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Economy

  • Forecasting Alaska

News

FILE - This Sunday, April 10, 2011 picture shows a rig and supply vessel in the Gulf of Mexico,...

Biden backs new offshore drilling in the Gulf of Mexico. Scaled-back plan disappoints all sides.

Updated: Sep. 29, 2023 at 2:30 PM AKDT
|
By The Associated Press, Matthew Daly and Matthew Brown
President Joe Biden’s administration on Friday proposed up to three oil and gas lease sales in the Gulf of Mexico, but none in Alaska, as it tries to navigate between energy companies seeking greater oil and gas production and environmental activists who want Biden to shut down new offshore drilling in the fight against climate change.

News

A former Sears warehouse in Anchorage will become Amazon's first sorting facility in the state

Former Sears warehouse will become Amazon’s first sorting facility in Alaska

Updated: Sep. 26, 2023 at 2:12 PM AKDT
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By Lauren Maxwell
An old Sears warehouse in Anchorage will become Amazon's first sorting facility in the state.

News

$1,312 Permanent Fund dividend payments coming in early October

Updated: Sep. 21, 2023 at 5:50 PM AKDT
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By Shannon Cole
The annual boost to Alaskan bank accounts is just around the corner — the first payments of the 2023 Permanent Fund dividend will be deposited on Oct. 5.

Economy

How to choose between a 401(k) and a Roth 401(k) for your retirement plan

How to choose between a traditional 401(k) and a Roth 401(k) for retirement

Updated: Sep. 11, 2023 at 7:24 AM AKDT
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By Arielle Ingram-David
Many dream of retirement, but saving for it can be complicated. One of the critical choices is between a traditional 401(k) and a Roth 401(k) plan.

News

Anchorage housing market trends

National fair rent update to help affordable housing market

Updated: Aug. 31, 2023 at 7:02 AM AKDT
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By Shannon Cole
The U.S. Department of Housing and Urban Development announced an additional $113 million in Housing Choice Vouchers to assist families in meeting rising rent costs.

Economy

Houston, Texas, has a population several times larger than Anchorage - yet the Anchorage...

New employment stats show Alaska trending above average nationwide

Updated: Aug. 24, 2023 at 10:23 AM AKDT
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By Joey Klecka
New data from the U.S. Department of Labor shows Alaska’s job numbers are generally trending higher than the national average in many categories.

News

ANWR

Federal judge rules against state agency to maintain oil and gas lease halt

Updated: Aug. 8, 2023 at 11:17 AM AKDT
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By Joey Klecka and Georgina Fernandez
A state agency that appealed a temporary moratorium on oil and gas leases on Alaska’s North Slope was denied by a federal judge Monday, preventing any development from starting in the immediate future.

Economy

Anchorage skyline

Economic report forecasts Anchorage population will end downward trend while warning about workforce retirements

Updated: Aug. 3, 2023 at 5:22 PM AKDT
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By Joey Klecka
After years of declining population numbers, economic experts say Anchorage's population could begin increasing again.

News

Alaska senator urges state to investigate possible Hilcorp violations around Cook Inlet leases

Alaska senator urges state to investigate possible Hilcorp violations around Cook Inlet leases

Updated: Jun. 27, 2023 at 7:38 AM AKDT
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By Lex Yelverton
An Alaska lawmaker from Anchorage is asking for an investigation of one of the state’s largest energy companies.

News

Norwegian Cruise Line, a major tourism provider for Alaska, has canceled all ports of call in...

Norwegian Cruise Line cancels all port calls to Valdez for 2023, 2024 season

Updated: Jun. 16, 2023 at 3:39 PM AKDT
|
By Joey Klecka
Norwegian Cruise Line, a major tourism provider within the state of Alaska, has canceled all calls to the Port of Valdez, according to city officials.
7 Day Forecast
7 Day Forecast

News

Ambler Road project report delayed months

Updated: Jun. 16, 2023 at 7:53 AM AKDT
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By Alaska's News Source Staff Report
A report on the Ambler Road Project is being delayed by about six months. The official record of decision that is being put off follows the Department of the Interior, the Bureau of Land Management, and the White House previously indicating a record of decision release in late 2023.

News

2 Anchorage economic leaders announce departures

Updated: Jun. 15, 2023 at 6:46 PM AKDT
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By Joey Klecka and Georgina Fernandez
Two heads of Anchorage’s biggest economic drivers are exiting their positions this year, leaving vacancies that will be tough to fill.

Economy

A changing economy means Alaska’s jobs will change

Updated: May. 22, 2023 at 6:33 PM AKDT
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By David Bernknopf
What jobs will Alaskans hold in decades to come and what will draw new workers to the state?

News

Senate majority says PFD, carbon, lawmaker salary legislation are still a work in progress

Updated: Mar. 22, 2023 at 10:45 AM AKDT
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By Elena Symmes
The Senate majority addressed the state of legislation that will impact the budgeting process.

News

Alaska’s pricey housing market still limiting options for home buyers

Updated: Mar. 20, 2023 at 7:29 AM AKDT
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By Joe Kinneen
Property values have risen 25% since 2013, which has been attributed to the rise in the cost of building materials, as well as the limited space for expansion.

News

Alaska’s working-age population has seen historic drops

Updated: Mar. 3, 2023 at 6:41 PM AKST
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By Georgina Fernandez
Alaska is seeing for the 9th consecutive year a decreasing working age population.

News

House minority unhappy with lack of progress on education, workforce issues

Updated: Feb. 28, 2023 at 6:22 PM AKST
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By Elena Symmes
Members of the House minority coalition call for deeper investment and legislator engagement on two key issues dominating the session

News

Gov. Dunleavy announces proposed amendments to state budget

Updated: Feb. 15, 2023 at 4:07 PM AKST
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By Tim Rockey
Gov. Mike Dunleavy announced $117 million in undesignated general fund budget amendments to his proposed budget.

News

‘The market has been very hot’: Mat-Su homeowners see significant increase in assessed property value

Updated: Feb. 14, 2023 at 7:59 PM AKST
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By Carly Schreck
With this year’s 2023 property assessments, the borough estimates to make more than $12.3B in taxable values, after property and mandatory exemptions are subtracted.

News

Tourism boom projected in Anchorage

Updated: Feb. 2, 2023 at 7:35 PM AKST
|
By Elena Symmes
"We're looking at another great year in 2023. The phone has been ringing, the bookings are coming in, we just see a really positive future for tourism in Alaska," says the Director of Sales and Marketing for an Anchorage-based cruiseline.

News

Strike ends for Kodiak crab fishermen

Updated: Jan. 31, 2023 at 4:47 PM AKST
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By Tim Rockey
Tanner crab fishermen in Kodiak have left the docks and gone fishing after receiving a modest increase in the price per pound of crab from the four cannery plants on Kodiak Island.

News

Economic outlook ‘modestly optimistic’ for Anchorage in 2023

Updated: Jan. 25, 2023 at 7:07 PM AKST
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By Carly Schreck
The report comes after 240 local businesses and organizations were surveyed over past performance, expected performance, and identifying issues within the city in order of importance.

Economy

Most home values increase across Anchorage municipality, according to latest report

Updated: Jan. 12, 2023 at 8:17 PM AKST
|
By Lex Yelverton
Home values in Anchorage increased in 2022, but many buyers face reduced inventory and lower purchasing power.

Economy

Anchorage home buyers face slim pickings

Updated: Jan. 4, 2023 at 6:18 PM AKST
|
By Georgina Fernandez
When it comes to buying a home in Alaska, the odds are good but the goods are odd. In 2022, Anchorage saw some of the lowest inventory rates, the city has seen in modern-day history.

News

Acting commissioner named for Department of Revenue

Updated: Nov. 7, 2022 at 12:21 PM AKST
|
By Tim Rockey
Gov. Mike Dunleavy has named a new acting commissioner for the Department of Revenue.

News

Tribal leaders request permit to be withdrawn for Donlin Gold Mine project

Updated: Oct. 20, 2022 at 10:47 AM AKDT
|
By Lex Yelverton
In a letter to the corps, the tribal coalition requested that the Clean Water Act 404 permits for the proposed gold mine — which mine advocates say would be located next to Crooked Creek, a tributary to the Kuskokwim River — be withdrawn.

News

Rising interest rates leave home owners struggling to sell

Updated: Oct. 4, 2022 at 6:18 PM AKDT
|
By Georgina Fernandez
Seeing for sale signs staying up longer has been a recent trend seen. According to the Department of Labor and Workforce Development, interests have gone up since 2021. Last year, Anchorage saw a tight housing market. There were not many houses on the market, but there were a seas of home buyers looking to find their perfect home.

News

Mitchell named as executive director of Permanent Fund Corp.

Updated: Oct. 3, 2022 at 6:37 PM AKDT
|
By Tim Rockey
At a special meeting of the Alaska Permanent Fund Corp. Board of Trustees, Acting Revenue Commissioner Deven Mitchell was approved by a unanimous vote to become the next Executive Director of the corporation.

News

New report: Oil spills from offshore transportation way down

Updated: Sep. 28, 2022 at 11:06 AM AKDT
|
By The Associated Press
The report says the amount spilled and dumped in wastewater from drilling rigs and production platforms has increased because there’s more work offshore.

Economy

Economic report slams AIDEA’s investment decisions

Updated: Sep. 27, 2022 at 7:31 PM AKDT
|
By Carly Schreck
The overall tone of the report suggests that state funds appropriated by the legislature for AIDEA would have been better served in the state’s permanent fund.

News

Alaskans concerned about PFD deposit delays

Updated: Sep. 22, 2022 at 4:25 PM AKDT
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By Kristen Durand and Shannon Cole
The delay in payment is tied to how each resident submitted their completed PFD application.

News

Yukon River coho, chum salmon runs among lowest on record

Updated: Sep. 16, 2022 at 7:30 AM AKDT
|
By Lex Yelverton
A recent study shows the fall coho and chum salmon runs in the Yukon River are among the lowest on record, casting doubt on the future of subsistence fishing in the state.

News

New acting commissioner named for Department of Revenue

Updated: Sep. 9, 2022 at 3:31 PM AKDT
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By Tim Rockey
The Department of Revenue will be led by Acting Commissioner Deven Mitchell starting on Sept. 12 after previous commissioner Lucinda Mahoney resigned on Sept. 2.

News

Governor announces 2022 PFD amount

Updated: Sep. 8, 2022 at 1:13 PM AKDT
|
By Tim Rockey
Gov. Mike Dunleavy announced the dollar figure for the 2022 Permanent Fund Dividend from Three Bears in Palmer.

News

Public comment period passes for EPA determination for Pebble Mine project

Updated: Sep. 7, 2022 at 1:44 PM AKDT
|
By Joey Klecka
The EPA concluded prior to the public comment period opening that development of such a mine would have adverse effects on the environment and salmon watershed.

Economy

City of Palmer sees sales tax benefit from Alaska State Fair

Updated: Sep. 2, 2022 at 7:37 PM AKDT
|
By Carly Schreck
Local economic impacts on the businesses of Palmer ebbs and flows, depending on which days the fair is running.

News

Laid-off paint store employees find new opportunity

Updated: Aug. 22, 2022 at 10:49 AM AKDT
|
By Taylor Burke
After over 50 years of serving the public, a staple paint store in the community closed, leaving their employees uncertain of their future until one Anchorage business owner stepped in.

News

Employment in Alaska is up 3 percent this July compared to July 2021

Updated: Aug. 20, 2022 at 2:10 PM AKDT
|
By Jeremy Rolston
Alaska jobs are up from July last year but are still lagging.

Community

Petersburg’s Cannery Park gives glimpse into history of town, early canneries

Updated: Aug. 15, 2022 at 2:57 PM AKDT
|
By Beth Verge
Along Petersburg's main street sits a small park that's dedicated to the workers who help make cannery work possible.

News

Anchorage Economic Development Corporation releases outlook for Anchorage

Updated: Aug. 3, 2022 at 6:35 PM AKDT
|
By Lauren Maxwell
The Anchorage Economic Development Corporation releases their 3 year economic outlook for Anchorage.

News

Alaska June job numbers up from year earlier, lag June 2019

Updated: Jul. 22, 2022 at 2:15 PM AKDT
|
By Becky Bohrer
The state labor department says Alaska had about 7,900 more jobs last month than in June 2021.

News

Kenai Peninsula shores closed to razor clamming for 8th straight year

Updated: May. 23, 2022 at 3:59 PM AKDT
|
By Joey Klecka
Fish and Game said in a release that adult razor clam abundance surveys completed at Ninilchik and Clam Gulch beaches in April and May of this year were below the abundance threshold required to allow limited clamming on those beaches.

News

Alaska’s first Tesla Supercharger station opens in Soldotna

Updated: May. 7, 2022 at 10:00 AM AKDT
|
By Joey Klecka
The first Tesla Supercharger station in the state of Alaska is now open for use in Soldotna.

Economy

Alaska March job numbers up over prior year, lag March 2019

Updated: Apr. 15, 2022 at 9:05 PM AKDT
|
By The Associated Press
A new state labor department report shows that Alaska gained jobs last month over March 2021 but lags behind pre-pandemic job numbers.

News

Thursday is the last day to file for a 2022 Permanent Fund dividend

Updated: Mar. 31, 2022 at 12:04 PM AKDT
|
By Joey Klecka
Alaska residents have until 11:59 p.m. tonight to file for a 2022 Permanent Fund dividend check.

Economy

Before recent rise in inflation, Alaska wages grew 11% from 2010 to 2020

Updated: Mar. 7, 2022 at 10:23 PM AKST
|
By Patrick Enslow
Alaskans cashed in from 2010 to 2020 as yearly wages rose 11% from 2010 to 2020 when adjusted for inflation, according to the Alaska Department of Labor and Workforce Development.

Economy

State of marijuana: Concerns grow that if marijuana becomes federally legal, Alaska’s industry could be hurt

Updated: Mar. 7, 2022 at 4:32 PM AKST
|
By Rebecca Palsha
Alaska's marijuana industry is thriving more than seven years after legalization. But, according to industry experts, federally legalized marijuana could put local grows, manufacturers and pot shops out of business. This week, Alaska's News Source looks at the impact of the marijuana industry in Alaska since legalization.

News

Public meeting held for proposed West Susitna Access Road

Updated: Feb. 24, 2022 at 11:46 AM AKST
|
By Patrick Enslow
The Matanuska-Susitna Borough held a public meeting centered around the proposed West Susitna Access Road on Wednesday.

Economy

ConocoPhillips Alaska reports $451 million in 2021 fourth quarter net income

Updated: Feb. 3, 2022 at 4:21 PM AKST
|
By Joey Klecka
ConocoPhillips Alaska, part of the petroleum giant based in Texas, reported $451 million in net income in the fourth quarter of 2021, with an estimated $420 million in taxes and royalties.

State

2022 Alaska job forecast expects to recover 9,800 jobs over the coming year

Updated: Jan. 11, 2022 at 9:32 PM AKST
|
By Patrick Enslow
The Alaska Department of Labor and Workforce Development released its 2022 job forecast as the economy continues to recover.
News
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