Oregon and Portland invest in Moda Center modernization

Gov. Tina Kotek today signed Senate Bill 1501, creating a pathway toward shared ownership of the 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.

The Moda Center is a significant economic driver, attracting 1.6 million visitors annually. It 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.

Gov. Kotek commented on the bipartisan effort to pass the bill.

"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," 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."

Dewayne Hankins, President of Business Operations for the Portland Trail Blazers and Rip City Management, highlighted the future event opportunities. Hankins stated that Portland will host the 2030 NCAA Women's Final Four, bringing visitors from across the country. He noted that a renovated Moda Center could attract events like an NBA or WNBA All-Star weekend. Hankins also shared that recent Trail Blazers playoff games generated about $1.2 million of economic activity, according to economists at ECONorthwest.

Oregon Senate President Rob Wagner spoke about the arena's long-standing role as a community gathering place. Wagner noted that for more than 30 years, the arena has hosted basketball games, concerts, rodeos and graduations.

"Now, we have the chance to build on that legacy," Wagner said. "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 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. Albina Vision Trust Executive Director Winta Yohannes emphasized the importance of the deal's broader impact.

"The success or failure of SB 1501 will be determined by how this deal ultimately impacts an entire neighborhood, not just an arena," Yohannes 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."

Portland Mayor Keith Wilson detailed the local economic benefits that events at the arena generate. Wilson explained that a single sporting event at the Moda Center can activate up to 7,000 hotel rooms, bringing people directly into the Lower Albina neighborhood.

"A fully renovated facility means even more: more events, more nights, bigger shows and more economic activity," Wilson said. "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 the 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. This also requires an approved project scope, budget, schedule and financial commitments from both the City of Portland and Multnomah County. 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.

The negotiation process for the binding, 20-year lease commitment and other project details will be led by the state. The state will work with experts experienced in similar state-arena partnerships.