Made in Old Town: A Manufacturing Startup's Downfall
Portland News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Made in Old Town Manufacturing Startup Fails, Leaving Portlands Old Town in Limbo
A manufacturing startup, Made in Old Town, has abandoned its plans to establish a shoe-making business in Portlands Old Town neighborhood, leaving behind empty buildings and a disappointed community. The company, which had secured a $7 million loan from Prosper Portland, was unable to overcome challenges such as tariffs, economic slowdowns, and market fluctuations. Local businesses and partners, including CityTeam Portland, had high hopes for the project as a boost for the neighborhood and a fit for broader revitalization efforts. The city councilor had raised concerns about the loan, which broke normal rules and strayed from Old Towns original action plan. Prosper Portland now holds a lien on the buildings and is considering all options, including taking ownership. Neighbors remain hopeful for a positive development to revitalize the area.
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