Alaska Thrives on Energy and Biotech Investment
The state's proximity to Asian markets and maturing native corporations are emerging as development drivers.
Oct/Nov 08
The Alaska Natural Gas Development Authority (ANGDA) is building a $2 billion to $3 billion in-state spur pipeline project that will connect in-state natural gas markets to Alaska's North Slope natural gas supplies. The spur pipeline is designed to connect to a proposed larger $30 billion pipeline that will supply natural gas to the lower 48 states
In wind energy, Alaska's first large-scale wind project will result from an exclusive relationship between CIRI and enXco Development Corporation to develop, in cooperation with several Railbelt utilities, the state's largest wind energy project on Fire Island. The first phase of the project could be online in 2009.
According to Popp, the mining industry generated $1.5 billion in 2007, with higher expectations for 2008. The mining industry's resurgence is causing a ripple effect in Anchorage, which is home to many headquarters or operational offices and logistical support for the industry. In Northwest Alaska, the Red Dog mine is reputed to be the largest zinc mine in the world. Other natural resources include lead, gold, coal, copper, and silver.
Alaska native corporations that have grown and matured over last 20 years have emerged as a significant national and global economic force. "We have at least four native corporations that are now in the billion dollars-plus annual revenue category," says Popp. These firms are involved in high tech, real estate, tourism, resource extraction, civil engineering, architecture, and special services.
Potential for exploration in the life sciences, pharmaceuticals, and biotechnology hinge on Alaska's strategic location between Europe, Asia, and the Western United States, according to Popp: "These companies can stage pharmaceutical shipments through this region into the Pacific Rim as well as explore opportunities in the form of plants and wildlife to produce biotechnology products and pharmaceuticals from our unexplored and underdeveloped biomass.
Project Announcements
Alaska Airlines Expands Facility Hub at Seattle, Washington Airport
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Apple Builds New Reno, Nevada, Facility, Searches for New U.S. Campus Site
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Bidding War Begins to Lure Toyota-Mazda $1.6 Billion Joint Venture Assembly Plant
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Manufacturers Less Optimistic About Overall Economy; Express Confidence in Their Own Revenue Growth
07/20/2016
Cushman & Wakefield Reports on Continuing Momentum for Industrial Real Estate Markets
07/15/2016
American Fast Freight To Open 6,000 Square Foot Terminal In Kodiak, Alaska
04/08/2014
Caelus Energy Enters Energy Exploration Arena On Alaska’s North Slope
10/28/2013
Three Firms Planning LNG Project Choose Nikiski, Alaska, As Lead Site For The $45-$65 Billion Project
10/10/2013
Analysis: Only Nine States Have Posted Overall Job Gains in Past Five Years
12/27/2011
Overall Unemployment Declined in June, Bureau of Labor Statistics Reports
07/20/2010
Alaska Exports Rebounded As 2009 Ended
03/16/2010
Radiance Technologies Plans Lincoln Parish, Louisiana, Microchip Packaging Operations
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Wyandot Snacks Expands Marion, Ohio, Production Operations
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Trane Technologies Expands Fort Smith, Arkansas, Operations
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