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The March Madness Economic Stimulus Package

In Oregon, the unemployment rate hit a staggering 10.8% as more Oregon businesses close their doors or lay off employees as the local economic situation seems to only worsen there, placing Oregon among the top four or five states hardest hit by the recession. However, an unlikely event will act to inject $10 million dollars in badly needed funds into the Portland, Oregon economy. March Madness.

At least 8 national basketball teams will be playing in the Portland, Oregon Rose Garden which is the normal home court of the Portland Trailblazers which will be retrofitted for a national TV audience as CBS and other media bring massive crews of cameramen, technicians and producers will fill local hotels and restaurants. The March Madness economic stimulus effect will bring a great deal of cash into the local economy and will likely spur some more employment as businesses scramble to be able to serve such a huge influx of tourists into the city.RoseGarden.jpg

Portland, Oregon can sure use this huge cash influx. So many large Oregon industries have suffered during this recession and Chinese and Asian imports through the Port Of Portland are way down with the global recession as well.

March Madness will not only provide a great event for college basketball players to compete in, provide a great TV sports event, but will also help to bail Portland, Oregon out of it's deep economic distress caused by this serious global recession. Hopefully, March Madness will be one economic stimulus event that liberals, conservatives, Democrats and Republicans can all rally around and enjoy.


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Comments (2)

epador:

Great for the Peoples' Republic, but as usual, ya'll firgit that there is a pretty big State out there that Portland sucks revenue from with little recompense.

The March Madness I'm seeing out in the boonies has mostly to do with frustration and poverty, not basketball.

Paul Hooson:

Hello Epador. I owned a TV shop back a few years ago, and minimum wage workers at the Red Lion Motor Inn by the Memorial Coliseum were good customers of mine to buy used reconditioned TVs because they couldn't afford to buy new Tvs on their low incomes. This included many maids and restaurant workers. More events at large arenas like this will provide at least minimum wage hotel and restaurant jobs for persons, and they will in turn spend this money in the local community, often at smaller discount businesses such as I often ran.

$10 million dollars of cash stimulus into the local community will have the effect of pulling a lot of people up, for at least a short term.

Regrettably, there is a crazy plan to tear down the Memorial Coliseum, which is supposed to be a memorial to the veterans, and build some baseball or soccer park. However, as I addressed in an earlier post, neither baseball nor soccer has proven itself to be a big draw in Portland. The Memorial Coliseum would make a great venue for more concert shows and trade show events, and certainly should not be torn down in my view.


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Publisher: Kevin Aylward

Editors: Lee Ward, Larkin, Paul S Hooson, and Steve Crickmore

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