Phone: 503-823-PLAY (7529)
1120 SW Fifth Ave., Suite 1302, Portland, OR 97204
Request for Expressions of Interest
Businesses, non-profit organizations, and individuals are invited to form public-private agreements to carry out revenue-generating and capital-related activities supporting Portland International Raceway's goal to provide a "World Class Racetrack." The intrinsic value of what PIR offers potential partners is greatly enhanced by the large numbers of visitors it attracts that have an affinity for motor sports, cycling, and related recreational activities. PIR holds approximately 650 events per year and attracts over 400,000 visitors annually. For more information on PIR, go to Portland International Raceway.
This Request for Expressions of Interest creates a competitive environment in which to establish new agreements for these projects. Expressions of Interest for projects at Portland International Raceway will be received on an ongoing basis.
PIR has prioritized the following projects:
Other capital improvements or services that enhance the visitor experience will also be considered.
Please review the details of the project(s), then submit your PIR Expression of Interest using the online form.
The relevant economy that impacts PIR is the Portland-Vancouver-Beaverton metropolitan statistical area (MSA). It consists of seven counties. Five are in Oregon: Clackamas, Columbia, Multnomah, Washington, and Yamhill - and two are in Washington state: Clark and Skamania. A survey conducted by ECONorthwest in November 2005 revealed that about 72% of the visitors to PIR come from the MSA, of which only 22% are from Portland itself. For this reason, the economic outlook for the MSA best indicates the prospects for the proposed projects.
There are currently 829,870 households residing in the MSA. About a third have incomes that are between lower middle-income to poor. Another third are middle-income earning between $40,000 and $70,000 a year. The remaining one-third of households are upper middle-income to affluent and make over $70,000 a year.
The forecast suggests that this region will see substantial gains in the number of new households, particularly outside of the City, in conjunction with real income growth. Both of these elements are particularly favorable for the developments at PIR.
Within the next five years the number of households will increase by 57,870. Less than 24% of that growth will occur in Multnomah County. More importantly for the amenities proposed for PIR, household growth will be concentrated in the upper income ranks. While the number of lower income households is projected to fall by 8,621 between 2007 and 2012, the number earning over $70,000 a year is projected to climb by 57,870. Although some of the predicted increase would be driven by inflation, most is expected to arise from real wage and income gains.
For more information, review the PIR Economic Impact Analysis.
Todd Lofgren, Property & Acquistion Manager