Governor Kotek Celebrates Bill to Modernize 'Oregon's Arena'

Portland, OR - Today, Governor Tina Kotek joined local and state leaders, community leaders, and representatives from the Portland Trail Blazers and the Portland Fire to commemorate the signing of Senate Bill 1501, which creates a pathway toward shared ownership of Moda Center between the State of Oregon and the City of Portland. The bill also invests in modernizing the arena to expand opportunities for world-class events and strengthen economic growth in the Lower Albina neighborhood.

"This bill helps to ensure the future of Oregon's NBA legacy by creating a world-class arena for games, performances, and other activity to support Oregon's economy and Portland's economic renaissance," Governor Kotek said. "Moda Center is a publicly owned, economic anchor for our state. We can all be proud of how local and state leaders came together in a bipartisan fashion to ensure Portland will remain 'Rip City' for years to come."

Moda Center draws 1.6 million visitors annually and generates an estimated $670 million annually in regional economic impact, including $113 million in direct visitor spending. Nearly 4,500 jobs are tied to arena operations and tourism.

"The opportunities ahead are significant: In 2030, Portland will host the NCAA Women's Final Four, bringing visitors and attention from across the country. With a renovated Moda Center, events like an NBA or WNBA All-Star weekend will be within reach," Dewayne Hankins, President of Business Operations for the Portland Trail Blazers and Rip City Management, said. Hankins also shared that the Trail Blazers playoff games this weekend generated about $1.2 million of economic activity, according to economists at ECONorthwest.

"For more than 30 years, Oregon's Arena has delivered for this state. From basketball games and concerts to rodeos and graduations, this arena has served as a gathering place," Oregon Senate President Rob Wagner (D - Lake Oswego) said. "It has hosted moments that brought Oregonians together and attracted visitors from far beyond our borders. Now, we have the chance to build on that legacy. A modernized, publicly owned arena positions Oregon to compete for the biggest national events - the kinds of events that fill hotels from Portland to the coast, drive tourism spending at small businesses statewide, and showcase Oregon on a national stage. Every generation invests in spaces that bring people together; this is ours."

Major redevelopment is also underway in the Rose Quarter and Lower Albina neighborhood, including efforts by the Albina Vision Trust to reconnect and reinvest in a historically displaced community. Modernizing "Oregon's Arena" will help attract residents and visitors, support small businesses, and strengthen community ties through improved access to major sports and entertainment events.

"The success or failure of SB 1501 will be determined by how this deal ultimately impacts an entire neighborhood, not just an arena," Winta Yohannes, Executive Director of Albina Vision Trust said. "We are here to ensure that the renovation of the Moda Center meaningfully and materially advances the generational prosperity of the people who will once again call Lower Albina home."

"A single sporting event at the Moda Center can activate up to 7,000 hotel rooms. It brings people into our community and directly into the lower Albina neighborhood," Portland Mayor Keith Wilson said. "A fully renovated facility means even more: more events, more nights, bigger shows, and more economic activity. And that activity, in turn, generates tax revenue that supports our most critical public services."

Portland is also welcoming back the Portland Fire, with WNBA games starting this year. Leaders noted that modernization of Moda Center, combined with major redevelopment in the surrounding area, represents billions of dollars in investment and a once-in-a-generation opportunity to rebuild community wealth.

No state bonds will be issued for the modernization project without a binding, 20-year lease commitment from the Trail Blazers, approved project scope, budget, and schedule, and financial commitments from both the City of Portland and Multnomah County. The negotiation process will be led by the state, working with experts experienced in similar state-arena partnerships. The project will be funded through a dedicated Oregon Arena Fund, which draws on revenues tied directly to venue activities, ensuring no increased tax burden on Oregonians while delivering facility upgrades that will stimulate economic activity statewide.

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