For the seventh year in a row, AEDC is conducting a survey of Anchorage businesses, to gauge business confidence as we go into the new year. The results of this survey are released at the AEDC Economic Forecast Luncheon. The surveythe size of your business to helps AEDC understand the immediate needs of the business community in Anchorage. The survey takes 5-minutes and asks questions that range from the size of your business to barriers to growth and whether or not you support a local sales tax. Take the survey today and you will be entered to win a table to the AEDC Economic Forecast Luncheon in January.
For the first time, Anchorage Economic Development Corp. hosted a First Friday on Nov. 7, 2014. As the signature Live. Work. Play. event of the year, the First Friday showcased printed photos, sourced from the I Love Anchorage Instagram account that AEDC manages.
The event celebrated life in Anchorage. AEDC, with a lot of help from kpb architects, printed all the photos posted to the I Love Anchorage Instagram account in it’s inaugural year. The photos show Anchorage from the perspective of more than 60 Anchorage residents, business and organizations. The artwork was displayed in the lobby of the Egan Center with the help of Art Services North.
The First Friday event not only had photos on display, but members of the Live. Work. Play. areas of focus were on hand to discuss their efforts with the public. Community Safety, Creative Placemaking, Housing and One Anchorage One Economy were all on hand, informing attendees of their programs and progress in Anchorage.
The community participated in the First Friday by sharing what they love about Anchorage on what started as a blank banner that quickly filled with words describing their reasons for loving Anchorage. Reasons ranged from “the great outdoors” to “friends” and “Kaladi.”
If you missed the exhibit and would like to see it, stay tuned as we find new locations for it to visit. Do you have a good place to exhibit it? Contact us!
The First Friday would not have been possible without the enthusiastic participation of all the I Love Anchorage hosts. We appreciate everyone who helped make this project possible!
Special thanks to kpb architects, Art Services North and the band providing live music: 2 Cent Acre.
Following an all-time high in the second quarter of this year, confidence in the Anchorage economy continued to set records in the third quarter, according to the latest Anchorage Consumer Optimism Index (ANCi) report released by the Anchorage Economic Development Corp. The resolution of the oil tax repeal, low unemployment rates and the entry of national retail chains are likely drivers of the boost in confidence.
Sponsored by KeyBank and produced by Northern Economics, Inc. on behalf of AEDC, the ANCi measures consumer confidence using data from a random quarterly sample of at least 350 households in the Municipality of Anchorage. The ANCi reading is expressed on a scale of 0 to 100; a value over 50 indicates relative confidence in the economy and the distance from that median indicates the strength of that confidence.
Comprised of three individual components — Local Economy Confidence, Personal Financial Confidence and Expectations for the Future — the overall reading has risen steadily this year and currently sits at an all-time high of 63.4, a 0.1 point increase from last quarter. The more stable six-month average rose 1.5 points to 63.3, also a new record high.
“The increase in consumer optimism reflects what we’re seeing with our commercial and consumer clients,” says Brian Nerland, KeyBank’s Alaska President. “Business and consumer borrowing is growing and that reflects a general positive feeling about the Anchorage economy.”
The Local Economy Confidence component increased by 0.7 points from last quarter to a new high of 65.9. According to the report, this increase can be traced back to resolution of oil tax uncertainty, continued low unemployment rates in Anchorage and new national retail chains in Anchorage. Personal Financial Confidence, the strongest component of the ANCi, also reached a new high with a reading of 68.7.
ANCi’s Expectations of the Future component was the only reading that dropped, falling 0.8 points from the record high set last quarter. At 59.6, this component still holds the second-highest position in the history of the index. The report suggests that the drop is due to uncertainty surrounding the gubernatorial and congressional elections and how they might affect the future of large projects such as the Susitna Watana Hydro project and the natural gas pipeline.