Prosper Portland -- Intro

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City of Portland Fiscal Year 2026-27 Proposed Budget Community & Economic Development > Prosper Portland Prosper Portland Budget Revenues by Major Object 2023-24 Actuals 2024-25 Actuals 2025-26 Revised Budget 2026-27 Proposed External Revenues Intergovernmental $3,004,517 $6,025,610 $0 $0 Miscellaneous Fund $0 $0 $3,579,203 $3,150,834 Allocation Internal Revenues Beginning Fund Balance ($840,163) $0 $0 $0 General Fund $12,870,094 $18,286,564 $17,239,957 $13,067,137 Discretionary Miscellaneous Fund $0 $0 $0 $0 Allocation Grand Total $15,034,449 $24,312,174 $20,819,160 $16,217,971 Expenses Expenses by Major Object 2023-24 Actuals 2024-25 Actuals 2025-26 Revised Budget 2026-27 Proposed Bureau Expense $24,385,666 $22,294,913 $20,819,160 $16,217,971 External Materials and $24,385,666 $22,294,913 $20,819,160 $16,217,971 Services Grand Total $24,385,666 $22,294,913 $20,819,160 $16,217,971 Expenses by Program Offer 2023-24 Actuals 2024-25 Actuals 2025-26 Revised Budget 2026-27 Proposed Accounting ($3,412,874) $3,594,006 $0 $0 Administration & Support $0 $0 $0 $496,266 Business Advancement $1,491,843 $2,093,622 $3,267,662 $2,718,033 385

City of Portland Fiscal Year 2026-27 Proposed Budget 2023-24 Actuals 2024-25 Actuals 2025-26 Revised Budget 2026-27 Proposed Community Based District $874,531 $1,152,633 $1,952,530 $1,365,629 Support Community Economic $12,813,765 $2,771,072 $223,763 $0 Development Inclusive Entrepreneurship $6,452,057 $3,029,038 $4,647,813 $2,816,691 Office of Events and Film $1,635,092 $1,996,276 $1,426,542 $1,237,695 Office of Small Business $0 $425,990 $1,910,632 $1,116,088 Reimagine Oregon $0 $2,358,765 $2,151,460 $2,044,760 Small Biz & Middle Income $0 $1,477,327 $2,512,795 $2,341,762 Hsg Fin Assist Small Business Tenanting $0 $662,138 $687,140 $707,754 & Leasing Venture Portland $1,053,447 $906,617 $0 $0 Workforce Development $3,477,806 $1,827,429 $2,038,823 $1,373,293 Grand Total $24,385,666 $22,294,913 $20,819,160 $16,217,971 Positions - FY 2026-27 Proposed Budget FTE Grand Total Performance Performance Metrics - Fiscal Year Program Offer Measure Polarity FY 2022 - 23 FY 2023 - 24 FY 2024 - 25 Bureau-wide WORKFORCE READINESS: Number of Higher Is 1,632 1,639 1,695 workers provided training and/or Better workforce placement through City-funded programs Bureau-wide SMALL BUSINESS ASSISTANCE: Number Higher Is 785 1,059 1,089 of small businesses helped through Better technical or nancial assistance Business Advancement Number of Businesses receiving Higher Is 264.0 441.0 382.0 Technical Assistance (nancial resources, Better connections, education) related to growth or inclusion through Business Advancement Team programming Business Advancement Cumulative local investment and spend Higher Is NA $125,636,000.0 $423,686,000.0 through Enterprise Zone and business Better expansion programming FY 2023-24 to FY 2028-29 386

City of Portland Fiscal Year 2026-27 Proposed Budget Program Offer Measure Polarity FY 2022 - 23 FY 2023 - 24 FY 2024 - 25 Business Advancement TRADED SECTOR GROWTH: Cumulative Higher Is NA 25 52 number of traded sector businesses that Better moved or expanded within Portland with support from Prosper Portland from FY 2023-24 to FY 2028-29 Inclusive Entrepreneurship Total Mercatus members Higher Is 1,414.0 2,176.0 2,377.0 Better Inclusive Entrepreneurship Total number of businesses served via Higher Is 526.0 766.0 832.0 technical assistance Better Inclusive Entrepreneurship Total percentage of clients who obtained Higher Is NA NA 34.0% signicant capital, opened a physical Better location, or became a small business owner Oce of Events and Film Number of grants disbursed in support of Higher Is 11.0 10.0 29.0 local lm makers Better Oce of Events and Film Number of grants and sponsorships to Higher Is 105.0 96.0 13.0 events supporting economic and cultural Better revitalization Oce of Events and Film Local spend by audited lm productions Higher Is $122,825,000.0 $144,250,000.0 $144,000,000.0 Better Oce of Small Business Number of unique businesses served by Higher Is NA NA 181.0 the Oce of Small Business Better Reimagine Oregon Total number of Reimagine Oregon grants Higher Is NA NA 53.0 awarded Better Reimagine Oregon Total dollars in Reimagine Oregon grants Higher Is NA NA $6,325,000.0 awarded Better Small Biz & Middle Income Hsg Number of loans provided to clients Higher Is NA NA 16.0 Fin Assist Better Small Biz & Middle Income Hsg Dollars of loans provided to clients Higher Is NA NA $33,300,000.0 Fin Assist Better Small Business Tenanting & Total square footage of leased space to Higher Is NA NA 140,000.0 Leasing businesses Better Small Business Tenanting & Number of businesses leasing Prosper Higher Is NA NA 25.0 Leasing Portland-managed real estate Better Workforce Development Number of participants who received Higher Is 1,632.0 1,639.0 1,695.0 services through workforce development Better programs Workforce Development Total number of participants placed in Higher Is NA NA 296.0 employment or post-secondary education Better Performance Metrics - Calendar Year Program Measure Polarity 2022 2023 2024 Offer Bureau-wide QUALITY JOBS: Percentage of workers in Portland Higher Is 56% 58% 58% able to meet basic income needs Better 387

City of Portland Fiscal Year 2026-27 Proposed Budget Program Measure Polarity 2022 2023 2024 Offer Bureau-wide ECONOMIC GROWTH: Real Gross Domestic Product Higher Is $76,700,000,000 $76,900,000,000 $80,200,000,000 for the city of Portland Better Overview As the economic and urban development agency for the City, Prosper Portland’s vision is to make Portland one of the most globally competitive, healthy, and equitable cities in the world. The agency delivers economic development programs that support small businesses and traded sector industries, improve access to workforce training, and create jobs. The agency supports development by investing resources to advance small business, commercial properties, and mixed-use projects within Tax Increment Finance (TIF) districts and citywide. The agency applies business development and technical assistance, community capacity and workforce development training, and commercial and infrastructure investments to achieve these strategic objectives. This work prioritizes efforts to build an equitable economy, especially with and for communities of color and those who have been historically underserved. Resources from the City’s General Fund and Recreational Cannabis Tax fund allow Prosper Portland to fulfill job growth, small business support, and community capacity goals that are not eligible for funding through TIF. These resources extend the agency’s work beyond TIF district boundaries and real estate investments to provide critical non-physical development assistance that supports business growth and economic opportunity through staff expertise, working capital, and technical assistance. By city charter and state statute, Prosper Portland is a separate legal entity from the City, led by an executive director and governed by a five-member, volunteer Board of Commissioners appointed by the Mayor and confirmed by City Council. Summary of Budget Decisions Expanding Prosperity Investment Program Grants Citywide This will fund a key action item in the Supporting Portland’s Storefronts report, enabling Prosper to expand the Prosperity Investment Program grant, a matching funds program for tenant improvements, beyond TIF districts. The average grant allocated is $45,000. Addressing Expiring Funds Supporting Economic and Workforce Development During the FY 2025-26 budget process, Prosper Portland's ongoing General Fund was reduced from $14.7 million to $11.1 million, with $2.1 million added back as one-time funding expiring in FY 2026-27. Prosper will address $1.08 million of the expiring funds as part of the recent reduction in force that reduced 10 existing positions that support economic and urban development activities. This funding is not included as an add-back. The Mayor is requesting an addback of $1.03 million in one-time funds to continue support for the Adult & Youth Workforce Development program. (This represents three decision packages.) Reduction in Workforce Development This reduction will mean one of three cuts: 1) the elimination of the EOP (600 adult participants); 2) NextGen (500 youth participants); or 3) the reduction of the Community Workforce Navigator Program (250 fewer adult workforce participants). Reduction in Small Business Support The Inclusive Entrepreneurship program will also be reduced, eliminating access to small business technical assistance for 175 small business owners. This would also eliminate 2-3 partners from the network, likely resulting in impacts on partner organization staff, and reducing community-based capacity to deliver business advising and technical assistance support. At this time, it is unknown which organizations would be impacted by the funding loss. 388

City of Portland Fiscal Year 2026-27 Proposed Budget Total anticipated net service level reduction from the combination of changes in ongoing and one-time funding, as well as changes in other, non-General Fund expiring one-time funding is estimated to be 900 workforce participants (56% decrease from FY26) and 175 fewer small businesses served (31% decrease to IBRN from FY26). 389

Parent: Prosper Portland