Portland made significant strides last year, with local and state governments working together with the business community to deliver results on livability issues through the Governor’s Portland Central City Task Force. As conditions stabilized in 2024, attention began to shift from crisis management to the longterm economic outlook of our region—where major challenges remain.

The region lost jobs last year while the national labor market grew substantially –a rarity for Portland during an economic expansion–and the losses were concentrated in high-paying sectors like information, manufacturing, professional services, and financial services. Population loss has continued, as small natural increases (more births than deaths) were offset by out-migration. The housing crisis persisted, with production remaining sluggish, and outside investors viewed the region unfavorably.

Despite the region’s stunning natural amenities, people have been “voting with their feet” against the Portland area. High housing costs are a primary factor, but the contrasting growth patterns between Oregon and Washington strongly suggest that taxes and public services are also playing an outsized role. Through the task force’s work, civic leaders proved they could identify problems and deliver results. Now, a new set of challenges awaits their focus.