Alaska’s major oil and gas players (and some newcomers) are investing their faith and money in the Alaska Arctic with new and ongoing projects.
By most accounts Alaska’s economy is finally set to emerge from several years of recession. The state’s residents can expect more employment opportunities with about 1,400 new jobs coming online in industries that have been stripping costs and reducing headcounts over the past four years.
Cautious optimism surrounds forecasts for Alaska’s economy in 2019 as many predict the state’s recession will finally bottom out—making Alaska one of the last energy-dependent states to begin recovery since oil prices tumbled about three years ago.
On April 19 the Anchorage Economic Development Corporation (AEDC) released the “2017 Anchorage, Alaska Cost of Living Index,” sharing Anchorage-centric data from the nationwide Cost of Living Index (COLi), which gathers information from 269 areas.
“To date, only minimal drafts, and in most cases just outlines, of these plans have been provided, and/or the development of the plans have been deferred to a later date,” FERC said, referring to its past requests of AGDC for proposed mitigation plans for wildlife avoidance, marine mammal monitoring, vegetation and soils restoration, groundwater monitoring, and invasive plants.
The State of Alaska Division of Economic Development, in partnership with the University of Alaska Center for Economic Development, released the first in a series of reports examining several emerging economic sectors in Alaska.
As we do each year, Alaska Business asked industry leaders and public officials to provide us with insight into what they expect to see for the state’s economy in the coming year.
Happy New Year! We asked leaders across Alaska for their comments on the economic outlook for 2017, and the common theme is an optimistic outlook as long as there is proper legislative action taken and diversification of the economy.