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Press Release

Regional recruitment efforts by GPI and partners brought 596 jobs to Greater Portland in 2018

December 20,2018 | By Anna Marum
FOR IMMEDIATE RELEASE
December 20, 2018
 
Media Contact
Anna Marum
Greater Portland Inc
anna.marum@greaterportlandinc.com
360-442-8637
 
Regional recruitment efforts by GPI and partners brought 596 jobs to Greater Portland

2018 marked the best year in GPI’s 7-year history
 

PORTLAND, OR -- 2018 marked a banner year for Greater Portland Inc and for the region. Business recruitment efforts by GPI and its partners resulted in 596 direct jobs and more than $100 million in capital investment.

In terms of job creation, 2018 has been GPI's most successful in its 7-year history. Based on projections, these new jobs will result in $33.6 million in additional income in the region, in addition to $40.4 million in income from 778 indirect jobs. The majority of GPI’s 2018 projects will provide family- and high-wage jobs that will require college degrees or vocational training.

“We’re proud to work with partners across our region to yield these results and stimulate economic growth,” said Janet LaBar, GPI’s chief executive. “The regional business recruitment process is targeted, intentional and can take as long as two years, and announcing wins isn’t always the end product. What we know is that regional collaboration will attract more investment to Greater Portland, improve regional competitiveness and keep us accountable in advancing an economy that works for everyone.”

As a nonprofit funded by investments from the public and private sectors, GPI works to serve the region as efficiently as possible. Cumulatively, over the past four years, for every $1 invested in GPI, $24.26 of income has been generated in the market.

Notable companies GPI assisted in bringing to the region in 2018:
  • Coinbase -- 100 jobs
    The San Francisco-based cryptocurrency platform will soon employ 100 customer support, finance, compliance, IT and HR workers in Portland.
  • Element Six -- 60 jobs
    This subsidiary of UK-based De Beers Group is building a $94-million advanced manufacturing facility in Gresham, where workers will create synthetic diamonds for De Beers’ new Lightbox Jewelry line.
  • Genentech -- 300 jobs
    Biotechnology company Genentech, part of Swiss firm Roche Holding AG, is opening a customer support center in Portland’s Lloyd Center. The investment represents a significant regional expansion for the South San Francisco company, which employs hundreds in Hillsboro.
Trends:

1. Foreign direct investment remains steady in our region. Foreign companies represented 29 percent of our 2018 project pipeline, steady from 30 percent in 2017. Foreign direct investment accounted for 400 of the total jobs GPI and partners brought to the region in 2018, or 67 percent.



2. Software, manufacturing and health insurance made up the bulk of our recruitment wins in 2018. GPI expects software to remain a strong industry for new business growth in Greater Portland, and companies on the West Coast will look to the region to scale back office operations.



3. GPI expects the region to remain attractive for manufacturing projects, though the supply of shovel-ready land is dwindling. 

“Despite signs that the market is slowing down, we are confident that 2019 will be a strong year for economic development in our region,” LaBar said. “With its unmatched livability, Greater Portland continues to attract top talent across industry sectors, which in turn attracts employers from throughout the country and the world. These strengths were apparent in 2018: Our region had an outstanding year for attracting venture capital and foreign direct investment.”
 


About Greater Portland Inc: Greater Portland Inc provides support and services to companies seeking to relocate or expand in Greater Portland, a region that spans two states and seven counties. A true public-private partnership model, Greater Portland Inc is supported by more than 70 public-sector partners and private investors who are committed to advancing regional economic development through job growth and investment. Greater Portland Inc and partners shape the region’s economic future and market the region to the world. Learn more at greaterportlandinc.com.
 
 

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