Cluster strategy central to future economic development in Portland, Oregon (U.S.)

admin — Tue, 17 Nov 2009 01:36:41 +0000

Last month, the City of Portland presented its five year economic development strategy with the ambitious goal of creating 10,000 new jobs in the city in the next five years. This aggressive objective has been gaining some questions in the local media, but is probably a welcomed addition to an economy that has been hit hard, losing more than 44,000 jobs over the past 12 months according to the strategy document.

The cluster strategy will be implemented by The Portland Development Commission (PDC), and the plan outlines four industries that will serve as the city’s target clusters:

Although some of he local media has questioned the absence of life science as the fifth cluster, the PDC has in our opinion a very sound reasoning, basing the selection of the four cluster focus industries based on what industries are already thriving and have a critical mass in the region. Granted the analysis behind this is correct, the PDC is probably facing a favorable situation as they are building their clusters upon the existing strengths and momentum of the local industry. Although life science is attractive and trendy, we are glad to see that the PDC is taking a activation rather creation approach to its cluster development strategy.

A quick read through the development strategy document shows that PDC may still have some work to do with regards to funding of the effort. Also, although the document briefly touches upon a strategy for how these cluster will be developed, there is a far step from an economic development plan based on labour and financial data to a successful and realistic cluster development plan. We will stay tuned.

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Cluster strategy central to future economic development in Portland, Oregon (U.S.)