In Oregon, the unemployment rate hit a staggering 10.8% as more Oregon businesses close their doors or lay off employees as the local economic situation seems to only worsen there, placing Oregon among the top four five states hardest hit by the recession. However, an unlikely event will act to inject $10 million dollars in badly needed funds into the Portland, Oregon economy. March Madness.
At least 8 national basketball teams will be playing in the Portland, Oregon Rose Garden which is the normal home court of the Portland Trailblazers which will be retrofitted for a national TV audience as CBS and other media bring massive crews of cameramen, technicians and producers will fill local hotels and restaurants. The March Madness economic stimulus effect will bring a great deal of cash into the local economy and will likely spur some more employment as businesses scramble to be able to serve such a huge influx of tourists into the city.
Portland, Oregon can sure use this huge cash influx. So many large Oregon industries have suffered during this recession and Chinese and Asian imports through the Port Of Portland are way down with the global recession as well.
March Madness will not only provide a great event for college basketball players to compete in, provide a great TV sports event, but will also help to bail Portland, Oregon out of it's deep economic distress caused by this serious global recession. Hopefully, March Madness will be one economic stimulus event that liberals, conservatives, Democrats and Republicans can all rally around and enjoy.
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