Metrofactual

Don’t bet on the weather? So much for conventional wisdom.

Venture capitalists regionally and nationally are throwing great heaps of money into the sun and wind, as renewable energy becomes the new rock star of sectors for investors.

Investment in the “energy/industrial” sector nationwide grew at a wind-whipped rate of 261% from 2002-2007, according to PWC MoneyTree. And in the Northwest (Oregon, Washington, Idaho, Montana, Wyoming), it’s been a gale force, with the growth of venture capital to energy firms soaring off the charts at 3,924%.

Renewable energy firms in the Northwest drew $158 million in 2007, while nationwide the sector attracted nearly $3 billion.

The Portland-Vancouver region is positioned to grow its portion of those dollars, especially as our solar cluster gains momentum (SolarWorld, Solaicx, Mr. Sun Solar). Solar companies, according to the Business Journal, have pumped nearly $500 million into Oregon’s economy in the last few years.

More metrofacts:

Venture capitalists’ favorite sectors in 2007 were…

software ($5.2 billion national, $316 million Northwest).

biotech ($5.2 billion national, $265 million Northwest).

medical devices ($3.9 billion national, $198 million Northwest).

The folks at Americans for the Arts have long known that arts are good for our economic health. But just how good? They looked deeper.

Conducting a comprehensive study of the nation’s arts and culture industry, the advocacy organization documented that nonprofits alone generate $166.2 billion in economic activity annually and provide 5.7 million FTE jobs.

That’s sweet for Portland, which ranks sixth among the top 50 US cities for arts-related businesses, non- and for-profit, per thousand residents. With Portland home to some 2,194 arts businesses, from museums, symphonies, theaters and dance studios to film, architecture and advertising companies, we’ve got ourselves a powerful economic steam engine.

“Most Americans understand that the arts improve our quality of life,” says Americans for the Arts CEO Robert L. Lynch. “This study demonstrates that a vibrant arts and culture industry helps local businesses thrive.”

Arts in America’s newest study, Creative Industries, documents both non- and for-profit arts businesses and workers in communities across the US. To find out how they stack up, check out http://www.artsusa.org/information_services/research/services/creative_industries/default.asp

More metrofacts:

While San Francisco, LA, Denver and others saw a decline in arts businesses from 2006-2007, Portland’s increased by 1%.
Among the Portland-metro region’s artsy businesses are 110 tattoo parlors.