FINANCE
Diverse Approaches to Economic Development
How regional organizations are stimulating growth By Tracy Barbour
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laska’s major regions— Southeast, Southcentral, Interior, Arctic, Northwest, and Southwest—all have their own economy. And where there is an economy, there is opportunity for economic development that can generate jobs and income for residents. Each of the state’s regions have various entities that focus on spurring economic development. As a result, Alaska’s regional economic development projects run the gamut, from village projects to resource development to large-scale projects. “I think the big thing that a lot of the economic development organizations around the state are thinking about is infrastructure spending,” says Nolan Klouda, executive director of the University of Alaska Center for Economic Development (CED). There’s considerable interest in how Alaska could best use money being proposed by the federal infrastructure spending bill. But there has not been a strong focus on infrastructure funding in recent years, so some Alaska businesses may not be ready to participate in this area, Klouda says. “A big focus for our center is what can we do to help get projects to a higher level of readiness, so they can get funding,” he says. 74 | July 2021
CED is a university-based partnership that promotes economic diversity through entrepreneurship, community building, and action-oriented strategy. It’s one of fifty-two University Centers designated by the US Economic Development Administration. CED leverages the resources of the university system to support economic growth statewide, from rural villages to urban cities. Essentially, CED provides technical assistance in the form of information and data, and it implements programs that promote economic development across the state. For example, the center is currently helping fishermen in the Yukon–Kuskokwim Delta analyze the feasibility of a cold storage project. Klouda identified a variety of initiatives underway or being examined across the state, including a project proposed by the Alaska Industrial Development and Export Authority for an all-season, industrial access road to the Ambler Mining District in the southern foothills of Alaska’s Brooks Range. The private road will provide access for mineral exploration, mine development, and mining operations by connecting the district with the Dalton Highway. The project, which is going through the permitting process,
will involve millions of dollars of roadwork and thousands of jobs over several years, according to Klouda. And there are other projects being explored around the state: · The Alaska-to-Alberta Railway, which would provide a proposed 1,500mile connection between the Alaska Railroad and Canadian railroads that serve the Lower 48; · an Alaska Railroad project connecting the train drop off spot in Seward to the dock; · building hydroelectric plants in Southeast to provide a cheaper, cleaner alternative to diesel fuel; · the expansion of the Port of Nome to transform it into a deep-water port; · and the development of shellfish farming opportunities in Prince of Wales Island. Here’s a regional look at some other economic development opportunities being explored around Alaska.
Southcentral Region Anchorage Economic Development Corporation Economic development in Southcentral and other parts of Alaska have been grossly impacted by the loss of jobs. “After six years of recession, in which we lost 6,000 jobs, and one
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