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National housing affordability bill passes, Seattle’s Starbucks promised $250m in salaries to Tennessee, US and Iran trade attacks (again) in the war (not war) in Straight of Hormuz, Jefferson County receives $28m in transportation funding, Oregon Health Authority awards $175m in grants to rural health providers.

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PNW Market Look

As of market close 7.10.26

Headline Roundup

Estate of Paul G. Allen Reaches Agreement to Sell Seattle Seahawks (SH)
Oregon awards the largest round of federal rural healthcare grants (COD)
US Federal Reserve taps Xbox CEO Asha Sharma, who just laid off 3,200 employees, to lead task force on jobs (PCG)
Jefferson County lands $28 million to fix miles of road, repair 5 bridges (COD)
Tennessee expects major payoff from Starbucks’ Nashville office (ST)
Economy, fruit prices and pest outbreak devastate Northwest pear industry (OPB)
UW completes $64M upgrade project at Montlake medical campus, mulls more (DJC)
Oregon business closures outnumber openings — and the gap is growing (ORL)
Boeing starts building 737 MAX planes in Everett on new North Line (ST)
Elected officials hail Great Falls economic progress in two events (DM)
Radar maker Echodyne opens $40 million plant in Woodinville (PBJ)
Seattle-area VC deals slow amid top-heavy market (PBJ)
Payment processor Stripe expands lease at Seattle's Madison Centre (PBJ)
Micron Is In Its Most Profitable Era Ever — And the Numbers Keep Getting Bigger (WS)
Intel EMIB-T Breaks Past Existing AI & HPC Scaling Limits, Enabling Ultra-Large Die Complexes With Over 10x Reticle Dies & 12 Gb/s+ HBM4e DRAM (WCCF)

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Community Highlight

DEQ Makes Long-Awaited Announcement on Controversial Climate Program (OJP)

“Last month, Gov. Tina Kotek’s Prosperity Council recommended scrapping the state’s controversial Climate Protection Program—commonly called the CPP— a recommendation the governor provisionally endorsed.

But the Oregon Department of Environmental Quality is nonetheless moving full speed ahead with the implementation of the program.

Under the CPP, which previous Gov. Kate Brown enacted via executive order in 2020, Oregon must reduce emissions by 90% from 2017–19 levels by 2050. Consumers of liquid fuels, propane and natural gas must steadily reduce their emissions every year. If they fail to meet annual targets, they can offset their excess emissions by purchasing Community Climate Investment credits. Each credit offsets a ton of carbon emissions.

At a meeting of the Environmental Quality Commission in Astoria, DEQ director Leah Feldon announced that CALSTART, based in Pasadena, Calif., will serve as the Community Climate Investment entity for the program.

Oregon’s three natural gas suppliers, led by NW Natural, industrial customer groups, and some labor unions are currently suing DEQ in the Oregon Court of Appeals over the Climate Protection Program.

Last month, the Prosperity Council recommended that the state boost Oregon’s economy by scrapping the Climate Protection Program and replacing it with an emission reductions approach similar to those in neighboring states.”

Rip’s Spotlight

Largest housing affordability bill in decades becomes law without Trump's signature (NPR)

“Democrats in Congress hailed it as the biggest housing bill in decades. Republicans called it a win for families across the country. White House press secretary Karoline Leavitt described it on X as "one of the most significant pieces of housing legislation in American history." And in June, both houses of Congress passed it with broad bipartisan support.

The law says corporate landlords that own at least 350 houses won't be able to buy more. The goal is to make the housing market more competitive for individual buyers, who are often outbid by investors who can make all-cash offers.

Other provisions are meant to boost homebuilding, such as by allowing developers to skip an environmental review if a house is going up between two buildings that were already reviewed.

Another provision creates a grant program communities can use to develop "pattern books," a collection of preapproved housing designs that would need fewer approvals before construction.”