Economy

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

the Alaska Permanent Fund Corp. offices

New estimate shows Alaska’s Permanent Fund could be out of spendable money in 3-4 years

An annual transfer from the fund pays for more than half of Alaska’s general-purpose government spending.

TOTE Maritime Alaska is now powering its ships with natural gas, cutting carbon and other pollutants

The company says it's the first in the world to convert a full fleet to run on the most environmentally friendly fuel available.

A year after a dam was removed, this river near Anchorage is still waiting for water

The effort to remove the dam on the lower Eklutna River couldn’t succeed on its own because upstream, utilities divert the river into a hydroelectric power plant. Officials say it will take years before they decide whether to add more water that could help restore salmon.

On warming North Slope, one flood response last year cost pipeline operator $10 million

As Alaska's North Slope gets wetter and warmer, its rivers have been running at record high levels -- prompting questions about whether similar events will become more frequent as Alaska's climate warms.
A man in a suit speaks at a podium.

Anchorage Economic Development Corp. backs sales tax for property tax relief, community investment

The head of the nonprofit says business leaders are interested in a 3% sales tax with two-thirds for property tax relief.
A big boxy building with a smokestack next to it sending up steam

Feds award $9M to research carbon capture for proposed Southcentral Alaska coal power plant

Carbon capture storage is drawing attention at the state level, though critics say it’s expensive and may not have a large impact on emissions.

Mount Spurr Could be Huge Geothermal Energy Source

Over the past few years, people who live along Alaska’s Railbelt have begun to worry about the lifespan of the system that delivers energy...
a meeting

Alaska Permanent Fund board unlikely to pursue faster, riskier path to $100B

The Alaska Permanent Fund appears headed toward maintaining its current steady growth over the next few years.
two people on a boat, with a fishing net

Tesla needs graphite. Alaska has plenty. But mining it raises fears in nearby villages.

Graphite is a critical ingredient in the batteries needed to power America’s electric vehicle revolution. But every ounce of it is imported. A proposed mine in a remote part of Alaska would change that. But some of the people who live nearby fear it will endanger their way of life.
a gas station

Three Bears Alaska begins work on Delta Junction gas station, grocery store

The Delta Junction project is the Wasilla-based company’s 22nd location, all but one of them in Alaska.

Walker proposes Permanent Fund overhaul to cover deficit

Gov. Walker wants to overhaul the way Alaska uses the Permanent Fund. His plan would turn the state’s various savings accounts into a kind of endowment, using their earnings to fund state operations. Download Audio

hikers

Alaska Long Trail advocates seek funding for improvements at popular recreation spots

Advocates of the 500-mile trail network say there has been enough progress to draw long-distance hikers this summer, as they seek state support for more.

As Anchorage warms, wintertime is defined by ice as much as snow

For many in Anchorage, winter and its accompanying outdoor opportunities are something to relish rather than escape. But residents of the state’s largest city are being forced to renegotiate their relationship with winters.
Lisa Murkowski giving a remote address

Murkowski, Peltola tell ComFish more needs to be done about ‘crisis’ levels of species decline

The lawmakers discussed the challenges faced by Alaska’s fishermen in a remote address to Kodiak’s annual commercial fishing trade show.

Company eyeing new Cook Inlet oil defends tax credit program

A small company working to develop Cook Inlet's first new oil pool in years is urging policymakers to use restraint when considering changes to the state's controversial oil-tax credit program.
a harbor full of docked boats on a cloudy day

Alaska’s harbors grapple with rusty pilings and rising costs

The climbing price of docking a boat in harbors across the state has Alaskans questioning their future on the water.

Conflict over tapping geothermal power at Makushin volcano

The City of Unalaska and the owners of the geothermal fluid near Makushin volcano have different ideas on the best way to push the...

Anxiety creeps into oil-dependent Alaska as banks step back from Arctic investment

An aggressive advocacy campaign against banks' involvement in Arctic oil means that Alaska companies are facing more obstacles to raise the cash they need. They've responded by tailoring their pitches to financial institutions, as Alaska lawmakers fight back.

Shell to abandon Arctic offshore drilling ‘for the foreseeable future’

Shell Oil announced late Sunday night that it is abandoning offshore drilling in Alaska “for the foreseeable future.”