Transportation package announced, tech sector growth slows and Lattice sale in trouble.
Legislature unveils transportation package
Lawmakers propose an increase to the state gas tax, as well as fees on vehicles, bicycles and a new payroll tax to fund infrastructure investment, the Register Guard reports. The proposal would raise $8.2 billion in the next decade. If approved, the plan would raise $500 million in 2018 and begin to raise $1 billion by 2026 after a series of automatic tax increases. The plan proposed in 2015 raised $350 million annually.
Tech sector cooling down
For the last several years, the tech industry has been the fastest growing sector in Oregon. That’s changed. Few new jobs were added in 2016, and the average tech wage isn’t growing as fast as the Oregon average, the Bend Bulletin reports. Another problem for the industry is that nearly all of Oregon’s large tech companies have been sold to out-of-state businesses.
Lattice Semiconductor sale in trouble, again
The Portland company announced plans to sell for $1.3 billion six months ago. That sale to Chinese investors has yet to close. As the sale awaits completion, Lattice’s shares continue to drop — now at $6.64, down from the $8.30 offered by purchaser Canyon Bridge Capital Partners — the Oregonian reports. The deal needs federal approval. The initial review period expired without a ruling in March, forcing Lattice to resubmit its application.
Uber, Lyft finally get green light in Salem
The City Council held its final public hearing Monday evening to consider permitting rideshare services like Uber to operate within city limits. The ordinance passed with little discussion, the Statesman Journal reports. Service is expected to begin June 7.
Biketown could expand
It’s only been a year since Portland’s streets were flooded with bright orange bicycles. But the city is already proposing an expansion to the bike-share program, OPB reports. The expansion would increase access to Northeast Alberta and Southeast Belmont and Hawthorne. The new stations would be open to private bike users.
Avangrid Renewables investing in wind energy — at Martha’s Vineyard
Portland’s Avangrid is forming a partnership with Vineyard Wind, the Portland Business Journal reports. The project, due to be complete in 2020, will generate 1,600 megawatts (enough to power 750,000 homes annually).
OB Original Blog: Lawsuits, entitlement costs threaten health care, former CEO says
Mike Schwab, former CEO of the Portland Clinic, outlines two problems with the medical delivery system in this country.