PORTLAND, Ore. (Apr. 27, 2026) — Gov. Tina Kotek on Monday joined state and local officials, community leaders and representatives from the Portland Trail Blazers and Portland Fire to celebrate the signing of $365 million Senate Bill 1501, legislation intended to modernize the Moda Center and create a pathway for shared ownership of the arena between the state and the city of Portland.
Supporters said the measure will help secure the long-term future of the Trail Blazers in Oregon while boosting tourism, jobs and economic development tied to sports, concerts and other events. Critics, however, questioned whether public resources should be used to support a professional sports facility when the state faces competing priorities such as housing, education and homelessness.
“This bill helps to ensure the future of Oregon’s NBA legacy by creating a world-class arena for games, performances, and other activity to support Oregon’s economy and Portland’s economic renaissance,” Kotek said in a statement.
The Moda Center draws about 1.6 million visitors annually and generates an estimated $670 million in regional economic impact each year, according to supporters of the bill. Nearly 4,500 jobs are tied to arena operations and tourism.
Under the legislation, no state bonds can be issued for the modernization project unless several conditions are met, including a binding 20-year lease commitment from the Trail Blazers, an approved project scope and budget, and financial commitments from the city of Portland and Multnomah County.
Officials said the project would be financed through a dedicated Oregon Arena Fund supported by revenues tied directly to venue activity, which backers say would avoid increasing taxes on Oregonians.
Still, opponents argued that even revenue-backed public financing carries risks if projected income falls short or costs rise. Some fiscal conservatives and taxpayer advocates have long opposed public subsidies for stadiums and arenas, contending that promised economic returns are often overstated.
Others said the state should be cautious about assuming financial responsibility for an aging arena while Portland and Oregon continue to grapple with pressing social needs.
Trail Blazers executive Dewayne Hankins said a renovated arena could position Portland to host marquee events such as NBA or WNBA All-Star weekends. Portland is also scheduled to host the NCAA Women’s Final Four in 2030.
Hankins said the Trail Blazers’ playoff games this weekend generated about $1.2 million in economic activity, citing estimates from ECONorthwest.
Senate President Rob Wagner, D-Lake Oswego, said the investment would help Oregon compete for events that fill hotels, support small businesses and bring national attention to the state.
“For more than 30 years, Oregon’s Arena has delivered for this state,” Wagner said. “Now, we have the chance to build on that legacy.”
The bill comes amid broader redevelopment plans in the Rose Quarter and Lower Albina neighborhood, including efforts by Albina Vision Trust to reconnect and reinvest in a historically displaced community.
Winta Yohannes, executive director of Albina Vision Trust, said the arena project should ultimately be judged by whether it benefits the surrounding neighborhood and helps create lasting prosperity for residents.
Portland Mayor Keith Wilson said a single sporting event at the arena can activate up to 7,000 hotel rooms and bring visitors into the area.
“A fully renovated facility means even more: more events, more nights, bigger shows, and more economic activity,” Wilson said.
While supporters called the bill a once-in-a-generation opportunity to strengthen Portland’s economy and keep major league sports anchored in Oregon, opponents said lawmakers must ensure taxpayers are protected and that public investments deliver benefits beyond the arena itself.
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