{"id":52538,"date":"2021-04-27T10:26:47","date_gmt":"2021-04-27T18:26:47","guid":{"rendered":"https:\/\/aedcweb.com\/?p=52538"},"modified":"2021-04-27T10:26:47","modified_gmt":"2021-04-27T18:26:47","slug":"aedc-bod-recommends-strategies-to-combat-state-fiscal-crisis","status":"publish","type":"post","link":"https:\/\/aedcweb.com\/aedc-bod-recommends-strategies-to-combat-state-fiscal-crisis\/","title":{"rendered":"Anchorage Economic Development Corp. Board of Directors recommends strategies to combat state fiscal crisis"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;section&#8221; _builder_version=&#8221;3.22&#8243;][et_pb_row admin_label=&#8221;row&#8221; _builder_version=&#8221;3.25&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.25&#8243; custom_padding=&#8221;|||&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text admin_label=&#8221;Text&#8221; _builder_version=&#8221;3.27.4&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;]<\/p>\n<p>The Anchorage Economic Development Corp. Board of Directors released a letter to Gov. Dunleavy and the Alaska Legislature today, recommending the following strategies to be implemented as key components of a solution to the state\u2019s ongoing fiscal policy crisis:<\/p>\n<ul>\n<li>Limited, targeted budget cuts while maintaining and improving essential programs and services.<\/li>\n<li>A statewide sales tax that protects municipal sales tax collections and contributes new revenues to the state treasury.<\/li>\n<li>Adopting a constitutional amendment incorporating a percent of market value (POMV) strategy into the state constitution to protect the Permanent Fund for current and future generations.<\/li>\n<\/ul>\n<p>\u201cSince 2015, AEDC has advocated for a balanced approach to addressing the fiscal policy crisis that has limited our state\u2019s ability to grow its economy and communities. The organization has encouraged responsible spending, new broad-based sources of revenue and sustainable management of the Permanent Fund,\u201d said Bill Popp, AEDC President &amp; CEO, speaking on behalf of the Board of Directors. \u201cDespite six years of recession, the state has yet to develop a comprehensive, long-term strategy to address Alaska\u2019s ongoing fiscal uncertainty, and has nearly depleted Alaska\u2019s constitutional budget and earnings reserves. The COVID-19 pandemic has further threatened the economic well-being of our communities and businesses.\u201d<\/p>\n<p>The AEDC Board of Directors believes there needs to be a sense of urgency in addressing Alaska\u2019s ongoing fiscal crisis. It also recognizes that a comprehensive solution will require several elements, including identification of stable revenue sources, disciplined budgeting and measured spending. The Board of Directors stands ready to collaborate with the Legislature and be an active participant in this process, supporting these recommendations with the organization\u2019s perspectives, expertise and leadership.<\/p>\n<p>The 2021 AEDC Business Confidence Survey (BCi) represents the views of 210 Anchorage businesses. The survey identifies common themes in alignment with views held by the AEDC Board of Directors.<\/p>\n<p>When asked what issues were most important to the Anchorage economy, 79% of the businesses surveyed ranked \u201cSustainability of State of Alaska operating budget\u201d as most important. Other key takeaways from the report are as follows:<\/p>\n<ul>\n<li>73% of respondents support reductions to state spending.<\/li>\n<li>70% of respondents support a statewide sales tax.<\/li>\n<li>74% of respondents support a reduction of the Permanent Fund Dividend payout.<\/li>\n<\/ul>\n<p><strong>The board\u2019s full letter, including details and background for each recommendation, can be found<\/strong> <a href=\"https:\/\/aedcweb.com\/wp-content\/uploads\/2021\/04\/AEDC-State-Fiscal-Policy-Position-Statement-04-27-2021.pdf\">here<\/a>.<\/p>\n<p><strong>About AEDC <\/strong><br \/>AEDC is a private nonprofit corporation, operating since 1987. It exists to encourage growth and diversity in the Anchorage economy, promote a favorable business climate and improve the standard of living of Anchorage residents.<\/p>\n<p style=\"text-align: center;\">###<\/p>\n<p><strong>Media contact: <\/strong><br \/>Spencer Shroyer, AEDC<br \/><a href=\"mailto:sshroyer@aedcweb.com\">sshroyer@aedcweb.com<\/a><br \/>907-382-0356<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Anchorage Economic Development Corp. Board of Directors released a letter to Gov. Dunleavy and the Alaska Legislature today, recommending the following strategies to be implemented as key components of a solution to the state\u2019s ongoing fiscal policy crisis: Limited, targeted budget cuts while maintaining and improving essential programs and services. A statewide sales tax [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"The Anchorage Economic Development Corp. Board of Directors released a letter to Gov. Dunleavy and the Alaska Legislature today, recommending the following strategies to be implemented as key components of a solution to the state\u2019s ongoing fiscal policy crisis:\n<ul>\n \t<li>Limited, targeted budget cuts while maintaining and improving essential programs and services.<\/li>\n \t<li>A statewide sales tax that protects municipal sales tax collections and contributes new revenues to the state treasury.<\/li>\n \t<li>Adopting a constitutional amendment incorporating a percent of market value (POMV) strategy into the state constitution to protect the Permanent Fund for current and future generations.<\/li>\n<\/ul>\n\u201cSince 2015, AEDC has advocated for a balanced approach to addressing the fiscal policy crisis that has limited our state\u2019s ability to grow its economy and communities. The organization has encouraged responsible spending, new broad-based sources of revenue and sustainable management of the Permanent Fund,\u201d said Bill Popp, AEDC President &amp; CEO, speaking on behalf of the Board of Directors. \u201cDespite six years of recession, the state has yet to develop a comprehensive, long-term strategy to address Alaska\u2019s ongoing fiscal uncertainty, and has nearly depleted Alaska\u2019s constitutional budget and earnings reserves. The COVID-19 pandemic has further threatened the economic well-being of our communities and businesses.\u201d\n\nThe AEDC Board of Directors believes there needs to be a sense of urgency in addressing Alaska\u2019s ongoing fiscal crisis. It also recognizes that a comprehensive solution will require several elements, including identification of stable revenue sources, disciplined budgeting and measured spending. The Board of Directors stands ready to collaborate with the Legislature and be an active participant in this process, supporting these recommendations with the organization\u2019s perspectives, expertise and leadership.\n\nThe 2021 AEDC Business Confidence Survey (BCi) represents the views of 210 Anchorage businesses. The survey identifies common themes in alignment with views held by the AEDC Board of Directors.\n\nWhen asked what issues were most important to the Anchorage economy, 79% of the businesses surveyed ranked \u201cSustainability of State of Alaska operating budget\u201d as most important. Other key takeaways from the report are as follows:\n<ul>\n \t<li>73% of respondents support reductions to state spending.<\/li>\n \t<li>70% of respondents support a statewide sales tax.<\/li>\n \t<li>74% of respondents support a reduction of the Permanent Fund Dividend payout.<\/li>\n<\/ul>\nThe board\u2019s full letter, including details and background for each recommendation, can be found <a href=\"https:\/\/aedcweb.com\/wp-content\/uploads\/2021\/04\/AEDC-State-Fiscal-Policy-Position-Statement-04-27-2021.pdf\">here<\/a>.\n\n<strong>About AEDC <\/strong>\nAEDC is a private nonprofit corporation, operating since 1987. It exists to encourage growth and diversity in the Anchorage economy, promote a favorable business climate and improve the standard of living of Anchorage residents.\n<p style=\"text-align: center;\">###<\/p>\n<strong>Media contact: <\/strong>\nSpencer Shroyer, AEDC\n<a href=\"mailto:sshroyer@aedcweb.com\">sshroyer@aedcweb.com<\/a>\n907-382-0356","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[168],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Anchorage Economic Development Corp. 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