The state’s new revenue forecast is out, and the findings are not pretty: nine consecutive quarters (and counting) of year-over-year job loss, surprisingly poor numbers in the professional services, financial and retail sectors and looming public sector cuts as backlash spreads over government spending. Housing starts are down, retail sales are sluggish and consumer confidence is understandably low. The Oregon job market is not expected to improve significantly until the fourth quarter of 2011.
The Greenbrier Companies, headquartered in Lake Oswego with a strong presence in Portland Harbor, has received $130 million worth of new railcar orders and will increase its workforce by 260 at its Gunderson railcar manufacturing facility in Northwest Portland. The company has received over 1,700 new orders and 1,200 refurbishment orders from five companies in North America.
The ribbon-cutting of Elizabeth Caruthers Park last Thursday sent a strong signal that the idealized South Waterfront District isn’t completely lost to a stalled economy. Quite the contrary, it looks as though the neighbors are finally moving in, and so is business.
There aren’t a lot of counties in Oregon with unemployment rates lower than the national average, but there are three of them in the Columbia River Gorge. Even as the state's economy has stagnated, the awesome rise of the robot plane pioneer Insitu as an aerospace powerhouse and other positive developments have done wonders for communities on both sides of the river, especially in the vicinity of Hood River.
Wilsonville-based FLIR Systems announced this morning an agreement to acquire ICx Technologies for $274 million. FLIR, maker of thermal imaging and camera system products, will pay $7.55 per share for the detection and surveillance company based in Arlington, VA.
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