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See All PostsMike on America with Mike Hegedus

You Can Go Home Again (Just Bring Money)

Published: Friday, 28 Sep 2007 | 9:36 AM ET
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By: Mike Hegedus
CNBC Special Features Reporter

ASTORIA, Ore. -
Astoria, Oregon
"There was no boom, it was just bust," so says Steve Forrester, the publisher of the Daily Astorian, as the two us stand outside his office on a chilly gray day. "Sustainable is well, a phony word. You have to work hard every day to make a living."

Forrester and I are talking about a place each of us has seen move from salmon jerky to gourmet cuisine. The place is Astoria. Get out your maps. It's way up there at the top of Oregon, on the coast, just one bridge ride away across the Columbia River from Washington State. For years Astoria was a city in decline, the local economy in the dumps. And that turned Astoria into one.

But guess what? Astoria is now 'hot'.

It's always been a fishing and lumber town and to some degree it still is. It's the fourth busiest fishing port on the West Coast. A new 11 million dollar fish processing plant just recently opened. If you stroll the waterfront in the evening you're likely to run into a scene you don't often see, the off loading of sardines by the ton. Sardines are back and there's money to be made.

But I can remember when the only thing to eat in town was salmon jerky, the only tourists on the street were Russian sailors and the only place to stay was the Red Lion. The old Red Lion. Not anymore. Small cruise ships dock here three days a week on their way up the Columbia, we had Dover Sole Almandine last night, and the rooms at the Cannery Pier Hotel are wonderful. It's been labeled as one of the best waterfront hotels anywhere.

In fact 'the' topic of conversation in Astoria these days is about too much development! What happened? People like Robert Jacobs happened. He's the Portland based architect who built the Cannery Pier Hotel. He's from Astoria, graduated from Astoria High in 1957. And he decided that when it came time to invest his money he wanted to do it here, at home. He's just one of four or five Astorians that have decided to come home and invest their money in the future of this town.

The Liberty Theater has been revived and with it the downtown area of Commercial Street. In total a tourism industry has developed and now accounts for nearly 400 million in annual revenue for Clatsop County.

There are now 5 or 6 condominium development plans in review. It has been named as one of, if not 'the', best places to retire in America. Astoria. You can still buy salmon jerky here by the way.

MOA likes it so much, I just may take the next week off and explore around here. See you along the road.

Questions?  Comments?  mikeonamerica@nbcuni.com

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