Regional Performance Over Time Case Study: The Bend-Redmond, Ore. Metropolitan Statistical Area
How a region copes with economic challenges is as important to its long-term prosperity as how it grows in good times. Certain regions, such as the Bend-Redmond metropolitan statistical area in Oregon, have been able to rebound more quickly from an economic downturn than their peers. What factors were most impactful, and are they unique to the region? Or are there approaches that could be adopted in peer cities? This case study aims to illuminate the characteristics, choices, and strategies that contributed to its revival.
The Bend-Redmond metro suffered substantial losses in employment and property values during the last recession. As it emerged from the downturn, gains came quickly, faster than in peer regions. But amid the recovery, Bend-Redmond has not simply returned to previous form. The economy has changed, and there are signs that the region may be better prepared for the next economic challenge and other cities may be able to learn from its experience
The “Regional Performance Over Time” research aims to use the experiences behind the numbers to offer decision-makers in peer regions a suite of best practices to consider as they pursue robust, sustained prosperity for their communities. In an earlier paper, we grouped cities with similar industrial profiles using a cluster analysis and evaluated performance over time on the Best-Performing Cities index within groups. This approach identified cities that had outperformed their peers. Future case studies will be drawn from this pool.