IBA, as the premier business brokerage firm in the Pacific Northwest, is firmly established as a respected professional service firm in the legal, accounting, banking, mergers & acquisitions, real estate, and financial planning communities.  Periodically, we will post guest blogs from professionals with knowledge to share for the good of owners of privately held companies & family owned businesses. The following blog article has been provided by Lauren Iaquinta of Cascade Hasson Sothebuy’s International Realty (https://www.cascadehasson.com/):

Why the Portland Metropolitan Area is a Community to Call Home

Portland’s biggest advantages are its lifestyle appeal and housing prices. When compared with other metropolitan cities on the West Coast, affordability in Portland, and surrounding cities, is significantly lower than Seattle, San Francisco, or Los Angeles. We are surrounded by greenery, Portland has over 10,000 acres of parks, including Forest Park, which looks out over the city and is responsible for 5,000 of those acres. A one-hour drive gets you to the beautiful Oregon Coast, Mt. Hood for some amazing skiing, The Columbia River Gorge with world-class windsurfing, or Willamette Valley with award-winning wineries. If you’re a golfer, the golf in the area is unbelievable. While it might be a little rainy in the winter, one thing I love about Portland is being able to play almost all year round (if you don’t mind being a little cold and/or damp). It’s never a bad time to visit Bend, Oregon, which is about 3 hours east of Portland, and the iconic Bandon Dunes golf experience is only a 4-hour drive away.

Portland has long been known for its entrepreneurial spirit. With a strong focus on sustainability, technology, food and beverage, and creative industries, the city provides fertile ground for start-ups and established businesses. The community values collaboration, and local organizations actively support small business growth through networking, resources, and funding programs. For business owners, that means access to a workforce that values innovation, sustainability, and community – a perfect match for companies looking to grow.

Oregon was ranked number two in the country for best state for startups, according to Entrepreneur magazine (www.entrepreneur.com/business-news/these-are-the-10-best-states-to-start-a-business-startup/489249).  Oregon also has the highest 10-year survival rate for startup companies (https://business.booking.com/en-us/business-travel-resources/articles/best-us-startup-states/).

COBID (Certification Office for Business Inclusion and Diversity) program support – The city of Portland’s Subcontractor Equity Plan targets 20% of hard construction costs to COBID subcontractors, including a portion of disadvantaged, minority, or women-owned businesses. This plan targets projects valued at $150,000 or more. By registering with the city, you will receive notifications about upcoming projects to submit bids.

For real estate investors, Portland’s federally designated Opportunity Zones open the door to exciting possibilities. These areas allow investors to reinvest capital gains into projects that not only offer long-term financial benefits, but also help revitalize local neighborhoods. With mixed-use developments, housing, and commercial spaces on the rise, Opportunity Zones in Portland are attracting interest from those who want to grow their portfolio while making a positive community impact (https://www.portland.gov/phb/opportunity-mapping).

Small business resources and grants – Portland wants to support its small businesses. There are many nonprofit services to assist small business owners, such as MESO (Micro Enterprise Services of Oregon), which helps lead owners to grants, education, and offers credit-building loans. St. Johns Center for Opportunity, Venture Portland, and OAME also provide support. Visit the Prosper Portland grants page for an overview of currently available grant programs.

Bonus: Tax Advantages Just Across the River – Vancouver, Washington

And if you’re looking for a tax advantage, wait until you hear about Vancouver, Washington—just 8 miles from downtown Portland. Many business owners and residents choose to live and work in Vancouver to take advantage of Washington’s no state income tax, while still enjoying the amenities Portland offers. While doing business in both states will come with some income tax paid to Oregon on the business done in Oregon, owning a business in Washington will put more money in your pocket (please talk to your CPA about specifics). Pair that with Oregon’s lack of sales tax, and you have a unique metro area where business owners can strategically structure their lifestyle and operations to maximize financial benefits. A few years ago, I made the move over to Washington, currently work in both Vancouver and Portland, and I am very happy I did so. The downtown area has expanded so much and is becoming its own stand-alone destination spot. The waterfront has about a dozen restaurants and local Washington/Oregon wineries, so you can get a taste of the Pacific NW wine selection. I would also like to mention the housing costs, and property taxes, are also currently lower than Portland.

UPCOMING PROJECTS AND EXPANSION –

The airport – The airport has been under construction for years and will be completed this year. They have been in talks about adding another long runway to expand their flight routes to more international destinations, such as easier access to Asia, New Zealand, and more direct routes to Europe.

I-5 Bridge reconstruction – I can’t say that Oregon has it all figured out. For years, the I-5 Bridge has needed a complete overhaul, as it is not earthquake resistant, and not as efficient as it could be. The budget for roads and bridges not being Portland’s biggest priority has started to catch up, and traffic has become worse over the years. There is a task force in place to start on the I-5 project. See this website for more info: www.interstatebridge.org/

Six-mile green loop pathway – Portland is Bridge City with 12 bridges within its city limits, and 10 bridges connecting the east and west sides of the city, one of them being a walking bridge. This pathway is said to be finished by the end of 2025 and will be a 6-mile linear park through the east and west sides.

We recently acquired a WNBA team – Portland Fire, which will begin playing in 2026.

Vancouver – A Pike Place-type year-round market right along the Columbia River.

Okay, I could go on forever, so I’m going to leave you with this. I have lived all over this country, from the Northeast in New Hampshire and New York, to Utah, to Seattle, and even did a half-year stint in Europe, and I keep coming back to this place. Both Portland and Vancouver offer a rare balance of lifestyle and opportunity, making them an excellent place to live and pursue an entrepreneurial career path. With growth on the horizon, supportive communities, and a steady flow of talent, it’s hard to find a better environment to put down roots and build something lasting.

If you have questions relating to the content of this article or buying residential real estate in the Portland metropolitan area, Lauren Iaquinta of Cascade Hasson Sotheby’s International Realty would welcome the opportunity to answer them.  Ms. Iaquinta can be reached at (503) 602-9834 or lauren@listedwithlauren.com.

IBA, the Pacific Northwest’s premier business brokerage firm since 1975, is available as an information resource to the media, business brokerage, mergers & acquisitions, and real estate communities on subjects relevant to the purchase & sale of privately held companies and family owned businesses.  IBA is recognized as one of the best business brokerage firms in the nation based on its long track record of successfully negotiating “win-win” business sale transactions in environments of full disclosure employing “best practices”.