Author: David Jones

Climate change impacts Bethel, a small town of about 6,500 people in the Yukon-Kuskokwim Delta. Residents face shifts in weather, rising temperatures, and thawing permafrost, which have direct financial consequences.  With the high cost of living, unpredictable winters are driving up heating costs, leading to higher energy bills. Food prices also rise due to disrupted supply chains and reduced local fish and game availability. The financial impacts extend beyond daily expenses. Thawing permafrost is damaging homes and infrastructure, leading to costly repairs. The local economy, especially fishing and tourism, faces new challenges as the environment changes. Understanding the financial impacts…

Alaska’s economy is a dynamic mix of traditional industries and emerging sectors. In recent years, the state’s economic landscape has seen significant growth, with notable contributions from oil and gas, fishing, tourism, and technology. Understanding these Alaska economic trends is crucial for businesses, policymakers, and residents. This blog explores the latest data on Alaska’s GDP, employment rates, industry performance, and government initiatives, providing a comprehensive overview of the state’s economic health in 2024. Overview of Alaska’s Economy Alaska’s economy is primarily driven by natural resources, particularly the oil and gas industry. In 2024, Alaska’s gross state product (GSP) reached $55.0…

Have you ever wondered if fishing in Alaska can help make the economy better? Fishing in Alaska isn’t just about having fun; it’s also about helping to make more money for the state. Fishing here isn’t just a hobby; it’s a big part of how Alaska grows its economy. Throughout this blog, we’ll examine how fishing in Alaska contributes to economic prosperity. From creating jobs and employment opportunities to generating revenue through tourism and exports, we’ll uncover how the fishing industry fuels Alaska’s economy. Moreover, we’ll explore the potential for foreign investment and the opportunities for non-residents to participate in…

Rural development in Alaska is reshaping its economic landscape by reflecting unique challenges and opportunities in remote rural areas. The economy of rural Alaska, particularly in villages, differs significantly from urban areas, with a heavy reliance on federal and state transfers, high costs, and limited job opportunities. The region’s economy is intertwined with subsistence practices, Alaska native culture, and challenges in infrastructure and basic services. Rural Development Initiatives in Alaska Rural development in Alaska is a complex and multifaceted endeavor, with various initiatives and strategies aimed at reshaping the economic landscape of remote communities. Here are some key ways in…

Alaska, the “Last Frontier,” is renowned for its breathtaking natural landscapes and rugged wilderness. But beyond the glaciers and mountains lies a fascinating story waiting to be told – the story of Alaska’s population. What is Alaska’s Population? Alaska is the least densely populated state in the U.S., with a population hovering around 730,000. Despite its vast size, most Alaskans reside in urban areas like Anchorage and Fairbanks. Understanding the composition of this population, including ethnicities, age groups, and migration patterns, provides valuable insights into the state’s social and economic landscape. Examining the population of Alaska and trends isn’t just…

Did you know Alaska’s GDP growth has surpassed the national average for the past decade? Over the last ten years, Alaska’s economy has been on a remarkable trajectory, outpacing the national GDP growth rate. With diverse industries and strategic investments, Alaska has emerged as a powerhouse in economic expansion. In Alaska, GDP per capita in 2024 saw a significant increase, reflecting the state’s economic growth. This article will give a detailed overview of Alaska’s GDP, growth trends, and strategies. Alaska GDP Growth Overview Alaska’s GDP has shown steady growth, with notable fluctuations due to various economic events. Since statehood, Alaska’s…

Alaska travel companies contribute to the state’s economy through direct and indirect expenditures, job creation, and tax revenue generation. The cruise industry, in particular, is a significant contributor, with Alaska ranking 5th in the cruise industry, generating $1.3 billion or 5.1% of the direct expenditures generated by the cruise industry in the United States. Tourism-related businesses, such as tour operators, airlines, hotels, and travel agencies, receive a substantial portion of these expenditures, with approximately $807 million going to tourism-related businesses in Alaska. Alaska Tourism Industry Economic Impact The economic impact of tourism in Alaska is substantial, with the tourism industry…

An initiative led by the Anchorage Economic Development Corp. has unveiled plans for a new sales tax aimed at easing the burden of property taxes while funding vital public projects. Dubbed Project Anchorage and in development for approximately a year, the proposal is positioned as a catalyst for increased construction and economic vitality.  The group believes it could also stem the outmigration that has impacted Anchorage’s workforce. The proposed 3% tax on select items would be in effect for five years, and the public would be invited to suggest projects for funding. To mitigate the impact on lower-income households, essentials…

The global economy is set to grow significantly, with emerging markets leading the way. The latest forecast from the International Monetary Fund (IMF), published in April 2024, shows that many countries will see rapid economic growth in the next five years. The report points out that the top-performing economies are mainly in Africa and Asia, highlighting their strong potential for growth. One important measure in the IMF’s forecast is the compound annual growth rate (CAGR). Simply put, CAGR shows a country’s average annual economic growth rate over a set period, considering the effect of compounding. This means the growth rate…

Alaska’s economy depends on its job rate, which shows its workforce stability. In 2023, the rate stayed at 4.2%, showing Alaska’s ability to handle tough times. Despite a sharp rise to 8.3% in 2020, Alaska’s ability to bounce back showcases resilience. This narrative underscores the state’s capacity to adapt and persevere in challenging times, contributing to a deeper understanding of its economic landscape. This blog looks at how Alaska’s Unemployment Rate impacts businesses and workers. We’ll see how companies cope and how people deal with it. You will also find the Alaska unemployment statistics to understand better how it affects…

In April 2023, Anchorage voters approved Proposition 14, which permanently allocates the municipality’s marijuana tax revenue to support child care and early education programs. This new initiative, called the Anchorage Child Care and Early Education (ACCEE) Fund, represents Anchorage’s most extensive and dependable investment in these areas to date. The timing of this measure was crucial. Since 2019, the number of licensed childcare programs in Alaska has decreased by 20%, and for the first time in two decades, Anchorage has fewer than 200 licensed programs. Families, employers, and businesses are acutely aware that the scarcity of affordable childcare options is…

Something unusual is happening in the oceans. Fish are shrinking globally, and the cause is still a mystery. This phenomenon is observed in salmon near the Arctic Circle and skate in the Atlantic. According to a recent analysis, almost 75% of fish are shrinking globally, and marine fish populations sampled worldwide experienced a reduction in their average body size between 1960 and 2020. A team of scientists, spearheaded by the University of Massachusetts Amherst, recently discovered no physiological evidence to support a prominent theory regarding the shrinking of fish species as water temperatures rise due to climate change. This theory,…