AEDC report projects increased jobs and projects for next decade

The Anchorage Economic Development Corp. released its annual 2013 Resource Extraction 10-Year Project Projection Report this week, and for the first time in five years, the outlook is optimistic.

In 2013, AEDC projects as many as 14,362 jobs to be generated during peak construction, stemming from $24.6 billion of private sector investments in 18 resource extraction projects proposed for development in Alaska in the next decade.

AEDC presented the report on Wednesday to its members and industry representatives at the Hotel Captain Cook, providing a glimpse into the future of Alaska’s natural resource development industry and projected job growth in the oil, gas and mining sectors.   

“The resource extraction projects developed in the next 10 years will be vital for a more diversified economy, new jobs and a lower cost of energy for all Alaskans,” said AEDC president and CEO Bill Popp. “The wealth generated by these projects combined with the industry as it stands makes us optimistic for our continued economic growth.”

Still, Alaska’s competitiveness in global markets remains challenged in many ways. Popp also cites social compacts, taxation, permitting, litigation, commodity pricing, high costs related to project development and access to needed infrastructure as continued challenges for many projects in Alaska.

“The most important thing we can do for the development of our economy is to continue to seek and actually find common ground when it comes to these projects,” Popp said. “It’s up to us to take charge of our own destiny as a state.”

Download the full report (PDF file), prepared with support of Northrim Bank, Petroleum News and North of 60 Mining News, here: 2013 AEDC Resource Extraction Report

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