Stay informed about business news and updates in Portland, OR.
A new report reveals that events aimed at boosting downtown visits and tourism in Portland have shown positive results. The findings from the Portland Metro Chamber indicate that foot traffic has increased significantly from Memorial Day through Labor Day, showcasing a recovery in the local economy.
Nike Inc. has appointed Elliott Hill as its new president and CEO, succeeding John Donahoe, who is set to retire next month. Hill, who is returning to the company, faces significant challenges, including a decline in revenue and stock performance.
John Donahoe will retire as CEO of Nike on October 13, 2024, with Elliott Hill taking over the role the following day. Hill, a former president of consumer and marketplace at Nike, is expected to lead the company into its next growth phase, as noted by executive chairman Mark Parker. The leadership transition comes after a challenging year for Nike, including workforce layoffs and a significant drop in stock price.
The historic Gordon's Fireplace Shop building in Northeast Portland is set to be auctioned on September 30, with a minimum bid of $500,000. However, the auction process may be paused if the property owners file for bankruptcy. The building has faced significant issues, including code enforcement violations and vacancy since 2016.
Governor Tina Kotek has announced that Portland, Oregon, will be awarded the Women’s National Basketball Association's (WNBA) 15th franchise, bringing a new professional sports team to the city. This expansion is set to enhance the local sports landscape and promote women's sports in the region.
The 1927 S’mores Company in downtown Portland has abruptly closed, leaving several customers, particularly brides, unable to retrieve their deposits. A company letter informed clients of the closure, causing distress among those who had made arrangements for upcoming events.
A developmentally delayed woman was kidnapped and assaulted in Southeast Portland, leading to a suspect's arrest. This incident highlights ongoing concerns about safety and crime in the area, particularly affecting vulnerable populations.
Mt. Bachelor has closed its operations due to the imminent threat of wildfires in the area. Local authorities are taking precautionary measures to ensure the safety of residents and visitors amidst the ongoing wildfire season.
For Bitter For Worse, a Portland-based distillery specializing in non-alcoholic beverages, is set to compete in the 2024 Grow-NY International Business Competition on November 6 and 7 in New York. Founders Shelley Elkovich and Jeff Heglie aim to secure up to $1 million in funding to expand their innovative product line. This competition represents a significant opportunity for the startup to gain national recognition and support.
Portland City Council unanimously passed over 80 updates to the zoning code, aimed at boosting housing production and supporting small home-based businesses. Commissioner Carmen Rubio emphasized the importance of clear regulations in responding to the housing emergency and economic challenges. The amendments provide flexibility for home businesses and align local zoning with state rules.