Promote economic development opportunities.
- Statewide Economic Development Strategy Implementation
|Mission Results||Core Services|
|A: Result - Economic opportunities for Alaskans are optimized.|
Target #2: Maintain or improve total nonfarm employment.
Analysis of results and challenges: The employment numbers exclude self-employed workers, fishers, domestics and unpaid family workers. Job losses continued for a second year during calendar year 2017. Loses to non-farm wage and salary employment were less in 2018 than 2017.
Target #3: Increase corporation tax revenue as a result of increased economic activity.
State of Alaska Corporate Tax Liabilities (millions)
Analysis of results and challenges: Amounts reflect the total general fund tax collections as reported on corporate income tax returns. Overall, corporate taxes have been declining since 2011.
|A1: Core Service - Research|
Target #1: Promote Alaska's economic assets and industries to external audiences through development of research projects.
Research Projects Undertaken
Analysis of results and challenges: Projects include total quantity of primary and secondary research projects the Division of Economic Development designed, implemented, and/or coordinated. Natural resources include seafood, minerals, and wood product industries.
|A2: Core Service - Statewide Economic Development Strategy Implementation|
Target #1: Respond to business inquiries through direct service and outreach activities.
Analysis of results and challenges: FY2018 marks the first year of implementation of the state’s five-year Comprehensive Economic Development Strategy (CEDS). The division’s CEDS was approved by the United States Economic Development Administration in February of 2018. Feedback was gathered from the CEDS Strategy Committee to determine the first set of objectives to implement. The division collaborated with communities and economic development organizations around the state to begin the implementation of the Phase 1 objectives during FY2018.
Sponsorships include events and physical projects sponsored by the division to assist in the implementation of the CEDS. These activities and sponsorships span from the Made in Alaska program, the division’s primary activity and tool utilized to increase import substitution, to sponsorship of a coding school to help develop and retain technology expertise in state. Additionally, the division sponsored and participated in the Juneau Economic Development Council’s annual Innovation Summit in February 2018, presenting the prioritized Phase 1 priorities of the statewide CEDS. This activity helped garner partners for cooperation on many CEDS goals including workforce development, resource extraction, visitor industry, the ocean economy, energy, the arts economy, and entrepreneurship. Other activities to promote the CEDS includes topics on resource extraction, microfinance, and foreign direct investment. The division foresees the number of these activities to grow in the coming years. Sponsorships are forecasted to remain steady throughout the next few years.
Current as of December 9, 2019