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|Articles - April 2011|
|Tuesday, March 22, 2011|
Page 1 of 8
BY BEN JACKLET
Wilson Chen looks out the window of Suite 820 of the Portland skyscraper his company owns and smiles. “This was the first big deal that we had in the U.S.,” he says. “It was an unforgettable event for us. We put a lot of money into this building. We are taking good care of it.”
As if on cue, a window washer belays down to spray liquid onto the glass and wipe it clean, and Chen laughs for the first time of the interview.
Chen came to Oregon from China with $3,000 to his name 17 years ago. Then he was a poor graduate student. Today he is the president of the company that owns Portland’s iconic KOIN Center, along with five hotels in San Francisco and a huge soybean oil factory and a five-star oceanside resort in his hometown of Shantou in Guangdong Province.
Chen’s buying spree as president and CEO of Portland-based American Pacific International Capital was made possible by the recession. But it is not over now that the recession has passed, because the money he represents — direct foreign investment from Asia and especially China — is growing exponentially. The soft-spoken former hydrologist plans to buy more buildings this summer as another wave of troubled properties washes back to the banks. He is also positioning himself to make prosperous use of a once obscure but now red-hot government program that enables foreigners to earn “green cards,” signifying lawful permanent residency, by investing directly in new or troubled U.S. companies and creating American jobs.
The federal EB-5 program, as it is known, already has funneled hundreds of millions of dollars from Chinese investors into Vermont ski resorts, Hollywood hotels and Seattle real estate. Soon it could be financing woody biomass projects in struggling Oregon timber towns, adult-care facilities on the Oregon Coast, massive urban redevelopment projects in Portland and even the long-stalled Columbia River Crossing bridge project.
During the period in which Chen went from being a broke grad student in Corvallis analyzing watershed run-off to a well connected financier snapping up hotels and factories, China evolved from a nation of potential to one of destiny: the world’s second-largest economy, the U.S. government’s largest creditor and Oregon’s top trading partner. As China’s powerful economic growth continues, Chinese investors with newfound wealth are moving into the U.S. economy at a rate not seen since Japan’s golden era in the 1980s.
“We’ve got an opportunity now,” says Tim McCabe, director of Business Oregon, the state’s economic development arm. “There are a lot of investors in China, and a lot of money… We’re seeing a lot more activity, and this is just getting started.”
Monday, April 13, 2015
BY GRANT KIRBY | OP-ED CONTRIBUTOR
The mega-shift from technology-driven to data-driven organizations raises questions about Oregon’s workforce preparedness.
Friday, March 06, 2015
BY JEFF DELKIN | OP-ED CONTRIBUTOR
As a local business owner, I believe it’s important to build our economy on a platform of conservation values.
Friday, February 27, 2015
PHOTOS BY JASON E. KAPLAN
Images from the 2015 celebration of Oregon's great workplaces.
Friday, March 27, 2015
BY OB STAFF
New events series brings magazine to life.
Friday, March 13, 2015
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
Ten startups have secured venture capital, angel or seed funding in 2015.
Friday, March 27, 2015
BY LINDA BAKER
Founded 12 years ago, Keen Inc. likes to push the envelope, starting with the debut of the “Newport” closed toe sandal in 2003. Since then, the company has opened a factory on Swan Island and a sleek new headquarters in the Pearl District. The brand’s newest offering, UNEEK, is a sandal made from two woven cords and not much more.
Thursday, April 23, 2015
BY JASON NORRIS | GUEST BLOGGER
There are winners and losers with a strengthening U.S. dollar.
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A new report highlights how Oregon bankers are giving back to their communities.
Since 1932 Tidewater Transportation & Terminals (operating as Tidewater Barge Lines and Tidewater Terminal Company) has operated a multicommodity transportation and terminal company based in Vancouver, Washington. The friendly expression on the company’s shipping containers reflects the attitude of about 330 safety and community-conscious employees but belies how complicated the barge business really is.
The Port of The Dalles has run marine facilities since the 1930s, but they are part of a larger mission to strengthen the local economy. They focus on regional economic development with a strong bent toward adding good-paying jobs in high tech, manufacturing and other industries.
Thinking about an MBA? Join us for our upcoming Wine & Cheese Information Session to learn more about Concordia University's MBA program.
Providing attendees with unique taste of the Northwest Reception.
CFM Strategic Communications turns 25 this year and is celebrating with a revamped website, special events for firm alumni and clients, a special-label wine and a list of 25 stories about its client work over the past quarter century.