Prosper Portland

From heavy equipment to packaged foods, Portland is a town for makers and manufacturers. One of Portland’s fastest-growing manufacturing sectors is food and beverage consumer packaged goods, which employs more than 35,000 workers in the Portland area.

The industry’s culture of innovation and excellence is perhaps best exemplified in local icon Smith Teamaker (). Started in 2009 by local entrepreneur Steven Smith, founder of Stash Tea and cofounder of Tazo Tea, the local brand has grown from an artisan shop in Northwest Portland into one of the most recognizable names in teamaking, employing 110 employees locally. Their products can be found in stores, restaurants, and hotels across the globe, including Olympia Provisions, Nordstroms, New Seasons Market, Whole Foods, and Costco.

Part of the Business Advancement Team at Prosper Portland, the Food & Beverage Consumer Packaged Goods (CPG) program partners with businesses like Smith Teamaker, providing the right blend of support in key areas including access to capital, space, and talent that businesses need to grow. Prosper Portland is proud to work closely with Smith Teamaker to support the expansion of their operations in Portland, including a recent working capital loan to help them acquire new inventory.

"Smith has deep Portland Roots. Our partnership with Prosper Portland enables us to continue supporting job creation in the city we call home, while sharing our Portland story with customers across the country,” said Darren Marshall, CEO of Smith Teamaker.

If you’re a Portland food and beverage maker, processor, or packager, Food & Bev CPG is here to help. Learn more at portlandfoodandbev.com.

Prosper Portland and the Portland Housing Bureau (PHB) are recruiting applicants to serve on the Community Leadership Committee (CLC) for the Cully Tax Increment Finance (TIF) district. The CLC advises PHB and Prosper Portland staff, the Portland City Council, and the Prosper Portland Board of Commissioners by providing essential guidance, public recommendations, and oversight of the City’s development and implementation of the Cully TIF District 5-Year Action Plan.

The Cully TIF District 5-Year Action Plan, adopted by City Council in April 2026, was developed through a co-creation process between the CLC and the City. The plan guides the investment of approximately $31 million to affordable housing and economic development programs in alignment with the plan’s anti-displacement and stabilization goals.

If you live, work, volunteer, worship, have children enrolled in school, or have been displaced from within the Cully TIF District, consider being a part of the Cully TIF CLC. Apply at ProsperPortland.us/CullyCLC - applications will be accepted until Friday, October 16.

Hispanic & Latiné Heritage Month runs from mid-September to mid-October! 🎉 We’re proud to celebrate the vibrant culture, rich history, and brilliant entrepreneurs and organizations of Portland’s Hispanic and Latiné communities. Portland has an amazing lineup of events celebrating Hispanic & Latiné Heritage Month, as well as local organizations supporting and celebrating these communities.

What are some of your favorite local events celebrating Hispanic & Latiné Heritage Month? Feel free to tag them in the comments below.

Last week, Mayor Keith Wilson was joined by Senator Ron Wyden, Senator Jeff Merkley, State Representative Rob Nosse, Prosper Portland Executive Director Cornell Wesley, and staff from Prosper Portland’s Business Advancement Team to celebrate the grand opening of OpConnect's new facility in Southeast Portland.

This expansion is a major milestone for the company as they scale local manufacturing for electric fast chargers, adding 45 new jobs over the next five years. OpConnect’s charging infrastructure is already in place supporting critical local fleets at the City of Portland, Multnomah County, Beaverton School District, and Portland General Electric. The company’s growth directly drives Portland's climate goals and our city's transition toward net-zero carbon operations by 2050.

Prosper Portland has partnered with OpConnect for more than a decade, supporting their journey from a local startup into a vital pillar of our green economy through strategic financing—including a $2 million business loan and a $100,000 forgivable job-creation loan—alongside workforce grants, investor connections, and participation in Portland Means Progress.

Prosper Portland's Business Advancement Team helps manufacturers and other traded sector businesses grow by providing support and identifying opportunities that foster the creation of living wage jobs for all Portlanders. To learn how they can assist your business, visit prosperportland.us/BAT

Pictured:
Slide1 – (L-R) State Representative Rob Nosse, U.S. Senator Jeff Merkley, OpConnect Founder/CEO Dexter Turner, U.S. Senator Ron Wyden, Mayor Keith Wilson
Slide 2 – OpConnect Founder/CEO Dexter Turner
Slide 3 – (Top) OpConnect Founder/CEO Dexter Turner speaks at the ribbon-cutting ceremony. (Bottom, L-R) Mayor Wilson, Sen. Merkley, Dexter Turner, Sen. Wyden
Slide 4 – (Top) Prosper Portland staff with Mayor Wilson, Sen. Wyden, Sen. Merkley, and CEO Dexter Turner. (Bottom) Prosper Portland staff with Angela Jackson of Portland Seed Fund

July was a busy month! Today, we’re highlighting just a few moments from the past month spent with the businesses and community partners that help make Portland great.

Photo 1: Executive Director Cornell Wesley and staff joined Palindrome Communities to break ground on The Perry, a new $54.5 million multifamily residential project in the Lents Town Center Tax Increment Finance (TIF) District. Prosper Portland provided a $10.8 million loan and a long-term ground lease for this project, which will transform a long-vacant parcel into 171 units of much-needed housing. The Perry is scheduled for completion in October 2027.

Photo 2: Prosper Portland took part in this year’s PNW Climate Week, which featured many of the innovative projects happening in Portland and across Oregon. Executive Director Wesley and Green Cities Industry Liaison Katherine Juengel spoke at an interactive event entitled “Climate Innovation at Work.”

Photo 3: REAP USA () recently celebrated the grand opening of its new Behavioral Health Clinical Building in Gateway with a ribbon-cutting ceremony. As part of the day's celebrations, Executive Director Wesley led a Q&A panel during the organization's annual Next Gen Market with .

Photo 4: (Top) Prosper Portland leadership joined 1803 Fund () for a walking tour and boat tour of 1803’s planned transformation of The Low End in the Albina neighborhood.
(Bottom) Staff from the Entrepreneurship and Community Economic Development team met with city and federal officials to share more about the team's work with federal Community Development Block Grant funding.

This Wednesday, Portland City Council voted unanimously to reappoint Marcelino Alvarez and Eric Cress to the Prosper Portland Board of Commissioners.

Marcelino Alvarez is the CEO of Photon Marine, which is building the world's most powerful and intelligent electric outboard motor system, tailored to commercial boat fleets. He was first appointed to the Board in September 2023.

Eric Cress is a real estate principal and civic leader with nearly two decades of executive leadership in the real estate sector. He currently serves as President and Founder of Urban Development + Partners (UDP). Commissioner Cress was appointed to fill a vacancy on the Board in March 2026; he now begins a full three-year term.

Congratulations and thank you for service to the City of Portland, Commissioners! We’re fortunate to have your expertise guiding our work.

(Pictured, Left to Right: Executive Director Cornell Wesley, Commissioner Marcelino Alvarez, Commissioner Eric Cress, and Chair Gustavo Cruz.)