Economy

Anchorage, Alaska - population approximately 280,000 - is Alaska’s largest city and contains more than two-fifths of the state’s total population.  The foundations of the Anchorage economy are the oil and gas, military, transportation, and tourism and convention industries, but new economic sectors such as high-tech, light manufacturing, and telecommunications are up and coming.  According to the Anchorage Economic Development Corporation, Anchorage has enjoyed more than seventeen years of uninterrupted job growth. 

Transportation:  Anchorage is both a major port and a commercial air cargo hub.  Anchorage receives over 95% of all freight entering Alaska, as well as ranking fourth in the world for cargo throughput:  an estimated 90% of air cargo between North America and Asia passes through Anchorage.  No wonder Anchorage is called “the Crossroads to the World”!

Military:  Elmendorf Air Force Base and Fort Richardson are located just north of Anchorage, and the military provides over 10,000 jobs to the Anchorage area.

Oil and Gas:  As in other areas of Alaska, the oil and gas industry is a major part of the Anchorage economy.  The latest project, Denali – The Alaska Gas Pipeline, a joint project between BP and ConocoPhillips, will be headquartered in Anchorage, and will bring job and business opportunities to the area.

Tourism/Conventions:  According to the Anchorage Economic Development Corporation, tourism is Alaska's second largest private-sector employer, accounting for one in eight private-sector jobs, and is also Alaska’s fastest growing industry.  About one million people visit Anchorage every year, both for pleasure and business.  With the building of a new civic and convention center, Anchorage will be poised to host the expanding market of national and international conventions.