Portland’s construction market has remained very stable and steady for the last few years, and we expect that trend to continue. The pandemic caused a lull in construction volume, but it is expected to make a full recovery this year.
Some of the largest projects here are related to things like light rail and highways, with plans to expand the city’s streetcar network and a bridge across the Columbia River taking center stage.
The State of Oregon is planning to lift most restrictions when more than 70% of the population is fully vaccinated, and this should happen in the next few weeks. Even as the Delta variant raises concerns, the state is going ahead with this plan. Unemployment and construction employment still have some distance to go before returning to pre-pandemic levels, but recovery will only accelerate as the state reopens.