Economic Report Supports Center

A new independent economic impact analysis commissioned by the city of Portland confirms that the proposed Performing Arts + Culture Center at Portland State University will deliver greater long-term economic impact while strengthening the city’s arts ecosystem and supporting downtown.

The study, conducted by Hunden Partners, does a direct comparison of the economic impact of a City-owned 3,200 seat Broadway-capable venue at the multi-use Performing Arts + Culture Center versus a renovated Keller Auditorium. Hunden’s side-by-side venue comparison indicates that even without taking into consideration the multi-use Performing Arts + Culture Center’s multiple other elements, its large venue will generate 16% more spending, earnings and jobs than a renovated Keller Auditorium, along with 8% higher attendance and 12% greater operating revenue.

The analysis builds on an earlier market feasibility study that determined Portland’s market cannot support two Broadway-capable venues. With the path forward narrowed to a single venue, the economic report directly compared a renovated Keller Auditorium against the proposed new 3,200-seat theater in the Performing Arts + Culture Center. To create an apples-to-apples comparison, the economic analysis did not include the significant additional revenue expected from the Center’s second 1,200-seat venue, new hotel, conference center, restaurants, and other performance, rehearsal and educational spaces.

“The latest report reinforces that this project is the right long-term investment for Portland’s arts ecosystem,” said Sarah Schwarz, Portland State University Foundation president. “It brings together the touring Broadway shows of tomorrow, local performances and arts organizations, and student learning in a way that keeps downtown active and connected to the arts. We want to thank the city for a productive process, and we look forward to continued conversations about how to make this a reality.”

The Performing Arts + Culture Center is projected to generate approximately $98.2 million in total annual economic impact, compared to $84.9 million for a renovated Keller Auditorium. The PSU project would support 378 jobs, generate $17.9 million in annual earnings and contribute approximately $1.8 million in transient lodging taxes each year. It will also avoid the $50 million per year in negative economic impact from a closure of the Keller auditorium.

Beyond the numbers, the Center is envisioned as a year-round cultural hub that stays active throughout the day and evening. It is designed as a place where students, artists, performers, workers, audiences and visitors all come through and share the same space over time.