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Economy

  • Forecasting Alaska

State

This image taken through a window of a plane shows wind turbines in Deadhorse, Alaska on...

Trump officials visit key operations at prolific Alaska oil field amid push to expand drilling

Updated: 3 hours ago
|
By Lauren Maxwell, Becky Bohrer, Mark Thiessen and The Associated Press
Three Trump Cabinet members began a tour at a key point of operations at a prolific oil field near the Arctic Ocean in Alaska on Monday, part of a multiday trip aimed at highlighting President Donald Trump’s push to expand oil and gas drilling, mining and logging in the state.

Community

The 237-foot long S.S. Nenana operated along the Tanana and Yukon Rivers from 1933 until 1954.

Fairbanks borough mayor to allow federal funding for SS Nenana after assembly vote

Updated: 4 hours ago
|
By Alex Bengel
The historic riverboat SS Nenana may see $500,000 in federal maintenance funding come through after the Fairbanks North Star Borough Assembly voted 5-3 to request borough Mayor Grier Hopkins to allow the group Friends of S.S. Nenana to accept the money.

Economy

Downtown Fairbanks

Despite economic uncertainty, changes in Fairbanks restaurants, chamber of commerce remains optimistic

Updated: May 27, 2025 at 6:33 PM AKDT
|
By Adrian Peterson
As Lavelle's Bistro will soon close, other changes to Fairbanks restaurants could produce a small rise in unemployment, but a strong economy in Fairbanks suggests the impacts will be minimal.

Economy

Tourists were back in downtown Anchorage on Wednesday, visiting from the three cruise ships...

‘We call summer ‘Christmas’': Financial boost of tourism season back on Anchorage streets

Updated: May 21, 2025 at 6:27 PM AKDT
|
By Georgina Fernandez
Tourists are back in downtown Anchorage in full force, and according to Visit Anchorage, the city is anticipating a tourism season similar to years prior.

Economy

Post-COVID summers saw an increase in tourism in Fairbanks, with visitor numbers flattening...

Fairbanks 2025 summer tourism season begins

Updated: May 21, 2025 at 6:11 PM AKDT
|
By Alex Bengel
Post-COVID summers saw an increase in tourism in Fairbanks, with visitor numbers flattening out in the last couple of years.

Travel

Whittier welcomes 3 cruise ships at once for 1st time in new terminal

Whittier welcomes 3 cruise ships at once for 1st time

Updated: May 21, 2025 at 4:33 PM AKDT
|
By Tracy Sinclare
For the first time, three cruise ships have docked in Whittier at the same time.

Community

Numbers for the month of March are down in all areas Explore Fairbanks tracks.

Fairbanks’ tourism bureau expresses concern over March visitor numbers

Updated: May 16, 2025 at 6:34 PM AKDT
|
By Alex Bengel
Numbers for the month of March are down in all areas Explore Fairbanks tracks.

Community

Fairbanks North Star Borough Assembly passed a budget for the next fiscal year, restoring Mary...

Fairbanks North Star Borough budget passage bolsters education funding, restores monies for rec center

Updated: May 9, 2025 at 6:37 PM AKDT
|
By Alex Bengel
The Fairbanks North Star Borough Assembly passed a budget for the next fiscal year, restoring Mary Siah Recreation Center and putting an additional $2.7 million into local education.

Community

The 237-foot long S.S. Nenana operated along the Tanana and Yukon Rivers from 1933 until 1954.

Fairbanks borough declines federal grant to paint historic sternwheeler, citing concerns over strings attached

Updated: May 6, 2025 at 3:51 PM AKDT
|
By Alex Bengel
The 237-foot long S.S. Nenana operated along the Tanana and Yukon Rivers from 1933 until 1954.

Community

An Anchorage non-profit that has spent the last two decades helping grow small businesses, is...

‘Cut off at the knees’: Anchorage nonprofit aimed to help small businesses loses federal grant funding

Updated: Apr. 30, 2025 at 4:13 PM AKDT
|
By Georgina Fernandez
An Anchorage non-profit that has spent the last two decades helping grow small businesses is losing its funding.
7 Day Forecast
7 Day Forecast

Community

Regular customers at Garden Island on Tuesday all expressed sadness that the store was closing.

Long-time Fairbanks deli store to close its doors

Updated: Apr. 29, 2025 at 12:55 PM AKDT
|
By Alex Bengel
Garden Island Deli, a convenience store, liquor store, and sandwich shop on Illinois Street in Fairbanks, plans to close this week after nearly 60 years in business.

State Legislature

January 2025.

Intense debate surrounds potential state savings account draw to cover budget deficit

Updated: Apr. 21, 2025 at 10:17 PM AKDT
|
By Beth Verge
As lawmakers debate whether or not to use to draw on the Constitutional Budget Reserve for the purpose of covering a portion of the state’s budget deficit this year, you might be wondering exactly what the CBR is, how it works, and what it can do for Alaskans.

State Legislature

Alaska Gov. Mike Dunleavy speaks with Alaska's News Source on Nov. 6, 2024.

In veto of education funding bill, Dunleavy points, in part, to sinking oil prices

Updated: Apr. 18, 2025 at 6:54 PM AKDT
|
By Beth Verge
Gov. Mike Dunleavy, R-Alaska, vetoed HB 69 on Thursday morning.

News

Kratom in Alaska

Kratom capsules: you can buy them in Anchorage, but should you?

Updated: Apr. 18, 2025 at 2:35 PM AKDT
|
By Rebecca Palsha
In smoke shops, cannabis and vape stores and gas stations across Anchorage, consumers can buy kratom. But should you?

Economy

Anchorage businesses recognized for their outstanding partnerships with ASD

Anchorage businesses recognized for outstanding partnerships with ASD

Updated: Apr. 14, 2025 at 4:29 PM AKDT
|
By Casandra Mancl
The Anchorage Chamber of Commerce recognized on Monday the many business partnership programs that support local schools and that connect with students for their outstanding involvement in its annual Spirit of Tomorrow Awards ceremony.

News

Seeds on the ground a farm in the Nenana-Tochaket agricultural area.

USDA experiencing funding cuts: How that impacts Alaska’s economy

Updated: Apr. 11, 2025 at 8:32 PM AKDT
|
By Justin Mattson
The Department of Government Efficiency (DOGE) federal funding cuts are impacting allocations to programs meant to help provide increased access to locally grown food.

State Legislature

Amid market roller coaster, oil prices stoke state lawmaker concerns over budget

Amid market roller coaster, oil prices stoke state lawmaker concerns over budget

Updated: Apr. 9, 2025 at 5:26 PM AKDT
|
By Beth Verge
State lawmakers grappling with an already-massive budget deficit for both the current and upcoming budget years are now facing another layer to that huge challenge in plummeting oil prices, which have fallen about 15% overall since the Trump Administration’s announcement of sweeping tariffs.

Economy

Alaska residents have until 11:59 p.m. to either file online or send a postmarked paper...

Alaska Permanent Fund suffers multibillion-dollar decline amid Trump tariff-driven market crash

Updated: Apr. 8, 2025 at 6:55 AM AKDT
|
By James Brooks
The Alaska Permanent Fund, the No. 1 source of general-purpose revenue for state services and the Permanent Fund dividend, suffered a multibillion-dollar loss during last week’s stock market crash.

News

Alaskan national forests might see increased activity after USDA timber memo

Updated: Apr. 7, 2025 at 10:14 PM AKDT
|
By Joe Allgood
A memo from the Secretary of the Department of Agriculture may increase timber production in Chugach and Tongass National Forests.

News

Alaska North Slope oil prices drop below state budget projections

Alaska North Slope oil prices drop below state budget projections

Updated: Apr. 7, 2025 at 10:04 PM AKDT
|
By Beth Verge
Oil prices sank again to start the week, with U.S. crude now below $60 a barrel and Alaska North Slope falling to under $68 a barrel at close.

State Legislature

Statue depicting William Seward in Juneau, Alaska.

As key bills advance, here’s an update on the Alaska Legislature’s biggest issues

Updated: Apr. 7, 2025 at 6:36 AM AKDT
|
By James Brooks and Corinne Smith
With more than half of Alaska’s regular legislative session over, attention in the state Capitol is focusing on a limited set of topics.

Energy

The affirmation comes with the Department of Energy’s amendment requiring that the project...

Questions loom as LNG project sees renewed interest at home and abroad

Updated: Apr. 4, 2025 at 11:56 AM AKDT
|
By Beth Verge
The renewed push for the development of a new liquefied natural gas line in Alaska is prompting more heated debate over the future of resource development in the state.

Economy

Stock markets on Wall Street

Stocks plunge amid tariff plans: Breaking it down for Alaskans

Updated: Apr. 3, 2025 at 8:37 PM AKDT
|
By Joey Klecka and John Thompson
Stocks on Wall Street took a nosedive Thursday, less than 24 hours after President Donald Trump announced widespread tariffs on a majority of goods imported into the United States.

News

El presidente estadounidense Donald Trump durante un evento para anunciar aranceles nuevos en...

Lawmakers react to Trump tariff announcements

Updated: Apr. 2, 2025 at 6:54 PM AKDT
|
By Beth Verge
As lawmakers across the country respond with mixed reactions to President Donald Trump’s announcement Wednesday of sweeping tariffs, Alaskans are also reacting.

Community

The structure, built in 1952, was once the tallest in Fairbanks.

Historic Fairbanks building expected to come down this summer

Updated: Mar. 31, 2025 at 6:33 PM AKDT
|
By Alex Bengel
The structure, opened in 1952, was once the tallest in Fairbanks.

News

March 31 is the last day for Alaska residents to file for a Permanent Fund Dividend

PFD filing deadline fast approaching

Updated: Mar. 31, 2025 at 5:31 PM AKDT
|
By Joey Klecka
The deadline to file for Alaska’s Permanent Fund Dividend is Monday night.

News

Gov. Mike Dunleavy, R-Alaska, told Alaska’s News Source Friday it was very important the...

Dunleavy calls in from Tokyo for international press conference on LNG developments

Updated: Mar. 27, 2025 at 9:34 PM AKDT
|
By John Thompson
In a press conference on Thursday evening, Governor Mike Dunleavy described meetings with several Asian countries to discuss liquified natural gas projects as positive, including a letter of intent that was signed in Taiwan.

News

The collected Salmon for the Silver Salmon run at Anchorage's Ship Creek.

Report: 2024 Salmon population numbers show sharp decline

Updated: Mar. 25, 2025 at 9:08 PM AKDT
|
By Justin Mattson
Over the last ten years there has been a steady decline in hatchery-reared salmon making their mark on Alaska’s economy.

News

ANWR

Alaska wins lawsuit that could open Arctic refuge to oil exploration

Updated: Mar. 25, 2025 at 6:14 PM AKDT
|
By James Brooks
A federal judge in Anchorage has ruled in favor of Alaska’s state-owned investment bank in a lawsuit that could clear the way for oil drilling in the Arctic National Wildlife Refuge, according to the Alaska Beacon.

Economy

Doors open to the Alaska state House chambers in Juneau.

Alaska House asks for cooldown in Trump-triggered US-Canada trade dispute

Updated: Mar. 24, 2025 at 8:06 PM AKDT
|
By James Brooks
The Alaska House of Representatives is asking the Trump administration and Canadian government to step back from a brewing trade war, according to the Alaska Beacon.

News

Alaska libraries, minority businesses face DOGE federal funding cuts

Updated: Mar. 21, 2025 at 8:32 PM AKDT
|
By Justin Mattson
More reaction is pouring in from the latest federal governmental cuts from the Trump Administration.

News

ANWR

Trump administration to open ANWR and NPR-A to oil and gas leases

Updated: Mar. 20, 2025 at 5:49 PM AKDT
|
By Nolin Ainsworth
In line with Trump’s executive order on Alaska energy, Interior Secretary Doug Burgum said the agency will reopen about 80% of the National Petroleum Reserve for lease to energy developers.

News

Juneau is the only capital city in the country without road access to the rest of the state.

State looks to build roadway connecting Juneau to highway system

Updated: Mar. 18, 2025 at 4:22 PM AKDT
|
By Quinn White
The Alaska Department of Transportation and Public Facilities has announced its plan to conduct a feasibility study to improve road access in Southeast Alaska.

News

Alaska Museums brace for financial impact of President Trump’s latest executive order

Updated: Mar. 17, 2025 at 7:27 PM AKDT
|
By Justin Mattson
In an effort to continue the downsizing of the federal government, President Donald Trump signed an executive order on Friday titled “Continuing the Reduction of the Federal Bureaucracy.”

Economy

Alaska state capitol in Juneau

New Alaska revenue forecast worsens state’s big projected budget deficits

Updated: Mar. 13, 2025 at 7:47 PM AKDT
|
By James Brooks
The state of Alaska is still facing a significant budget deficit despite a revised state revenue forecast published Wednesday by the Alaska Department of Revenue, according to the Alaska Beacon.

Economy

The New York Stock Exchange is seen in New York, Wednesday, Feb. 26, 2025.

Explainer: What’s a recession and why is rising anxiety about it roiling markets?

Updated: Mar. 11, 2025 at 5:49 PM AKDT
|
By The Associated Press
For now, the economy appears to be stable, but fears of a downturn are rising as investors, economists, and business executives are realizing that Trump’s import taxes are much more at the forefront of his economic policy this time than his last term in the White House.

Economy

President Donald Trump

Trade tensions rise as Pres. Trump threatens Canada with new tariffs on dairy and lumber; B.C. Premier threatens tolls on truckers

Updated: Mar. 7, 2025 at 3:50 PM AKST
|
By John Thompson
The warning was delivered via a press conference in the Oval Office on Friday, and it came one day after Trump issued a one-month reprieve to Canada on 25% tariffs.

Economy

President Donald Trump addressing newly instated tariffs during his address to congress on...

New tariffs likely to raise grocery & car prices, Alaska economist says

Updated: Mar. 5, 2025 at 4:46 PM AKST
|
By Jonson Kuhn
With President Donald Trump telling members of Congress Tuesday new U.S. tariffs imposed on Mexico, Canada and China will mean “a little disturbance,” an Alaska economist used coffee as an example to say 49th state consumers should prepare to pay even higher than the Lower 48 because of Alaska’s historic difficulty importing items.

News

Alaska Flag

Over 100 Alaska nonprofits & tribes say DOGE federal freeze will shut them down, report shows

Updated: Feb. 26, 2025 at 6:32 PM AKST
|
By Leah Thom
In the wake of recent Trump administration-signed executive orders, nonprofits nationwide are facing the possibility of significant federal funding cuts, leaving hundreds of Alaska tribes and nonprofit organizations confused and worried.

State Legislature

The Seward harbor.

Senate passes bill to finance new $135M Seward dock, terminal for passenger ships

Updated: Feb. 26, 2025 at 3:08 PM AKST
|
By Joey Klecka
A $135 million bill to build a new passenger dock in Seward that would harbor larger cruise ships was passed by the Alaska Senate Wednesday.

News

Gov. Dunleavy’s new fish farming bill would not allow salmon farming

Dunleavy: Fish farming bill would benefit Alaska’s fishing industry; others not so sure

Updated: Feb. 24, 2025 at 10:24 PM AKST
|
By Joe Allgood
Governor Mike Dunleavy released a video on Monday giving more detail on HB 111, which would lift a longtime ban on certain types of commercial fish farming if passed.

Politics

A recent study led by researchers at UAF and USC indicates that younger salmon are returning...

Alaska governor proposes lifting state’s longtime ban on fish farms

Updated: Feb. 24, 2025 at 9:24 AM AKST
|
By James Brooks
If signed into law, HB 111 wouldn’t allow salmon farming, but it would allow the farming of “any bony fish belonging to the osteichthyes class.”

Economy

 King Cove Beauty_Gail Bendixon 8-28-16

How a risky state investment in seafood cost Alaskans millions and left a fishing town in crisis

Updated: Feb. 20, 2025 at 12:42 PM AKST
|
By Hal Bernton and Nathaniel Herz
The Permanent Fund’s leadership and its hired management firm ignored or overlooked warning signs leading up to a $29 million deal between the state of Alaska and Peter Pan Seafood, according to details uncovered by a ProPublica investigation.

News

The winter crabbing seasons for Bristol Bay red king crab and Bering Sea snow crab offshore of...

Bering Sea snow crab harvest sees promising numbers despite back-to-back canceled seasons

Updated: Feb. 19, 2025 at 10:02 PM AKST
|
By Quinn White
The Bering Sea snow crab season opened in October after the Alaska Department of Fish and Game canceled back-to-back seasons in 2022-23 and 2023-24 due to low population numbers.

News

The Interior Tourism Conference, now in its 17th year, saw more than 100 people show up for...

Fairbanks Interior Tourism Conference brings industry leaders together

Updated: Feb. 12, 2025 at 4:41 PM AKST
|
By Alex Bengel
The conference is meant to bring industry leaders together to discuss topics regarding tourism.

News

The President of the Alaska Brewers Guild warns the price of craft beer may rise as a result...

Alaska beer prices could go up, trade association president worries about aluminum, steel tariff hike

Updated: Feb. 12, 2025 at 2:17 PM AKST
|
By Quinn White
President Donald Trump signed orders on Monday imposing a 25% tariff on all aluminum and steel imports into the United States.

News

President Donald Trump speaks with Japanese Prime Minister Shigeru Ishiba in the Oval Office...

Oil and gas analyst weighs in on potential United States, Japan LNG deal

Updated: Feb. 10, 2025 at 4:46 PM AKST
|
By Justin Mattson
The wake of President Donald Trump’s potential energy deal between the United States and Japan is garnering reaction from experts in the oil and gas industry.

State Legislature

Deckhands stack nets on a boat before heading out to sea to fish salmon, Thursday, June 22,...

Legislative seafood industry task force finalizes report to forward to fellow lawmakers

Updated: Jan. 29, 2025 at 7:36 PM AKST
|
By Beth Verge
A joint legislative task force centered on bolstering Alaska’s seafood industry has finalized a report that's been months in the making.

Economy

Rep. Sara Hannan, D-Juneau, poses a question to the Department of Revenue at a House Finance...

Alaska lawmakers told by DOR to expect state revenue losses in near future

Updated: Jan. 23, 2025 at 6:02 PM AKST
|
By Beth Verge
While certain portions of state revenue are on the decline, the department is also anticipating a rise in oil production within the next decade.

News

Proposal to implement sales tax in Anchorage draws suggestions on how the money might be spent

Anchorage employment expected to make full recovery to pre-pandemic levels, but challenges remain

Updated: Jan. 22, 2025 at 3:28 PM AKST
|
By Lauren Maxwell
The Anchorage Economic Development Corporation released its 2025 Economic Forecast.
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