Economy

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

Coronavirus fears fuel assault on Bering Sea fishing boat, federal prosecutors charge

Maurice Young was a housekeeper and galley assistant on the 235-foot SeaFreeze America. A day before the assault, the victim -- a processor on the ship -- criticized Young “for serving food without gloves,” prosecutors said in a court filing.
a seafood plant

Trident Seafoods to sell 4 Alaska processing plants

Trident’s processing plants in Kodiak, Ketchikan, Petersburg and False Pass are all now for sale.

Peltola flips script on long-running congressional drama over Arctic drilling

Room 1324 has seen this Alaska controversy play out for decades. This time, new characters changed the vibe.
A gas station sign showing gas prices

Alaska gas prices among highest in U.S., despite producing most of it in-state

Even though Alaska supplies and produces the majority of its own gasoline, consumers are stuck paying prices based on other West Coast states.
Alaska Native artwork

As Alaska tourism rebounds, state and federal officials crack down on fake Alaska Native art

It’s a federal crime to sell art that is falsely marketed as created by an Alaska Native or tribal member.
hemp

Hemp growers sue Alaska agriculture officials in attempt to keep hemp products legal

Plaintiffs say millions of dollars in products are at stake and will be removed from shelves unless they win.
Bill Walker, fifth from left. As a Valdez City Council member, Walker traveled with a delegation from the Organization for the Management of Alaska Resources (later the Resource Development Council) to meet with California Gov. Jerry Brown to advocate for a gas line, 1977. (Photo courtesy of Bill and Donna Walker)

Man on a mission: Gov. Walker and the gas line

The announcement this summer that Alaska will pursue a state-owned natural gas pipeline is a major U-turn after more than a decade of negotiations with the big three North Slope oil companies.
A Regal Cinemas movie theater in East Anchorage.

Anchorage’s only IMAX theater is on a bankruptcy chopping block

If the Regal Cinema Stadium 16 theater in Anchorage closes, then Fairbanks would have Alaska’s sole IMAX screen.
a man in a suit speaks to a room of people

Alaska House votes unanimously to support Willow oil project

The Biden administration could decide the project’s future as soon as March 6.

Army initiates cleanup at former Haines fuel terminal

The Haines-Fairbanks Pipeline that was built by the Army in the 1950s polluted Alaska land through fuel spills and leaks. The Army is now working to assess the contamination so that it can be cleaned up for good.

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.
two kids color at a table

Advocates finalizing plan to use Anchorage marijuana tax revenue on child care

Some of the funding could be distributed as early as this fall, with much of it getting sent out by January of next year.
pipeline

State expects Willow and Pikka to push oil production up 30% by 2032

Natural Resources Commissioner John Boyle told lawmakers he expects a more than 30% production increase by the start of the 2033 fiscal year.

Gov hopes nonpartisan politics will help cross party lines

Gov. Bill Walker is in Juneau preparing for tomorrow's start to the legislative session. Regardless of other considerations, the big challenge will be finding common ground with lawmakers over how to fix the state's large and growing budget deficit. Download Audio
a building outside

Alaska Legislature’s new apartment building is on budget and on schedule

The joint House-Senate Legislative Council has agreed to spend almost $9 million turning the building into 33 apartments. 

Hilcorp fined again for deviating from permit at Milne Point

The company was fined $267,000 for substituting equipment without authorization, the latest in more than 60 compliance issues.
a Chugach electric sign

Green energy advocates say Anchorage utility ‘freezing out’ efforts for gas-saving price structure

An Anchorage nonprofit wants state regulators to force Chugach Electric Association to hand over detailed data on customers’ energy consumption.
activists

Juneau advocates seek Saturday ban on large cruise ships next season

Karla Hart says Juneau residents deserve one day a week when they can visit local businesses and attractions free of summer tourists.
A line graph shows historical jobless rates by race in Alaska

LISTEN: What can history tell us about which Alaskans face the greatest barriers to employment?

Nationally, Black and Asian Americans are facing a much greater increase in the unemployment rate, compared to white Americans.

COVID-19 almost sank the Haines bookstore. A local author’s national fans saved sales

Kane opened in March, a week before the COVID-19 pandemic shut down retailers for months.