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Economic slowdown settles into town

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Portland Tribune website screenshotLand-use and building permits show dramatic drop-off

Although Portland escaped the worst of the credit crisis for much of the past few years, the bad economy is catching up to the city with a vengeance.

One barometer: Applications for new commercial and residential projects in the city have dropped dramatically in the past few months, potentially signaling a long construction slump.

Commissioner Randy Leonard believes the construction slowdown will ripple through the region’s economy and increase unemployment.

“It’s like when you pull a loose thread on a sweater and it just unravels,” said Leonard, who oversees the city’s Bureau of Development Services, which issues the permits. [Read full article]

 

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Spam Prevention In the Pacific Northwest, what state is Portland in?