Portland mayor’s office reacts to U.S. Bank departing ‘Big Pink’

PORTLAND, Ore. ( KOIN ) — Portland city leaders are keeping an optimistic outlook about downtown’s ability to bounce back economically after U.S. Bank announced it would be departing from the iconic “Big Pink” tower after more than 40 years.

The rose gold-colored U.S. Bancorp Tower itself will remain in its place as that unmissable shimmering skyscraper that greets commuters as they enter the central city via Burnside Bridge. The mayor’s office said it has supported a business, LegitScript, moving into the building.

KOIN 6 contacted to Portland Mayor Ted Wheeler’s office to get his reaction to U.S. Bank’s exodus from the building . Wheeler did not provide a statement himself.

However, the office’s Communications Director Cody Bowman released a statement via email saying, in part, great strides have been made in bolstering the business landscape of downtown, including a recent reduction in crime rates, expanding a business tax incentive that has attracted more new businesses to open shop and seeing an increase in foot traffic .

“Mayor Wheeler is grateful to the numerous businesses, big and small, who have recently opened or signaled their commitment to staying in Portland. The Mayor continues to prioritize resources to Portland’s central city to ensure that our downtown core is a safe and welcoming place for all people to live, work, and visit. I encourage you to review the Mayor’s Central City Recovery Plan for an overview of this effort.

“ We are continuing to see promising data trends in crime rates , a 16% increase in business openings in 2023 (including Hoka, The Ritz Carlton , SoHo House , and Daimler Truck North America), notable increases to downtown foot traffic , progress on homelessness , and we led in the development of a business tax incentive to encourage businesses to lease office and retail space.

“ The Mayor’s office frequently meets with prospective businesses looking to relocate to central Portland to provide guidance and support in the process. (Earlier this year we supported LegitScript moving to the Big Pink building.) The Mayor will continue to lead and prioritize these efforts until his final day in office.”

In a statement to KOIN 6 on Wednesday, a U.S. Bank spokesperson said the company would not be reducing any staff. Instead, some employees will be moved to other offices in the central city and hundreds of others will move to offices outside of downtown.

Many will relocate to a facility in Gresham, the company said.

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