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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.”
Tuesday, February 25, 2014
In this issue, we celebrate our 21st annual 100 Best Companies to Work For in Oregon project.
Thursday, February 27, 2014
Our 100 Best Companies project turned 21 this year, so pop open the Champagne. Our latest survey gives us plenty to cheer.
Tuesday, March 11, 2014
BY MARK BLAINE | OB BLOGGER
The publisher of the Emerald Media Group moves on, leaving a cutting edge media group that depends on business acumen for its survival.
Tuesday, February 25, 2014
Health care and vacations rule. That’s the consensus from our reader poll on workplace benefits that help retain and recruit employees.
Wednesday, April 02, 2014
A new report explores the impact of millennials on Oregon's business and political climate.
Tuesday, February 25, 2014
BY BRANDON SAWYER
Sales of small businesses surged in 2013 according to the biggest Internet marketplace of such transactions, BizBuySell, increasing to 7,056 reported sales, a 24% increase over 2012, when they dropped 7%. Portland Metro sales tracked by the site grew 9% to 73, capping three years of solid growth. On top of that, Portland’s median sale price jumped 67% to $250K, versus just 13% to $180K nationally. Portland was one of just six metros tracked where the median sale price matched the median asking price, with sellers getting, on average, 92% of what they asked.
Thursday, April 10, 2014
BY JESSICA RIDGWAY | OB WEB EDITOR
SEMpdx hosted a workshop this week for entrepreneurs, website developers and others interested in search engine optimization (SEO). Here are a few tips and tricks aimed at bumping up your search engine rankings.
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Marketing the state brings new business, new jobs and a better quality of life for everyone.
Living in the beautiful Pacific Northwest means enjoying our wonderful surroundings, while remaining aware of the multiple types of natural disaster threats that we face: winter storms, windstorms, floods, landslides, earthquakes, volcanoes and tsunamis.“
Oregon State University's hospitality degree program invests in next-generation leaders.
On Saturday, April 26, more than 1,900 local Comcast employees and their families, friends and community partners will “make change happen” as they volunteer to improve schools and nonprofits in Oregon and Southwest Washington as part of Comcast’s 13th Comcast Cares Day.
NAI Norris, Beggs & Simpson just completed their newly rebranded First Quarter Market Reports. Not only does it feature a brand new format, but the report ensures accuracy due to the annual truing up of their database.
Samuel Hernandez, an Associate at Barran Liebman, is the recipient of a 2014 Oregon State Bar Litigation Section Rising Litigator Award.