As Marcus & Millichap duly notes, the port is a major contributor to the city's current luster. According to local officials, the port handled a record-breaking 15 million tons of marine cargo in the fiscal year ending June 30. The entire Portland harbor, including both the port and private enterprise along the Columbia and Willamette rivers, handled an estimated 21 million tons, roughly equivalent to figures for the larger ports of Oakland, CA and Seattle. But the Portland figure does not include data for the Port of Vancouver, WA, which lies directly across the Columbia River from the city and is considered part of the Portland market. Inclusion of that data would likely push the Portland area above Oakland and Seattle.

Historically, the Port of Portland has relied on exports more than imports, shipping farm and forest products to Asia. But last year for the first time imports nearly equaled exports, and planned dredging of the Columbia to allow passage of larger container vessels promises to further shift the balance, as it will enable the city to become more of a distribution center. For the present, however, the dependence on exports has no doubt helped keep the agency solvent, as the declining value of the dollar boosts demand for US output overseas.

Unlike some West Coasts ports that are struggling with financial difficulties due to overexpansion or a decline in business, the Port of Portland appears generally healthy. Fitch Ratings assigned AA+ and F1+ ratings to $138.9 million of revenue bonds issued by the agency last month. The regional economy also appears to be faring well. The 2008 Greater Portland Prosperity Index issued in July by Greenlight Greater Portland, a local consortium of representatives from major private employers, forecasts the metro area will add 100,000 jobs and see its gross regional product grow 29.1% to $144.1 billion in the next five years.