Portland OR one of top US cities for job growth- Good for apartment building investments

Portland’s recovery in jobs driven by the return of tech and the lure of its funky coolness (see Portlandia) is noted in Kiplinger’s slide show on the 8 Cities with Surprising Job Growth where they’re expecting 130,000 new jobs in the next five years:

Portland to add 130,000 jobs- good for apartment building investment

“After devastating job losses in the recession, Portland has made a spectacular recovery, fueled by the tech mini-boom and the area’s attractiveness to young people. Anchored by Intel and its 16,000 employees, Portland will maintain its moniker as the Silicon Forest for its more than 1,200 high-tech firms, most of them small to medium-size.

High tech will continue to be the fastest-growing sector, but other major job gains will come in sportswear. The presence of Nike, Adidas and Columbia Sportswear has spawned many smaller sportswear-related firms that are hiring designers, marketers and salespeople. The industry has also given rise to a vibrant graphic design sector. Portland, the third-largest seaport on the West Coast, will also continue to grow as a major transportation and shipping center.”

My niece who is a web marketing wizard moved there from LA and has everything she needs locally to grow her business including lots of new clients.

Since job growth is one of the major drivers of apartment building demand and PDX isn’t one of the ‘Fab Five’ coastal cities prices are lower than in The Rose City’s bigger sisters. In fact we just started due diligence on a property there. If Portland sounds like an apartment market you would like to participate in shoot me an email.

Hat tip: JBIRE

 

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