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Economic Report 12-2018

Economic Report 12-2018

In this Issue: Recession still a drag on Anchorage | Survey shows an uptick in consumer confidence Increased confidence, but there is still caution Anchorage housing starts, building permit values are down Permanent Fund gained 10.74 percent in FY 2018 Business Intelligence Fairbanks gets ready for military population influx Carnival finalizes white pass deal Transfer of Fairbanks’ derelict Polaris building completed Lack of housing crimps seasonal labor supply in Homer Nome to vote on hotel tax increase Ketchikan to Seattle: “Come…

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Economic Report 11-2018

Economic Report 11-2018

In this Issue: Business Intelligence Report: ANCSA regional corporation revenues dipped in 2016 Alaska inflation trails national average Costco to open new store in Fairbanks in November It’s official: REI to relocate in Anchorage’s midtown State auctions state lands, nets $2.42 million Anchorage may ban plastic bags, joining other Alaska cities Marijuana tax revenue tops $1 million third month in a row Tara Sweeney confirmed as assistant secretary for Indian affairs Petersburg agrees on new contract with employee unit Homer…

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Economic Report 10-2018

Economic Report 10-2018

In this Issue: Economy Recession lingers, but some industries stabilize State to contract for marketing, sales of state park merchandise FCC  probes Alaska telecom’s charges to rural hospitals Business Intelligence It is near-official: REI to move to Anchorage’s Sears midtown mall Despite recession, 2017 a good year for First National Pentagon backs off on burdensome rule on 8-a contracting Anchorage gets first private mixed-use housing proposal Buyer backs out on Juneau nugget mall deal Niche cruise company marketing early-season tourism…

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Health care

Health care

New idea coming on insurance “80th percentile” payment rule State Sen. Cathy Giessel says she is working with state insurance director Lori Wing-Heier on a possible modification of the “80th-percentile” rule, a state regulation requiring insurers to pay health providers at the 80th percentile for medical procedures. Business groups and insurance companies have long blamed this for part of the steady rise in Alaska health care costs, and the belief is now backed  by research by the University of Alaska…

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Minerals

Minerals

Corps sticks with its schedule on Pebble EIS The U.S. Army Corps of Engineers is sticking with its January target to complete a Draft Environmental Impact Statement for the proposed Pebble copper/gold/molybdenum mine near Iliamna but will keep the DEIS open for public comment for 90 days rather than the usual 45 days. In a briefing July 26, Shane McCoy, the Army Corps’ Alaska district Pebble program manager, said that a Record of Decision, clearing the way for federal permits…

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Petroleum

Petroleum

With new oil, ConocoPhillips likely to increase Alaska capital spending ConocoPhillips will likely increase its Alaska capital spending from $1 billion a year to $2 billion a year in the early 2020s as it tackles development of Willow, its new National Petroleum Reserve-Alaska discovery, and other recent finds, state officials said. The company briefed Gov. Bill Walker and other officials July 16. ConocoPhillips also hosted a group of analysts in Anchorage, and to a North Slope visit for briefings on…

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Fisheries

Fisheries

Fishing is hectic in Bristol Bay; statewide, sockeye is down 12 percent At the July 4 peak of the Bristol Bay sockeye season there were 674 boats fishing in the Nushagak region compared with 389 in 2017; 308 in 2016; 325 in 2015 and 335 in 2014. Fishing is so hectic that ice deliveries to fishermen, which are important to maintain quality, were cut sharply. Most boats fishing in Bristol Bay are equipped with refrigerated water systems but 10 percent…

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Permanent Fund gained 10.74 percent in FY 2018

Permanent Fund gained 10.74 percent in FY 2018

Alaska’s Permanent Fund gained 10.74 percent in Fiscal Year 2018, which ended June 30. Assets totalled $64.894 billion in value as of that date. The gain exceeded the Fund Trustees’objectives of 7.87 percent and a benchmark of 8.2 percent gain by a peer group of endowment-type funds.

Anchorage housing starts, building permit values are down

Anchorage housing starts, building permit values are down

Anchorage’s housing starts will drop to 440 in 2018, down from 532 in 2017. Building permit values in Anchorage are down,  too, which mainly reflects the slowdown in public, mainly state-funded, construction, an effect of lean state capital budgets. AEDC’s estimate for 2018 is $380 million in permit values, down from $422 million in 2017 and $549 million in 2015, the year oil prices dropped, and the recession began. Residential permit values are holding steady, however, and there are number…

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Increased confidence, but there is still caution

Increased confidence, but there is still caution

A deeper dig into the consumer index, however, shows there is still caution, with a 52.3 percent score for confidence in the present Anchorage economy and 54.2 per-cent in expectations that things will improve. The trend in expectation for the future is important, Popp said. “Last year at this time it was at 38,” he said. What drives up the overall score, which is a composite, is that consumers’ sense of their own finances was at 68.1, “the best it…

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