Objective 1
Propel Inclusive Economic Growth and Innovation
FINDINGS
Traded sector industry clusters produce goods and services that generate sales outside of the region. That brings new income to the area and grows the regional economy. Workers in traded sectors tend to be better educated, work more hours, and earn higher average wages than local sector businesses. The actions in this objective focus on inclusive economic growth through competitive industries to create quality jobs, increase gross regional product, and grow demand for local sector businesses.
Clusters increase productivity in an economy by connecting the workforce to high-quality jobs, fostering continual innovation, and connecting businesses, suppliers, and workers with industry-specific infrastructure. The five priority industry clusters – Athletic & Outdoor, Green Cities, Food & Beverage Manufacturing, Metals & Machinery, and Software & Media – show economic strength and competitiveness in Portland. They also have the potential for future growth and opportunities to leverage inclusion and climate action goals.
Implementation
Partners
Business Chambers & Association Partners
City of Portland & Prosper Portland
Industry Trade Organization
Climate Action & Innovation Center Partners
Higher Education Institutions
Regional & State Partners
Workforce Development Partners
Outcomes and Actions
ONE
Invest in Traded Sector Cluster Industries in which Portland Has Competitive Advantage to Increase Access to Quality Jobs and Business Growth
1
Refine and deliver on updated cluster action plans
2
Establish Food & Beverage manufacturing action plan
3
Enhance public-private collaboration
4
Create cluster-specific export and Foreign Direct Investment priorities
Two
Develop Industry-Specific Innovation Strategies to Support Growth of Green Products and Services
1
Launch Clean Industry Initiative
2
Increase commercialization of research and development
3
Engage Green Cities companies and partners in a Materials Innovation Initiative
4
Apply an inclusive economic growth grounding to climate policy
THREE
Address Barriers to Growth, Inclusion, or Innovation in Competitive Industries
1
Build relationships with corporate leadership
2
Identify barriers to inclusive business growth
3
Address challenges to workforce training, retention, and recruitment
4
Implement targeted scale-up capital and technical support
