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Economic Report: Portland, Bend Outperforming Many Cities Nationwide

Both the Portland and Bend metro areas ranked high in an economic report out Tuesday.

The non-partisan Milken Institute placed the Portland area eighth nationwide for best-performing large cities.The Bend-Redmond area also ranked eighth among smaller cities in the U.S. The institute ranks cities based on factors such as job creation and wage increases.

Minoli Ratnatunga, a research economist with the Milken Institute, said the Oregon cities seem to be increasingly attractive to the technology sector. 

“We think the increasing costs in some of the hot, high-tech cities are driving some high-tech employers to seek lower cost alternatives,” Ratnatunga said. “And because wages and office space and electricity costs are more reasonable in the Portland area, for example, we expect to see increasing growth there.”

Both the Portland and Bend areas jumped significantly from last year’s rankings in the annual index. 

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