Is Amazon planning to open an office in Portland?
In 2015, Amazon bought out Portland’s Elemental Technologies. At that point, the Portland Business Journal began speculations that the purchase could signal a much bigger Amazon presence in Portland in the coming years. They were talking potential Intel sized expansion with multiple campuses since Intel began with just one campus all those many years ago. There are few businesses with the financial capability to support multiple campuses, but Amazon is definitely one of those businesses.
There is no confirmation from Amazon yet, but apparently the word around town; according to Portland Business Journal reporter Malia Spencer is that Amazon is recruiting developers for a Portland office. Rumor has it that interviews will begin in July and positions could be filled as early as August this year.
What does a big Amazon presence in Portland mean for our housing market?
More jobs for those in the higher income levels means more competition for a housing market that can’t keep up with demand already. This generally signals that our housing prices will continue to rise. We’ll just have to watch to see how this all pans out this summer and beyond.