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The Innovation DistrictPortland must competitively grow our knowledge-based economy, Our current economic challenges emphasizethe need for strategic partnerships between the City and ',ts urban university, Since the 1960's the PortlandDevelopment Commission and Portland State UniversitY have worked together in the expansion and growth inprominence of what has now become oregon's largest public university and a significant economic engine forour region. Tax increment financing has created success in the redevelopment of the South Park Blocks, UrbanCenter, the Urban Pla,a transit hUb, the Student Recreation Center, the Montgomery Green Street and severalbike/pedestrian improvements throughout the University District. As a result, the District is rapidly becoming amodel vibrant, equitable and sustainable urban neighborhood, With the support of tax increment financing inthe Innovation District, PSU and the South Downtown will continue to create high-income jobs, support targetindustr ies for Portland, and become the magnet for the commercialization of research, development, andinnovation for our City.

A pUblic evaluation committee appointed by Mayor Adams defined the objectives of a potential new Westsideurban renewal area to be: Job creation Private investment .. Neighborhood l ivabil ity Range of housing options Sustainability

Return on investment and measuredoutcomes

Partnership with overlapping taxingjurisdictions

Mayor Adams and President Wiewel propose a new approach to the utilization of tax increment as animplementation tool for the aligned City and PSU economic development strategies, PSU Development Frameworkand Central City 2035 plans. These strategies and plans have a .trong emphasis on job creation and privateinvestment driven by the following themes:

Commerc:lalize researcho New research faciJ1tieso Innovation that leads to job creating small

businesseso Business accelerators and wet labs

Promote entrepreneurship and businessdevelopment

o SChool of Business Administrationlab2Market and Center forEntrepreneurship program$o College of Urban and Public Affairs city,wide capstone projects

Reall,e Sustainability through EcoDistrictso District energy() Stormwater managemento BUilding renovation and historiCpreservation

Enhance rndu$try Partnershipso Portiand's target duster I traded -sectorfocuso Commercial development Oli and adjacent

to campus I global headquarters sitestil Creilte a 2 1 ~ t Century workforceo On-campus student housing to improvegraduation $l,Jc

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A partnership of the City and its primary public higher education institution is uniquely capable of achievingthese objectives. PSU works with over 2,000 businesses and graduates over 5,000 students per year. PDC andPSU will establish agreements that formali,e expectations and guide achievement of development objectives.The agreements will have development goals over a 25 year investment period, with projects implemented asthey become finanCial feasible. Projects On the horizon include;

School of Business Administration expansion - PSU prepares more students for the workforce thanany other university in Oregon, School of Business Administration and Community Developmentstudents already work city-wide through various programS. Future expansion will be targetedsped/icaHy to industry clusters/PSU research priorities.

Oregon Sustainabil ity Center- Ajoint venture between Oregon University System, the City and theliVing Building initiative consortium of non-profits, this I'lving laboratory will anchor an emergingUniversity EcoDistrlct with one of the world's most innovative sustainable bUildings.

OHSU/PSU Wet labs - The district has the potential to double wet-lab capadlY by utililing andretrofitt ing existing bUildings,

PSU's Research and Strategic Partnership Initiative - is targeting five research/industry partnershipsin the next two years. P$U plans grow annual research fram $60 million annually today to $100million annually within five yeilrs, and $200 million within 15 years. Properties within the InnovationDistrict, such as the 1" ilnd Uncoln block, are prime candidates for redevelo"P11'\oot.to-'l!.low I

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2..16..11 Draft .. Potential Innovation DistrictPotential Development Sites

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