Economy

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

a man in a suit

The Federal Reserve starts cutting interest rates in a big moment for the economy

The Federal Reserve moved aggressively Wednesday to start cutting interest rates as easing inflation fears gives way to concern about the job market.

In sign of North Slope evolution, privately owned Texas company targets Chevron’s Alaska assets

A little known Texas company is buying a share of a key North Slope pipeline and asked to buy all of Chevron’s oil interests in the region — reviving questions about the Alaska oil industry’s capacity to decommission aging infrastructure and pay damages in the event of a spill.
a man in a suit against the wall

The Federal Reserve is on the verge of cutting interest rates. Here’s what to know.

The Fed is expected to start cutting interest rates on Wednesday — marking a milestone in the central bank's long-running battle against inflation.
tents

Inside Graphite One: A look at Alaska’s largest graphite deposit

During a tour of the project's camp near Nome, officials discussed their plans to extract a key element in making electric vehicles.
tourists

Sitka tourism documentary ‘Cruise Boom’ to debut on PBS

A documentary examining the impact of cruise tourism's explosive growth in Sitka will debut this weekend on national television.
an empty Ravn alaska counter

Ravn pulled out of the Aleutians in August. Here’s how residents are coping.

Regional airline Ravn Alaska announced recently it was stopping service to the Aleutian Islands. That means there are limited options for travel in the region.
a grocery store

Inflation falls to its lowest level in more than 3 years. Here’s what that means.

Consumer prices in August were up 2.5% from a year ago — the smallest annual increase since February 2021.
a ship

Repair ship working to mend cable break that took Sitka offline

It could be close to a week until repairs to the fiber optic cable, between Sitka and Angoon, are finished.
a gravel beach by a lake among mountains

An Anchorage engineer thinks there’s a way to satisfy all parties competing for water in Eklutna Lake

The pitch comes as the governor weighs how to balance demands for hydroelectric power, drinking water and restoration of fish habitat.
George Rauscher

Alaska Gov. Dunleavy vetoes work quota rules for Amazon-like warehouses

House Bill 88 would have kept companies from instituting work quotas that discourage employees from using the bathroom.
stacks of shipping containers. A few read "Matson."

The unseen factor driving Alaska’s migration losses

It's not about the leavers. New arrivals are staying away in droves, driving Alaska to an unprecedented 12th year of net negative migration.
a boot

An Alaska company is launching an updated Bunny Boot

The Alaska Gear Company's new boots, based on the original U.S. military design, are now available for preorder.

Dunleavy vetoes tax breaks for Turo operators, leaving owners to collect rental car taxes themselves

Senate Bill 127 would have lowered taxes on app-based rentals and made it harder for Turo owners to skip out on their tax bills.
a ship

Ship en route to repair Sitka’s damaged fiber optic cable

The cable repair ship bound for Southeast waters is currently in Canada, and should arrive by the end of the week.
a building

The future of the Permanent Fund | Talk of Alaska

Amid concerns over its long-term stability, Permanent Fund managers are proposing changes to the fund’s structure they say will protect it for the future.
a harbor

It could take nearly 2 weeks to repair a broken fiber optic cable that has caused widespread outages in Sitka

Sitka has been without internet access since an undersea fiber optic cable broke Thursday, cutting off most residents from the online world.

In Valdez, the city hopes it’s found a solution to the affordable housing crisis

City officials in Valdez are pursuing an all-of-the-above solution — and they’re hoping to serve as a model for other communities.
a panel

Juneau businesses argue against ‘Ship-Free Saturday’ ballot proposition

Members of the group Protect Juneau’s Future say they believe the proposition is bad for the capital's economy.
a conference

North Slope oil project is on track, Santos head tells industry gathering

Kevin Gallagher, CEO of Santos, told the Alaska Oil and Gas Association conference that the Pikka project is nearly 60% complete.
Sitka cruise ship passengers

Internet and cell services down for most of Sitka

Sitka had 4,000 cruise passengers on Thursday. Many businesses reported having to resort to cash-only transactions to make sales.