Portland’s Values Speak To New Wave Bankers

by | Aug 24, 2011

Bank Simple, seeks to reinvent personal banking with modern online and mobile experiences, no surprise fees, and great customer service.

In order to do that, the company is consolidating its San Francisco and New York City offices and moving staff to Portland, where they intend to hire several more people.

A proud Mayor Adams says, “This company’s willingness to pick up and move here is another sign that the City of Portland’s Economic Development Strategy is on the right path to strengthen Portland’s economy. Two years ago, we put the plan in place and made sure to identify the Software Sector as a key industry cluster.”

“With BankSimple’s move, I feel that we made a right decision to focus on software and am optimistic that more companies are soon to follow,” says the Mayor, who is not running for re-election.

The other clusters that Portland officials are focusing on include Advanced Manufacturing, Clean Tech, (Academic) Research & Commercialization and the Athletic & Outdoor Industry.

BankSimple joins a growing list of venture-backed software startups such as AppFog, Elemental Technologies, JanRain, Puppet Labs, ShopIgniter, Thetus Corporation and Urban Airship.

Naturally, there are also software start-ups that are not venture backed. And I can think of plenty of other industries in Oregon that are in a good place to grow. The music and film industries, the green building and alternative energy industries, sustainable agriculture, food and beverage, professional services, tourism, retail and hospitality are all sectors that I have my ad guy’s eye on.

Yes, the economy in Oregon is sobering still, but there are signs that a turnaround is in the cards.