Outdoor apparel company Columbia Sportswear has opted to expand its existing HQ rather than moving to the city of Portland.

The decision means the firm's corporate headquarters, which moved out of the city in 2001, will stay a few miles west of downtown in Beaverton.

Columbia Sportswear released a letter saying it was grateful for proposals made by city officials, reported the Oregonian, but has decided to stay put for financial reasons alone.

The company was not immediately available to comment.