Economy

All Alaska economy and business news, including the Alaska Economic Report.

Petersburg

Petersburg needs 300 houses in the next decade, survey shows

About 10 percent of Petersburg residents responded to a 39-question survey, many expressing unhappiness with local housing availability.

Al Jazeera documentary highlights erosion in Kivalina, Newtok

On Sunday evening, the issue of Alaska coastal erosion will be featured on the Al Jazeera America program "Fault Lines." The correspondent for the story is former APRN reporter Libby Casey. She says they highlighted Newtok and Kivilina on the northwest Arctic coast. Download Audio
a large gray warehouse

Amazon’s first Alaska sorting facility to open by 2024

An Amazon spokeswoman described the Anchorage facility as a “last stop before packages arrive at customers' doorsteps.”
the Willow project

U.N. rapporteurs and Patagonia take Willow opposition to new level

U.N. Human Rights Commission appointees want to file a brief in lawsuit over Arctic drilling project.
a dock

Trident Seafoods drops salmon prices due to flooding global markets

Trident Seafoods dropped the price for Alaska chum salmon this weekend, from 60 cents to 20 cents per pound for all fisheries.

Alaska schools have long struggled to hire and keep teachers. The pandemic is making it worse.

The pandemic is making it even more difficult to hire and retain educators in Alaska. Strains from burnout and absenteeism are piling on the stress for a system that’s already buckling under the pressure.
a woman and her children

Credit Card Nation: How we went from record savings to record debt in just two years

Millennials have seen their debt rise by nearly 30% since before the pandemic, to about $3.8 trillion, despite falling to near-record lows in 2021.

Alaska utility regulators ask Hilcorp, BP for more details on $5.6B deal

The Regulatory Commission of Alaska is asking the companies for five new sets of documents. They include the purchase and sale agreement, charts detailing the companies' corporate ownership and operating structure, and additional financial statements.
an ambulance crew

Tourism, aging create ‘a lot of challenges’ for Ketchikan’s first responders

Ketchikan's fire chief, Rick Hines, says off-duty crew members are being paged to answer calls, with up to seven happening simultaneously last year.

Governor’s budget proposes major changes to oil tax credits

The governor's budget gets about half a billion dollars from the oil and gas industry, proposing deep cuts to the state's system of oil and gas tax credits.

Climate change, not Arctic drilling, drives Obama trip to Alaska

President Barack Obama is coming to Alaska later this month. The White House released a video Thursday morning to explain why he will be the first sitting president to visit Alaska’s Arctic. Download Audio
kelp

Federally funded project will search for rare earth elements in Southeast Alaska seaweed

The University of Alaska Fairbanks-led project is funded by the U.S. Department of Energy as part of a push for domestic rare earth elements.

Hilcorp revived this declining North Slope oil field. Can it do the same for Prudhoe Bay?

While many North Slope fields are only the decline, production at Hilcorp's Milne Point has actually increased by huge amounts. Now, the company is acquiring the massive Prudhoe Bay field, raising hopes of a similar revival there.

Research shows studded tires cost the state millions of dollars in road maintenance every year

A new report finds that over the next 20 years, the road maintenance related to studded tire use will cost the state way more than what it takes in from fees drivers pay to use them.
an oil drilling site

As Conoco’s Willow project advances, 2 local governments have withdrawn their criticism

Nuiqsut's tribal and city councils last year blasted the “endless expansion of oil development and the complete encirclement of our village."
Crowds of people walk past food trucks and vendors along a city street on a summer afternoon.

Alaska tourism industry expecting another strong year, led by cruise passengers

An Alaska tourism industry advocate expects last year’s record-breaking cruise passenger numbers to repeat in 2024.
a square building with a large black chimney with a sign that reads "Trident Seafoods"

Fishermen and community leaders react to Trident announcement to sell a third of its Alaska plants

Trident Seafoods shocked fleets when it announced last week it would sell plants in Kodiak, Petersburg, Ketchikan, and False Pass.
A line coming up to a boat attached to some buoys with kelp hanging down

Two Native-led green banks are starting up in Alaska

The Valdez Native Tribe and Spruce Root are both establishing lending institutions to fund renewable energy and environmental infrastructure.
Lina Khan

U.S. bans noncompete agreements for nearly all jobs

The FTC has voted to ban agreements that typically prevent workers from leaving their companies to join or start competing businesses.
a proposed bridge

Alaska transportation leaders weigh Knik Arm tunnel

State officials say “significant increases in tunneling technology” have prompted a new look at a Knik Arm crossing first proposed as a bridge.