Interest Rate Jump Slowing Interest In Business Expansion

The increase in interest rates is beginning to impact businesses that were considering expansion.  Port of The Dalles Executive Director Andrea Klaas says the interest rate jump is making the cost of construction go up.  Klaas says for smaller businesses, a number of their projects are going on hold.  She adds while the Port doesn’t have a lot of developable land at this time, they are looking for grant funds to help with local projects.  Klaas noted smaller businesses tend to be more impacted by the increase in interest rates than larger companies with more resources available to them.

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