Economy

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

President Biden

Biden proposes a ban on ‘junk fees’ — from concert tickets to hotel rooms

"Folks are ... tired of being taken advantage of," President Biden said, announcing a federal push against added and surprise business fees.
a Hilcorp platform in Cook Inlet

Bill to provide free access to Cook Inlet seismic surveys moves forward

House Resources Committee chair Rep. Tom McKay, R-Anchorage, said he believes the proposal could spur more drilling.
Willow project

Willow oil project approval intensifies Alaska Natives’ rift

Some say that oil money can’t counter the damages caused by climate change, but others defend the project as economically vital.
a proposed LNG facility

Wall Street Journal: Limited interest in Alaska LNG from Asian buyers

The Journal reported that buyers in Japan and South Korea aren’t confident in the project, and don’t plan to make investments or sign contracts.
two orange crabs

Warming waters are driving Bering Sea crashes, but Alaska’s fishing industry is quiet on climate

Advocates say seafood businesses, trade groups and fishermen need to take more action to advocate for lower carbon emissions or risk continued catastrophic declines.

Alaska House postpones vote on oil tax bill – again

For the second time in two days, House lawmakers have postponed a final vote on Gov. Bill Walker's controversial oil tax bill, a cornerstone of the governor's efforts to close the state's $4 billion budget deficit. Download Audio
cruise ships on the water

Facing busier tourist seasons, Wrangell is buying high-end port-a-potties off eBay

Wrangell’s only downtown public restroom is a small brown building with just two toilets.

Lawmakers: TransCanada buyout likely, but is state ready?

Lawmakers say it’s all but inevitable they'll approve the governor’s request to buy out TransCanada and take a larger stake in the Alaska LNG project. But they are raising concerns about the state’s ability to take the company’s place. Download Audio
Ketchikan Three Bears

Doors open to Three Bears Alaska store in Saxman

It’s not everyday Ketchikan gets a new grocery store — especially not one that draws murmured comparisons to Costco. 

Naknek Electric, Deep in Debt, Outlines Geothermal Plan

The Naknek Electric Association has released a plan explaining where they’re going with their geothermal project. The member-owned electricity cooperative filed for bankruptcy last year after problems with the more than decade-old geothermal exploration.
Juneau cruise ships

Juneau expects to see more cruise passengers than ever this year

The city’s tourism manager says this year’s season is expected to see 30% more visitors than in 2019.
the Alaska State Capitol

From natural gas to psychedelic medicine, a look at some of the bills filed ahead of Alaska’s legislative session

Ahead of their return to the Capitol, lawmakers are using pre-session bill filings to lay out priorities for the months to come.
a woman in a home under construction points

Alaskans can skip the down payment in this housing program. Instead, they put in sweat equity.

Families commit to work 36 hours a week building a block of homes. Their labor covers the down payments, and they get access to low-interest and subsidized mortgages.
Rows of solar panels stretching off into the distance.

Chugach Electric offers its support for renewable energy benchmarks

A renewable portfolio standard would require Railbelt utilities to ramp up renewables. Chugach is the first Railbelt utility to publicly back it.
the Valdez Marine Terminal

New report details wide-ranging safety concerns at Valdez Marine Terminal

A sweeping 180-page report details a variety of safety concerns at the Valdez Marine Terminal, many of them reported by employees.
A house that's under construction.

Alaska House passes bill aimed at reducing down payment requirements for state-backed home mortgages

The Alaska Housing Finance Corporation said the change would allow it to reduce the required down payment from 5% to 3%.
a red king crab

As the once-lucrative Bering Sea crab harvest resumes, Alaska’s fishers face challenges

Reopened Bristol Bay red king crab harvests provide only a temporary reprieve from long-term environmental and economic difficulties.
a Juneau banking protest

Juneau residents join national demonstrations against banks that finance fossil fuels

What organizers called the “Great Alaska Credit Card Chainsaw Massacre” was among national protests for Tuesday's “Stop Dirty Banks Day of Action.”
boats in a harbor

Kodiak fishermen sit out opener as dispute over crab prices continues

Fishermen should have been setting their gear on Sunday morning for the opening of Kodiak’s biggest Tanner crab fishery since 1986. But the boat harbor was almost full – dozens of vessels were stacked high with empty crab pots. At the coffee shop downtown right near the docks, fishermen lined up for free coffee instead.  
a woman

Bristol Bay braces for EPA’s final decision on the proposed Pebble mine

If the EPA finalizes a ban on mining activities at the site of the proposed Pebble Mine at the end of the month, it would effectively kill the mine.