern neighbors. According to real estate site Trulia, San Francisco’s average price per square foot is nearly quadruple Portland’s. And a 2017 study by transportation analytics company Inrix found that Bay Area residents spent nearly 30 hours more a year in congestion than Portlanders.
 
These challenges have pushed residents and companies to look elsewhere. According to data from real estate website Redfin, in the second quarter of 2018, San Francisco lost more residents to outward migration than any other city in the country. Meanwhile, Portland was No. 5 for net resident inflow. The top origin of these new residents? San Francisco. This shows that our region continues to attract an outsize number of young, educated workers.
 
“Greater Portland offers growth potential for companies looking to scale, from both a talent availability and West Coast affordability standpoint,” said GPI President and CEO Janet LaBar. “A strong ecosystem exists to support emerging and established firms that want to expand. From workforce development and higher education partners, to infrastructure readiness and government willingness—plus business peers ready to share their experience, Greater Portland is ready to welcome companies to our region.”
 
Of the roughly 50 companies currently in conversations with Greater Portland Inc about investing in our region, about a third are based in California. 
 
The team from Greater Portland will also be meeting with location advisory consultants and representatives from the German American Chamber of Commerce.
 
Photo via Wikimedia Commmons

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