Feasibility Study Company Independent Feasibility Analysis

Oregon · Market Intelligence

Oregon Feasibility Studies

An independent, lender-grade feasibility practice for Oregon across SBA 7(a) and 504, USDA Rural Development, EB-5, and conventional capital. This page is our standing, sourced read on where Oregon markets are oversupplied, how deals actually get funded by region, and where Oregon feasibility studies fail review.

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31.9%
Downtown Portland office vacancy, Q1 2026 — down from 34%3
9.5%
Maximum statewide rent increase allowed for 202617
~18K
Intel's Oregon headcount, off a ~23,000 peak10
#3
U.S. data-center industry, by some estimates13
The Oregon Thesis

A statewide Oregon number is indefensible.

Oregon rewards feasibility work and punishes shortcuts. It carries no state sales tax, but the decisive fact for underwriting is that the state is fracturing into at least five divergent demand economies: the tech-and-distress duality of the Portland metro, the government-and-university steadiness of the Willamette Valley, the amenity-migration boom of Bend and Central Oregon, the tourism-and-retirement Coast, and timber-legacy Eastern Oregon. The same asset class behaves oppositely across them — Bend built a record roughly 1,000-unit apartment wave in 2025 while downtown Portland office ran near 32 to 34 percent vacancy.63

The state is also stalled and unevenly settled. Oregon added only about 8,200 people in the year to July 2025, growth near 0.33 percent — one of the slowest rates nationally and a historic break from the roughly two-percent annual pace of the 1990s — and that growth is now entirely migration-driven as natural change has turned negative.1 Thirteen of 36 counties lost population while Deschutes led the state. Two forces override everything on the revenue side: first-in-the-nation statewide rent control caps existing-asset increases at 9.5 percent for 2026, and the urban growth boundary system tightly rations developable land.17 Portland is not Bend; Bend is not the Coast; neither resembles Eastern Oregon. A study built on a statewide average misprices nearly every deal, so we underwrite Oregon region-by-region, against the current pipeline, the regional funding channel, and the Oregon-specific factors most studies miss.

What follows is organized as a working desk: a live oversupply monitor, a funding-routing map, the review failures that sink Oregon studies, the regulatory edges that decide outcomes — the limited Certificate-of-Need line, statewide rent control, and the Silicon Forest concentration — and a per-region demand fingerprint. Every figure is dated and attributed in the sources below.

The Oversupply & Pipeline Monitor

Where Oregon markets stand, region by region.

A supply-pressure read for each region and asset class, refreshed each quarter from named primary sources. A dash means we hold no current tracked reading, not that the market is balanced. Vendor reads for the same metro diverge and are shown as ranges; data current to Q2 2026.

Supply pressure: Oversupplied Balanced Undersupplied Digesting / softening
Region Multifamily Self-Storage Industrial Office Hotel Pipeline
Portland – metro Digesting7.5% vac. (CoStar) Undersupplied4.5 sf/capita, city Digesting6.5% vac., 15-yr high OversuppliedCBD 31.9%, stabilizing Recovering
Portland – downtown core Digestingdelivery shortfall No read No read Oversupplied~70% of metro vacancy No read
Portland suburbs BalancedVancouver WA +3%/yr No read BalancedIntel-exposed BalancedKruse Way healthier No read
Salem / Eugene Balancedgov't & university-anchored No read No read No read Event-driven
Bend / Central Oregon Oversupplied>10% vac., record 2025 wave No read~$219/mo avg Undersupplieddata centers, power-capped No read Balanced80%+ summer occ., seasonal
Medford / Rogue Valley No readinsufficient sourced data No read No read No read Seasonal-demand risk
Coast / Eastern Oregon Undersuppliedthin, illiquid stock No read Undersuppliedrural data centers No read Balanceddrive-to leisure

Readings compiled from sources 3–18 below. Vendor vacancy estimates for the same metro can differ; each figure is attributed at its point of use.

Multifamily: rent control over a self-correcting cycle

Portland metro absorbed a record 2023 delivery wave and has largely self-corrected. Vacancy ran about 7.5 percent in Q2 2026 on CoStar's read, down from a 7.9 percent peak in Q4 2024, though vendor reads diverge sharply — Multifamily NW's spring survey put it near 6.25 percent while Kidder Mathews measured 8.4 percent at an average rent of $1,844, down about 2 percent year over year.453 The cycle turned in 2025, when absorption of 4,990 units outpaced 4,165 deliveries after 2023's 2.2-to-1 oversupply (7,198 delivered against 3,308 absorbed), and the under-construction pipeline fell 16 percent year over year to 2,760 units with 2026 deliveries projected down 56 percent.34 The live risk is not supply but labor: the metro shed roughly 20,000 jobs in 2025 with another 10,000 forecast for 2026.3 Bend runs the opposite way. Central Oregon absorbed a record roughly 1,000-unit wave in 2025 that pushed vacancy above 10 percent — about twice its 15-year average — even as rents held near $1,840 and rent growth slowed to about 0.3 percent in Q3 2025, with eight weeks of free rent offered at lease-up; the wave is expected to fall off sharply in 2026, making this a digesting oversupply rather than demand softening.6 Overlaying all of it is statewide rent control: the 2026 cap on existing-asset increases is 9.5 percent, but buildings under 15 years old are exempt, preserving new-development lease-up economics.17

Self-storage: low stock and a shrinking pipeline

Portland is one of the least storage-saturated major metros in the country. The City of Portland holds just 4.5 square feet per capita across 72 facilities, roughly 4.74 million square feet, and the Portland-Vancouver-Hillsboro metro sits near 6.2 to 6.6 — below the roughly 7.0-square-foot national benchmark — while the average unit rents for about $146 per month against a $131 national street rate.7 Supply is cooling hard: projected 2026 completions in the City of Portland fall 63.5 percent year over year to about 52,500 square feet, and the metro under-construction pipeline is just 0.6 percent of inventory, tied for the lowest among the top 30 U.S. metros against a 2.3 percent national average.7 Bend units rent higher, near $219 per month.7 Low per-capita stock and a shrinking pipeline argue against oversupply risk in Portland — the rare Oregon asset class where the supply read is favorable.

Industrial: Silicon Forest concentration and a data-center engine

Oregon industrial splits into three distinct stories. Broad Portland distribution is the region's healthiest sector but softening: CBRE put vacancy at 7.6 percent with 2.2 million square feet of Q1 2026 leasing, while Kidder Mathews measured direct vacancy at 6.5 percent — a 15-year high, up 160 basis points year over year — with negative net absorption near 872,000 square feet and asking rents around $0.87 per square foot triple-net, and does not expect vacancy compression before 2027.89 The Silicon Forest is the signature concentration risk: Intel's Hillsboro campus, home to the world's first High-NA EUV lithography tool and a planned $36 billion investment, is contracting — Intel cut more than 3,100 Oregon jobs in 2025 and its Oregon headcount fell from a roughly 23,000 peak toward about 18,000, with suppliers Lattice Semiconductor and Edwards Vacuum also cutting.1110 The third story is data centers: by some estimates Oregon hosts the nation's third-largest data-center industry, on about 2,900 acres consuming roughly 11 percent of the state's electricity, a share set to double, clustered in The Dalles (Google), Prineville (Meta and Apple), and Boardman-Hermiston (AWS).13 The Bend-Prineville market alone spans 18 facilities, about 5.3 million square feet and 483 megawatts.14

Office: the marquee national distress story

Downtown Portland is one of the most distressed office markets in the country, now showing its first stabilization signal in three years. CBD vacancy hit 34 percent in Q4 2025 on Colliers' read and edged down to 31.9 percent in Q1 2026 per Kidder Mathews — the first decline in nearly three years, against 10.4 percent in Q4 2019.123 Metro-wide office ran 24.1 percent (Cushman & Wakefield) to 27 percent (Colliers), with roughly 70 percent of all metro vacancy concentrated downtown.12 Q1 2026 delivered the first positive net absorption since 2020, about 217,000 square feet, and office sales volume up 70.5 percent year over year as value-add and conversion investors re-entered.3 Colliers attributes the distress to prolonged remote work, tenant-safety concerns, and high local tax rates. Suburban submarkets like Kruse Way and the Sunset Corridor are materially healthier, though Hillsboro and Beaverton office carry direct Intel and Nike exposure. The signal is quality-bifurcation, and one improving quarter is a stabilization signal, not a recovery.

Hotels, wine, and senior housing

Central Oregon lodging is a drive-to recreation anchor: regional occupancy reached 80.2 percent in July 2025, led by Bend at 81.0 percent, though the market is steeply seasonal (March occupancy near 54 percent), and 2024 visitor spending ran roughly $1.2 to $1.3 billion.15 Portland lodging is recovering more slowly, led by leisure and international visitation, against a national 2026 outlook of essentially flat revenue-per-available-room, up 0.6 percent, and 62.1 percent occupancy.15 The Willamette Valley wine economy — Oregon's Pinot Noir heartland at roughly 60 percent of planted acreage — is in a demand-driven contraction: the 2025 winegrape harvest fell 25 percent to 96,898 tons, the state lost 77 vineyards and 33 wineries, case sales dropped 16 percent to 4.9 million, and total wine-sales value fell 11 percent to $812 million.16 In senior housing the Certificate-of-Need line is decisive: skilled-nursing beds are CON-gated and supply-controlled, while assisted living is market-driven and carries elevated oversupply risk, with aging in-migration to Bend and the Coast supporting demand.18

The Funding-Routing Map

How an Oregon deal actually gets funded.

Feasibility work exists to satisfy a specific reviewer. Knowing which district and channel funds your asset in your region is half the battle. This is the routing most feasibility pages never publish.

SBA district coverage in Oregon
Oregon is split across two SBA district offices.19
District officeRegion covered
Portland (419 SW 11th Ave)30 Oregon counties plus four counties in southwestern Washington
Boise, IdahoThe six easternmost Oregon counties

On the 504 side, Oregon is served by Evergreen Business Capital, the dominant Pacific Northwest Certified Development Company, which reports having facilitated more than $800 million in 504 loans and over 37,000 jobs since 1980; Craft3, the Greater Eastern Oregon Development Corporation, and CCDC are also active, and any "largest CDC" claim is self-reported and unresolved without the SBA data file.20 On the 7(a) side, third-party aggregators place Umpqua Bank — now merged into Columbia Banking System — at the top of Oregon by dollar volume, with U.S. Bank most active by loan count, and KeyBank, Summit Bank, Banner Bank, and First Interstate among the leaders, alongside national specialists Live Oak Bank, Celtic, and Newtek.21 Oregon SBA lenders funded roughly 2,100 businesses for about $1.6 billion in fiscal 2025 on those aggregator figures, and exact rankings require the data.sba.gov loan-level file.21 For rural credits, USDA Business and Industry and Community Facilities loans route through the USDA Rural Development Oregon state office in Portland; vast rural Oregon — Eastern Oregon, the Coast, and timber and agricultural country — is heavily USDA-eligible, with precedents including a $5 million coastal hotel and a rural senior assisted-living facility.22 The decisive new tool is the July 4, 2026 decoupling of the 7(a) and 504 caps to $10 million combined, the highest in agency history.23

  • Owner-occupied real estate plus long-life equipment, any regionSBA 504 via Evergreen Business Capital paired with a Pacific Northwest first-mortgage bank (Umpqua-Columbia, Banner, First Interstate).
  • Working capital or acquisition plus real estate in the Portland metroSBA 7(a) via Umpqua-Columbia, U.S. Bank, KeyBank, or Summit Bank; after July 4, 2026, stack a 7(a) and a 504 to $10M combined.
  • A rural, coastal, timber, or agricultural project — or a rural data-center-adjacent dealUSDA Business & Industry, Community Facilities, or REAP through the Portland state office, often blended with SBA.
  • Manufacturing, including semiconductor suppliers (NAICS 31–33)Capture the FY2026 manufacturing fee waivers (sunset September 30, 2026) and the 90% Made-in-America 7(a) guarantee.
  • A large power or water load (data center or fab)Price PGE or PacifiCorp interconnection and grid capacity before financing, not after.
Common Review Failures

How Oregon feasibility studies fail review.

Each failure below is tied to a real Oregon number. These are the recurring reasons an Oregon study loses credibility with a lender or agency, engineered out of our deliverables before they ship.

  1. Statewide-average error

    A blended state assumption mixes tech-Portland, government-Salem, boom-Bend, tourism-Coast, and timber Eastern Oregon. Concrete proof they do not move together: Deschutes grew about 1.3 percent and led the state in 2025 while 13 of 36 counties lost population and Multnomah barely moved.1

  2. Intel / semiconductor concentration

    The signature Oregon failure mode. Intel cut more than 3,100 Oregon jobs in 2025 and its headcount fell from a roughly 23,000 peak toward 18,000; state manufacturing employment fell 4.5 percent year over year and unemployment reached 5.0 percent in August 2025. Underwriting Washington County or Hillsboro real estate on continued Intel growth is the highest-conviction rejection in the state.10

  3. Downtown Portland office collapse

    CBD office vacancy hit 34 percent in Q4 2025, still more than triple the 10.4 percent of Q4 2019, and roughly 70 percent of all metro vacancy sits downtown. Underwriting downtown office on pre-2020 rent and occupancy assumptions is catastrophic; the Q1 2026 dip to 31.9 percent is a stabilization signal, not a recovery.123

  4. Out-migration and population stagnation

    Oregon grew just about 8,200 residents, near 0.33 percent, in the year to July 2025 — a historic break from its growth identity — and Multnomah County lost roughly 25,720 residents between 2020 and 2023 before flattening. Applying a growth-era capture rate to a flat or shrinking county overstates absorption directly.1

  5. Rent-control and land-use mispricing

    SB 608 and SB 611 cap existing-asset rent growth at 9.5 percent for 2026, down from 10.0 percent in 2025, directly limiting NOI growth in underwriting, while the statewide urban growth boundary system rations developable land and lengthens entitlement timelines. Both are structural, not cyclical.17

  6. Wine-economy oversupply

    The 2025 Willamette Valley harvest fell 25 percent to 96,898 tons, the state lost 77 vineyards and 33 wineries, and case sales fell 16 percent to 4.9 million. Underwriting vineyard or winery real estate on peak-cycle economics ignores a demand-driven contraction the census has already booked.16

  7. Tax and business-climate drag

    Oregon has no sales tax, but a graduated income tax topping 9.9 percent plus the Corporate Activity Tax pushes Portland-area high earners to a combined marginal rate near 13.9 percent — among the highest nationally — driving high-earner and business migration across the Columbia to no-income-tax Clark County, Washington.24

Regulatory Edges

The Oregon rules that decide feasibility outcomes.

Several regulatory realities separate an Oregon study that survives review from one that does not. The first is the one competitors most often state wrong — in both directions.

Certificate of Need: repealed for ASCs, retained for hospitals and nursing beds

Oregon runs a limited Certificate-of-Need program, and both common competitor claims are wrong. Under ORS 442.315, any new hospital and any new skilled-nursing or intermediate-care facility must obtain a CON from the Oregon Health Authority, but the statute expressly exempts ambulatory surgical centers, and Oregon has repealed CON for most other facility types over successive sessions.18 The feasibility consequences are precise: hospitals and long-term-care skilled-nursing beds are CON-gated and supply-controlled, lowering new-entrant oversupply risk; ambulatory surgery centers, imaging, and most outpatient facilities are market-driven, with elevated oversupply risk like Texas, Arizona, and California; and assisted living and residential care are market-driven as well. For senior-housing feasibility the skilled-nursing (gated) versus assisted-living (market-driven) distinction is the whole analysis. Competitors who call Oregon a full-CON state or a no-CON state are each wrong in one direction.18

First-in-the-nation statewide rent control

Oregon was the first U.S. state to adopt statewide rent control, via SB 608 in 2019, which capped annual increases at 7 percent plus CPI, and SB 611 in 2023, which tightened the cap to the lesser of 10 percent or 7 percent plus CPI. The Oregon DAS Office of Economic Analysis publishes the maximum each September 30; the 2026 cap is 9.5 percent, down from 10.0 percent in 2025.17 The decisive carve-out for underwriting is that buildings less than 15 years old are exempt, which preserves lease-up economics for new development while capping existing-asset NOI growth. A pro forma that models existing-asset rent growth above the annual cap, or that ignores the new-construction exemption, misprices revenue on both ends.

The Silicon Forest concentration and the data-center grid

The Silicon Forest is Oregon's signature concentration risk, and it is contracting. Intel, the state's largest private employer, cut more than 3,100 Oregon jobs in 2025 on top of roughly 3,000 in 2024, and its Oregon headcount fell from a peak near 23,000 toward about 18,000; state manufacturing employment fell 4.5 percent year over year and unemployment reached 5.0 percent in August 2025.10 Oregon's own CHIPS Act (SB 4, 2023) dedicated $190 million and gave the Governor authority to bring sites into urban growth boundaries, but supplier firms such as Lattice Semiconductor and Edwards Vacuum are also cutting.11 Running parallel is a data-center grid constraint: the cluster already consumes roughly 11 percent of state electricity, a share set to double, and local jurisdictions including La Pine and Christmas Valley rejected projects in 2025 and 2026.13 Any Washington County industrial, office, or multifamily underwrite must price this dependency explicitly.

Measure 110, public safety, and Oregon's tax structure

Two policy realities weigh directly on urban demand and business location. Oregon's 2020 Measure 110 decriminalized drug possession; HB 4002, effective September 1, 2024, recriminalized small-quantity possession as a misdemeanor with optional county deflection programs, and the addiction and public-safety perception is cited explicitly by Colliers as a driver of downtown Portland office distress.2512 On tax, Oregon levies no sales tax but a graduated income tax topping 9.9 percent and a Corporate Activity Tax of 0.57 percent on Oregon commercial activity above $1 million; Portland-area high earners face a combined marginal rate near 13.9 percent, among the highest in the nation, which drives high-earner and business migration across the Columbia to no-income-tax Clark County, Washington.24

Tailwinds in the sponsor's favor

Three factors cut the other way. Oregon has no statewide sales tax; the rent-control regime exempts buildings less than 15 years old, protecting new-development lease-up; and the SBA raised its combined 7(a)-plus-504 ceiling to $10 million effective July 4, 2026, materially enlarging bankable deal size.23

Region Divergence

Oregon regions, distinct demand fingerprints.

Each region carries its own economic base and its own supply position. These are the units of analysis for an Oregon study, and each anchors a dedicated market page.

Semiconductors & apparel

Portland–Vancouver–Hillsboro

Semiconductors (Intel and the Silicon Forest), athletic apparel (Nike, Adidas, Columbia), health care, and port logistics across a metro near 2.54 million. Multifamily is digesting toward balanced while downtown office is one of the nation's most distressed markets.23

Silicon Forest

Washington County / Hillsboro

Intel's D1X fab and a planned $36 billion campus anchor the state's fastest-adding metro county — but Intel cut more than 3,100 Oregon jobs in 2025 and its headcount fell toward 18,000. Balanced today, concentration-fragile in any underwrite.1011

State government & agriculture

Salem

State government and Willamette Valley agriculture anchor the capital metro near 440,000. Demand is steadier and less cyclical, and multifamily reads balanced — a government-anchored counterweight to Portland's tech volatility.1

University & health care

Eugene–Springfield

The University of Oregon and health care anchor a metro near 390,000. Multifamily is student-influenced and reads balanced; underwrite student housing by enrollment and by campus, not on a metro average.1

Amenity migration

Bend–Redmond / Central Oregon

The state's growth engine: Deschutes County reached 213,072 and led Oregon this decade, up 14,811 since 2020. A record roughly 1,000-unit 2025 apartment wave pushed vacancy above 10 percent, and lodging is strong but steeply seasonal.16

Data centers

Prineville / Crook County

Meta and Apple hyperscale campuses span roughly 5.3 million square feet and 483 megawatts in the Bend-Prineville market, providing about 600 permanent jobs and lifting Crook County to the state's second-highest average wage — a specialized, power-and-water-constrained underwrite.1314

Tourism & retirement

The Oregon Coast

Tourism, retirement, and fishing across Clatsop, Lincoln, Tillamook, Coos, and Curry counties. Drive-to leisure lodging runs on thin supply, rental stock is small and illiquid, and most of the coast is USDA-eligible — a market to underwrite on monthly, not annual, demand.22

Timber, agriculture & Greater Idaho

Eastern & Southern Oregon

Timber legacy, agriculture, and cattle anchor a declining, thinly settled region carrying "Greater Idaho" secession sentiment, with the Medford / Rogue Valley the largest submarket. Metro-level supply data is thinner; we build these studies with primary local research.1

By Asset Class

Oregon feasibility studies by asset class.

Each asset class carries its own Oregon demand drivers, from Silicon Forest concentration to data-center power constraints to the Willamette Valley wine cycle. Explore the analytical approach by property type.

Oregon Questions

Oregon feasibility study questions.

Does Oregon require a feasibility study for an SBA loan?

Under SBA SOP 50 10 8, a feasibility study is discretionary rather than universally mandated, and lenders commonly require one for special-purpose properties and startup or ground-up projects that lack operating history. Oregon carries a heavy concentration of special-purpose, hospitality, senior-housing, and data-center-adjacent collateral, so feasibility analysis is frequently expected on Oregon SBA credits.

Does Oregon have a Certificate of Need law?

Oregon runs a limited Certificate of Need program under ORS 442.315, administered by the Oregon Health Authority. New hospitals and new skilled-nursing or intermediate-care beds are CON-gated, but ambulatory surgical centers are expressly exempt and Oregon has repealed CON for most other facility types. For senior-housing feasibility this is decisive: skilled nursing is CON-gated with low oversupply risk, while assisted living is market-driven with elevated risk. Claims that Oregon has full CON, or no CON, are both wrong.

Which Oregon real estate markets are oversupplied right now?

As of Q2 2026, downtown Portland office is deeply oversupplied, with CBD vacancy near 31.9 to 34 percent versus 10.4 percent in Q4 2019, and Bend multifamily is oversupplied after a record roughly 1,000-unit 2025 wave pushed vacancy above 10 percent. The Willamette Valley wine economy is oversupplied. Portland metro multifamily is digesting toward balanced near 7.5 percent vacancy, and Portland self-storage is low-stock at about 4.5 square feet per capita in the city with a shrinking pipeline.

How does Oregon's rent control affect feasibility?

Oregon was the first U.S. state to adopt statewide rent control, via SB 608 in 2019 and SB 611 in 2023. The Oregon DAS Office of Economic Analysis set the 2026 maximum allowable increase at 9.5 percent, down from 10.0 percent in 2025, which caps existing-asset NOI growth. Buildings less than 15 years old are exempt, preserving lease-up economics for new development, so a defensible Oregon pro forma models existing-asset revenue growth against the annual cap and treats land supply under the urban growth boundary system as a regulated variable.

Who funds SBA and USDA loans in Oregon?

The SBA Portland District Office serves 30 Oregon counties plus four counties in southwestern Washington, with the six easternmost Oregon counties served by the Boise District Office. On the 504 side, Evergreen Business Capital is the dominant Pacific Northwest CDC, with Craft3 and GEODC also active; on the 7(a) side, aggregators place Umpqua-Columbia, U.S. Bank, KeyBank, and Summit Bank among the most active Oregon lenders. USDA Business and Industry and Community Facilities loans route through the USDA Rural Development Oregon state office in Portland.

How is an Oregon feasibility study different from a national one?

Oregon is too internally divergent for statewide assumptions; the same asset class behaves oppositely across the state, with Bend building a record apartment wave while downtown Portland office runs near record vacancy. A defensible Oregon study is built region-by-region against the current supply pipeline, the regional funding channel, and Oregon-specific factors most studies miss: the Silicon Forest and Intel concentration, the downtown Portland office collapse, statewide rent control and the urban growth boundary land-use system, and the limited Certificate-of-Need line.

Underwriting an Oregon project? Start with the market read.

A methodology briefing walks through the analytical framework, the deliverable composition, and the current Oregon market data for your region and asset class — including the Silicon Forest concentration, statewide rent control, and the limited Certificate-of-Need factors that decide Oregon outcomes.

Request a methodology briefing
Sources

Data sources and dates.

Every figure on this page traces to a named authority. Real-estate readings are point-in-time and vendor-dependent; where vendors disagree, the range is shown and each is attributed at its point of use.

  1. U.S. Census Bureau, Vintage 2025 Population Estimates (Oregon population about 4.27 million and Deschutes County 213,072 as of July 1, 2025); Portland State University Population Research Center (2025).
  2. CoStar, via HFO Investment Real Estate, Portland metro population and multifamily note (Spring 2026).
  3. Kidder Mathews, Portland multifamily, office, and industrial market reports (Q1 2026, released April 2026).
  4. CoStar, Portland multifamily vacancy (Q2 2026); Northmarq, Portland delivery-pipeline commentary (2026).
  5. Yardi Matrix, Portland multifamily asking-rent data (early 2026); Multifamily NW, semi-annual apartment survey (Spring 2026).
  6. CoStar analyst John Gillem, Bend and Central Oregon multifamily, via The Bulletin (November 11, 2025); Multifamily NW survey (Spring 2025).
  7. RentCafe and StorageCafe analyses of Yardi Matrix data, Portland and Bend self-storage (March 2026); Multi-Housing News citing Yardi Matrix, metro pipeline (April 2026).
  8. CBRE, Portland industrial market report (Q1 2026).
  9. Kidder Mathews, Portland industrial market report (Q1 2026).
  10. OPB, Hillsboro News-Times, and KLCC, Intel Oregon workforce coverage (2025; KLCC, November 17, 2025); Oregon Employment Department, manufacturing employment and state unemployment (August 2025).
  11. City of Hillsboro, Intel campus investment; Oregon CHIPS Act (SB 4, 2023) via Business Oregon.
  12. Colliers, Portland office market (Q4 2025, via KOIN); Cushman & Wakefield, Portland office (early 2026).
  13. The Oregonian / OregonLive, Mike Rogoway, Oregon data-center industry (March 27, 2026); Business Oregon; Oregon Department of Land Conservation and Development (2026).
  14. Baxtel, Bend-Prineville data-center facility inventory (2026); Economic Development for Central Oregon (EDCO), Crook County (2025).
  15. Visit Central Oregon citing STR, Central Oregon lodging (July 2025); CoStar / Tourism Economics, 2026 U.S. lodging outlook (January 2026).
  16. 2025 Oregon Vineyard and Winery Census, Oregon Wine Board and IPRE, University of Oregon (released July 2, 2026).
  17. Oregon Department of Administrative Services, Office of Economic Analysis, maximum annual rent increase for 2026 (September 30, 2025); SB 608 (2019) and SB 611 (2023); Oregon Capital Chronicle.
  18. Oregon Revised Statutes 442.315 and 441.020; OAR 411-085-0010; Oregon Health Authority; Oregon Department of Human Services.
  19. U.S. Small Business Administration, Portland District Office directory (2026); Boise and Seattle district coverage.
  20. Evergreen Business Capital public disclosures; Craft3, Greater Eastern Oregon Development Corporation, and CCDC (2025–2026).
  21. GoSBA Loans and SBALenders.com, Oregon SBA lender aggregates (2025); exact rankings require data.sba.gov loan-level data.
  22. USDA Rural Development, Oregon State Office, Portland (2025–2026); Business and Industry program precedents.
  23. SBA Policy Notice 5000-879058 (announced May 18, 2026; effective July 4, 2026), combined 7(a)-plus-504 cap of $10 million; FY2026 manufacturing fee waivers, sunset September 30, 2026.
  24. Tax Foundation; City of Portland Revenue Division; Oregon Department of Revenue; Oregon Corporate Activity Tax (2019); Measures 5 and 50.
  25. Oregon Measure 110 (2020); HB 4002 (2024, effective September 1, 2024).