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Portland Economic Trends

Decent Essays
The City of Portland also suffers from a lack of reasonable pricing in neighborhoods that are close-in, hence resulting in displacement, gentrification and centralization of poverty in the East, Northeast and North Portland.
Previously, the City of Portland suffered from insufficient coordination and strategic focus; the diverse initiatives, programs, public partners and assistance providers have not been working hand in hand to attain the goals set by strategic plans. This has resulted to poor coordination and fragmentation which in turn has caused the duplication of some primary services and visible gaps in more tailored or developed technical assistance.
Broader Economic Trends to be considered in Determining the Likelihood of Success
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Partnering with private sectors and higher education is of utmost importance to the success of an economic development plan.
The City of Portland must also implement policies and actions that increase the vitality and growth of the major districts in the region. This is because economic growth tends to happen in these regional districts that include; commercial centers, universities and hospitals, the Portland harbor, industrial districts and more importantly, the Central City. Investments, programs and policies are a continuous requirement for the maintenance and growth of the City’s economy, major districts and different economic sectors.
Setting targets is a long – term economic trend that creates a benchmark to keep track of the performance over a certain period of time. The rate at which individuals capture jobs and grow can be used to factor in regional, state and national economic cycles. These long – term economic trends help in the growth of the economy that will support the Portlanders of tomorrow as well as those of
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In the year 2008 alone, Portland made exports worth Twenty Two Billion dollars ($22 billion) both in services and goods; hence it ranked the twelfth (12th) amidst one hundred (100) large areas. Portland aims at being ranked the tenth (10th) or better by the year 2035. (Portland Economic Development plan, 2014)
Businesses in the traded sector have the principal role of expanding and driving Portland’s economy. For the City of Portland to survive and grow, it has to remain competitive in the region even as the global marketplace keeps on changing. Companies in the traded sector that are in the same industries tend to focus on regions where they feel that are at an advantage in terms of competitiveness. This is referred to industry clusters. This provides access to specialized suppliers and services, experienced and skilled workforce, and a good knowledge base in the industry.
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