2007 AEDC Annual Report

On behalf of the Board of Directors, I am pleased to present the 2007 Annual Report from the Anchorage Economic Development Corporation (AEDC) to its investors and the broader business community.

Twenty years ago when AEDC first opened its doors, Anchorage’s economy was heavily dependent on a single industry — natural resource extraction. During those years, the city experienced the effects of this dependency, as the price of oil and our economy collapsed.

However, today I am happy to report that Anchorage is in its 20th year of economic growth. The  Municipality of Anchorage, AEDC and many other non-profit organizations and private corporations have worked hard to grow and diversify the Anchorage economy.

State-of-the-art health care facilities, a proliferation of retail businesses, a strong tourism industry and a booming professional services sector are just a few of the growth areas contributing to our contemporary economy.

Our busy international airport is number one in the U.S. for landed weight of cargo aircraft and number three in the world for cargo throughput, making Anchorage a prime international logistics hub. And, the Port of Anchorage, undergoing a more than $500 million expansion, is the hub for the entire state for most goods entering Alaska.

Anchorage also enjoys an unsurpassed quality of life. Outdoor recreation opportunities include world-class downhill ski areas, hundreds of miles of cross-country skiing and biking trails, excellent fishing, hiking and boating – all within the comforts of a well-established urban area. A higher-than-average median income and very low tax rate make Anchorage a fantastic place to work and play.

AEDC is charged with growing and diversifying the Anchorage economy. I know that with the great partnerships and many successes already in hand, we will continue to promote economic growth in Anchorage and the State of Alaska for a long time to come. I would like to thank Sophie Minich for her leadership as Chair of AEDC in 2007. I would also like to thank Mayor Mark Begich and the members of the Assembly and all AEDC investors for their generous support of our organization.

Brian G. Nerland, President, Alaska District
KeyBank, N.A.

Download the full report (PDF file) here: 2007 AEDC Annual Report