Economy

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

an oil and gas platform in the water

This oil platform stopped pumping 30 years ago. Alaska still won’t make the owner tear it down.

Owners can put off the costly process of tearing down the platforms using a strategy one critic calls “delay, deny and diddle around.” And in Alaska, the state has let them do it — for decades.
a wireless tower

GCI mobile customers in Bethel demand answers after weeks of call issues

The telecom firm says the problem is now fixed. But business owners say they've been hurt by spotty service for incoming calls in April.
an airplane

Southeast Alaska air carrier adopts new tech to make travel safer, more reliable

More precise GPS technology and FAA approval for Alaska Seaplanes to fly new routes is expected to lead to fewer cancellations and increased safety.
a forum

State economist says Kenai Peninsula job market recovering faster than Alaska

Economist Sam Tappen said the Kenai Peninsula has fared better than the rest of the state in rebounding from the post-pandemic recession.
Two cars side by side getting a touchless car wash.

Car wash companies expand in Anchorage amid national boom  

According to Bloomberg, there are about 60,000 car washes in the country, and some forecasts show that number could double by 2030.
Anchorage

Alaska lawmakers juggle late-session bills addressing Southcentral natural gas crunch

Bills to make storing gas easier, reduce royalties and spur new gas production, as well as energy transmission and renewable energy, are moving forward.
Seward Harbor

Cruise company backs Alaska Railroad’s plan to replace Seward dock

Royal Caribbean International has signed a 30-year agreement to use the proposed passenger dock, as bonds are being secured for the project.
(Sabine Poux/KDLL)

NOAA issues final ruling on Cook Inlet federal fishing waters

The federal decision comes after the North Pacific Fisheries Management Council was tasked with choosing a new management plan, but took no action.
A giant snowy mountain

Preparations underway for 2024 climbing season on Denali

More than 900 climbers have registered to attempt a summit of Denali this season, with 300 more registered for backcountry climbs.
Juneau

Ambitious 20-year plan for downtown Juneau heads to Assembly

Blueprint Downtown is an effort to lay the foundation for downtown Juneau’s future.
a ferry in the dark

State ferry Tustumena repairs delay Kodiak Island service

Ferry system director Craig Tornga says crews found extensive "wasted steel" suffering from rust aboard the 60-year-old ferry during a recent overhaul.
King Cove

King Cove braces for salmon season with no seafood processor amid historic price slump

Less than 2 months before salmon season, King Cove's seafood processor announced it will cease operations.
data servers

Net neutrality is back: U.S. promises fast, safe and reliable internet for all

The U.S. will reinstate Obama-era regulations for internet service providers that promise fast, reliable and fair internet speeds for all consumers.
a drift net

Feds approve disaster declaration for 2022 Kuskokwim salmon fisheries

Commerce Secretary Gina Raimondo's disaster declaration covers the Kuskokwim River failure of chinook, chum and coho fisheries in 2022.
a dock

Haines residents could weigh in on divisive dock project

Mayor Tom Morphet said he wants an advisory vote to make sure “50 percent plus one of the community” is on board with how to rebuild the Lutak Dock.
Kodiak

Report portrays mixed picture of Alaska’s huge seafood industry

The report says the industry's economic value rose in 2021 and 2022, but employment is declining and recent price collapses are worrisome.
travelers

Airlines are ordered to give full refunds instead of vouchers and to stop hiding fees

The new Biden administration rules are meant to crack down on airlines that charge passengers steep fees to check bags and change flights.
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.
President Biden

President Biden signs law to ban TikTok nationwide unless it is sold

The measure was included in a foreign aid package providing support to Ukraine and Israel. TikTok has vowed to challenge the law in federal court.
Amazon van driving

Amazon says its Anchorage sorting facility has cut delivery times in half

“That's going to continue to speed up and improve as we move towards that 100% operational state,” said a company spokeswoman.