Industrial Land Inventory update
|Download full report:
2014 Industrial Land Inventory (1.5MB pdf)
The production of traded-sector goods (i.e. manufacturing) remains a backbone of Portland metropolitan area’s employment. Manufacturing jobs provide higher wages and better benefits than non-manufacturing jobs, particularly for those workers without a high school or college degree. The availability of large and market-ready industrial sites is critical to expanding and attracting traded-sector businesses and growing middle-income jobs needed for a prosperous region.
This report is an update to the 2012 Regional Industrial Site Readiness Project of large (25+acres) industrial sites within the Portland metropolitan area Urban Growth Boundary (UGB) and select urban reserves. The project is a partnership of Business Oregon, Metro, NAIOP – Commercial Real Estate Development Association Oregon Chapter, Oregon Department of Land Conservation and Development, Port of Portland, and the Portland Business Alliance, with cooperation from local governments and private property owners. This update is intended to:
- inventory and track changes in the region’s large lot industrial site supply;
- analyze movement of sites from varying states of site readiness based on a tiered system (Tier 1: Development-ready within 180 days of application submittal; Tier 2: Likely to require 7 – 30 months to become development-ready; and Tier 3: Likely to require over 30 months to become development-ready);
- inform local, regional, and state efforts to ensure an adequate supply of development-ready large industrial sites for traded-sector job creation;
- support policy and investment decisions required to ensure an adequate supply of development-ready large industrial sites to support economic growth.
Tier 1 sites are the only sites generally considered recruitment-ready for businesses expanding or locating in the Portland metropolitan area. In a globally competitive environment, businesses increasingly require compressed timelines for decision making and development. While not considered marketable for most recruitments, Tier 2 could be feasible for expansions of existing businesses and for speculative development for investors. Tier 3 sites are viewed as being non-competitive in the market, and are therefore unavailable for business expansion and recruitment without significant investments, changes in regulatory compliance, or land price discounted by property owners.
BY THE NUMBERS:
Number of broadly attractive 25-acre or larger sites available for industrial development within 180 days.
Number of available 25-acre or larger sites available for industrial development within seven to 30 months.
Number of available 25-acre or larger sites available for industrial development beyond 30 months.
Number of available 50-acre or larger sites available for industrial development within 180 days.
Number of 100-plus acre site available for industrial development within 180 days.
Percentage of sites in the inventory that are available for industrial development within 180 days are located in Multnomah or Washington County.
Percentage of sites in the inventory that face assembly and land aggregation challenges.
Percentage more that on average a traded-sector worker in the Portland metropolitan area earns than a local-sector worker in the Portland metropolitan region.