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Economy

  • Forecasting Alaska

News

Bill Popp addresses a room full of local business leaders at AEDC's 2023 Economic Forecast...

Economic outlook ‘modestly optimistic’ for Anchorage in 2023

Updated: Jan. 25, 2023 at 7:07 PM AKST
|
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

Anchorage property values on the rise

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

The odds are good but the goods are odd--when it comes to homebuying. In 2022, Anchorage saw...

Anchorage home buyers face slim pickings

Updated: Jan. 4, 2023 at 6:18 PM AKST
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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

Brian Fechter has been named acting commissioner of the Department of Revenue.

Acting commissioner named for Department of Revenue

Updated: Nov. 7, 2022 at 12:21 PM AKST
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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Tribal leaders request permit to be withdrawn for Donlin Gold Mine project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gold mine — which mine advocates say would be located next to Crooked Creek, a tributary to the Kuskokwim River — be withdrawn.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
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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
|
By Kristen Durand and Shannon Cole
The delay in payment is tied to how each resident submitted their completed PFD application.
7 Day Forecast
7 Day Forecast

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
|
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
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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
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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

Supply chain delays: Anchorage bike stores say they are finally seeing products they ordered over a year ago

Updated: Nov. 30, 2021 at 7:53 PM AKST
|
By Georgina Fernandez
In an example of the ongoing issues with supply chain delays, Anchorage bike shops are just now seeing the products they ordered over a year ago.

News

A combination of winter weather and national supply shortages are causing a boot scarcity

Updated: Nov. 26, 2021 at 4:28 PM AKST
|
By Georgina Fernandez
A combination of winter weather and national supply shortage is causing boot shortages.

Economy

Alaska job numbers up 2.8% in October

Updated: Nov. 24, 2021 at 9:23 AM AKST
|
By Patrick Enslow
The Alaska job market saw a small uptick in October as the state's economy slowly recovers from the COVID-19 pandemic.

News

Alaska’s extended benefit period will be ending in December

Updated: Nov. 23, 2021 at 6:16 PM AKST
|
By Georgina Fernandez
Alaska’s extended benefit period will be ending on Dec. 11.

Economy

Local businesses preparing for Small Business Saturday

Updated: Nov. 21, 2021 at 5:32 PM AKST
|
By Tim Rockey
Local businesses are preparing for an influx of shoppers on Small Business Saturday.

Economy

Alaska jobs up from prior year, trail October 2019 levels

Updated: Nov. 21, 2021 at 12:03 PM AKST
|
By Becky Bohrer
Jobs in Alaska increased last month, but remain below pre-pandemic levels according to the department of labor.

Economy

Credit unions in Alaska, Washington intend to merge

Updated: Oct. 15, 2021 at 11:35 AM AKDT
|
By The Associated Press
Two credit unions, one based on Washington and one in Alaska, say they are seeking regulatory approval of their intent to merge.

Economy

PFD impacts more than just Alaska’s economy

Updated: Oct. 13, 2021 at 8:26 PM AKDT
|
By Connor Matteson
The Permanent Fund dividend will soon hit Alaskans' bank accounts, but how much does the PFD impact Alaskans and the economy?

Economy

‘This is significant’: Alaska Social Security recipients to see 5.9% rise in payments next year

Updated: Oct. 13, 2021 at 6:00 PM AKDT
|
By Sean Maguire
It's the biggest one-year rise since 1983 and will give welcome relief for low-income Alaska seniors.

Economy

Alaska Legislature plans PFD hearings as 2 senators test positive for COVID-19

Updated: Oct. 12, 2021 at 8:01 PM AKDT
|
By Sean Maguire
There is little hope that the fourth special session will end the dividend debates.

Economy

Too many jobs, not enough people: Panel focuses on impacts of workforce shortage in Alaska

Updated: Jul. 12, 2021 at 8:39 PM AKDT
|
By Marlise Irby
At this week’s “Make it Monday” forum in Anchorage, panelists talked all about the worker shortage crisis and how it’s impacting Alaska.

State

Alaska governor urges lawmakers to act on dividend plan

Updated: Jun. 8, 2021 at 5:42 AM AKDT
|
By The Associated Press
Lawmakers are in a special session with the state budget and Dunleavy’s dividend plan on the agenda.

Economy

Alaska ends weekly $300 federal COVID-19 unemployment benefit

Updated: May. 14, 2021 at 10:15 AM AKDT
|
By Jay Luzardo
The state will soon stop distributing a $300 weekly supplemental unemployment benefit that was brought on by the federal government during the coronavirus pandemic, joining over a dozen other states who have made similar cuts.

Economy

Governor unveils new Permanent Fund proposal, joining legislators to resolve the dividend debate

Updated: May. 12, 2021 at 5:10 PM AKDT
|
By Sean Maguire
Gov. Mike Dunleavy held a press conference from the Capitol in Juneau, where he discussed the future of the Alaska Permanent Fund.

Economy

‘It’s a seller’s market’: Housing market booming in Anchorage

Updated: Apr. 26, 2021 at 7:32 PM AKDT
|
By Marlise Irby
The housing market is booming in Anchorage and surrounding areas which is helping the economy during the pandemic.

Economy

Alaska governor says free COVID-19 shots for visitors starting in June

Updated: Apr. 16, 2021 at 3:22 PM AKDT
|
By Sean Maguire
The governor announced a tourism aid initiative and that visitors could get free COVID-19 shots starting on June 1.

News

PFD application deadline is Wednesday night

Updated: Mar. 30, 2021 at 4:49 PM AKDT
|
By Megan Pacer
The deadline to apply for this year’s Permanent Fund dividend is fast approaching, and Alaskans have until Wednesday evening to complete their applications.

Coronavirus

Nearly 23,000 Alaskans have applied for rental and utility COVID-19 relief before Friday night’s deadline

Updated: Mar. 3, 2021 at 5:04 PM AKST
|
By Sean Maguire
The Alaska Housing Finance Corp. says that close to 23,000 Alaskans have applied for a rental and utility assistance through a program that aims to provide relief during the COVID-19 pandemic.

News

New space in Midtown will serve as a one-stop shop for small business owners in Anchorage

Updated: Feb. 28, 2021 at 8:48 PM AKST
|
By Kristen Durand
According to the Alaska Small Business Development Center, 99% of all businesses in Alaska are considered small businesses.

News

Individual community data helps provide overall snapshot of economic outlook for state

Updated: Feb. 12, 2021 at 6:11 AM AKST
|
By Beth Verge
Despite a very tough 2020 and a drastic change in expectations for the upcoming tourism season, researchers are among those hoping for an improvement in the economy across Alaska.

News

Forecasting Alaska: Experimenting with edibles and biking, Alaskans continue to spend during pandemic

Updated: Feb. 2, 2021 at 3:57 PM AKST
|
By Lauren Maxwell
Consumer spending in Alaska was down in 2020 but some industries actually flourished.
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