While nothing can be certain, projections are that by the second half of the year most of the city’s major industries will see some growth.
Economists were cautiously optimistic in their predictions for what 2020 would hold for the state’s economy. What none of them saw coming—what nobody saw coming—was the COVID-19 pandemic and the crippling economic damage it would cause.
Local manufacturing businesses and jobs have experienced a resurgence in recent years that needs to continue for our state’s livelihood and connection to the global economy.
Whether the mines produce zinc, lead, coal, gravel, silver, or gold, the direct and indirect financial impacts on the surrounding area are significant, according to a McDowell Group report commissioned by the Alaska Mining Association.
Governor Mike Dunleavy announced the creation of the Alaska Economic Stabilization Team, a group of leaders who will work with the Dunleavy administration on a plan to protect the state’s economy from the impact of COVID-19 in Alaska.
Most experts indicate that the Last Frontier has turned the corner and in 2020 will claw its way out of the recession that started several years ago. However, the recovery is not expected to be uniform, as Anchorage remains in recession and many of the impacts of the state’s budget cuts have yet to play out.
Newly released data for the first half of 2019 show total wages up $355 million from the first half of 2018, with increases in all of Alaska’s major industries and sectors. The 4.0 percent wage growth exceeded inflation, which was 2.6 percent over the period.
The Matanuska-Susitna Borough and the Alaska Industrial Development and Export Authority have signed a Memorandum of Understanding that provides a partnership framework for a phased feasibility analysis of the West Susitna Access.
In a new paper, Mouhcine Guettabi summarizes the research on what is known of the PFD’s effect on employment, consumption, income inequality, health, and crime.
A new National Park Service report shows that 2,920,250 visitors to national parks in Alaska spent $1.36 billion in the state in 2018, resulting in 17,760 jobs and a cumulative economic benefit of more than $1.98 billion.