We're Rich! Portland Has The Nation's Fastest Growing GDP

That’s right, rich!

(Illustration by Chiara Lanzieri)

We all know the downsides of Portland's changing demographics and economy—an influx of wealth and population has disrupted our housing market and wrought huge cultural changes in a little city that was used to being more like a big town.

But consider this: We're rich!

That's right, rich! The gross domestic product of the Portland-Vancouver metropolitan area grew faster than in any other region anywhere in the country since 2008, according to analysis by the real estate company HFF. That calculation of all the goods and services our region produces is a positive sign, as we have a booming tech industry and influx of residents.

It's also a measure of how our economy can go to extremes. When the U.S. economy is good, Portland's is very, very good, and when the country is bad, Portland can be horrid.

The unemployment rate hit record lows last year, and continued to fall, to just 4 percent as of this month.

The best news at the moment may be that as the rich get richer, the poor are, on a macro level, benefiting as well.

According to U.S. Census numbers released in December, the poverty rate for the Portland metro region fell by 2 percentage points between 2014 and 2015. That means 31,000 fewer people were living in poverty.

"From here to the next recession, we're expecting to see these good trends to continue," says state economist Joshua Lehner.

The next recession, you say? Your move, Mr. Trump.

Welcome to Reasons to Love Portland 2017

1. Portland Is Telling Donald Trump That He Won't Get Away With This
2. We're Rich! Portland Has The Nation's Fastest Growing GDP
3. Here's How Far Portlanders Have Ridden in the First Six Months of BikeTown
4. We're Very Happy That Portland Bartenders Can Finally Drink on The Job.
5. When the Snow Hit, Portlanders Saved Lives By Volunteering at Homeless Shelters
6. At Long Last, Portland Has The Kinky Coffee Shop It's Needed
7. A Selected List of All Portland's Recent Number 1 Rankings
8. Move Over PCT: You'll Soon Be Able to Mountain Bike From Washington to California
9. Oregon Has The Nation's Cheapest Weed. Thank God.
10. This is the Best Ski Season Mount Hood Has Had Since Obama Was a Senator
11. Nobody Snowdays Harder Than Portland
12. Portland Finally Has Architecture Worth Arguing About
13. Check Out This Crazy New Recording Studio in a Former Library in Deep Southeast
14. Weed Delivery Will Begin in Portland Any Day Now
15. In Portland, You Never, Ever Need To Call Domino's
16. Portland Is Home to the Most Liberal College in America. No, Not That One.
17. There's A Forgotten Wonder In Oregon City. It'll Soon Be Revealed
18. Portland's Blazers Bootleg T-Shirts Are Lit
19. Portland is Metal AF
20. ILOVEMAKONNEN Moved To Portland. No, For Real
21. Sorry, Donald, We Won't Help You Deport Our Neighbors.
22. Portland Now Has a Patriarchy-Free Social Club and Workspace
23. Oregon is the New Truffle King of the World
24. Check Out These Photos of the Winter Light Festival
25. In Portland, You Can See Every Movie Nominated For an Oscar in the Theater
26. Portland Art Museum is Tapping into the Legacy of Arguably Oregon's Greatest Artist
27. Yes, Portland Has More Pinball Machines Than New York and Los Angeles
28. Portland Has Vegan Everything. A Selected List.
29. In Portland, Dive Bars Never Really Die

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