Anchorage Economic Development Corp

AEDC'S VISION AND THE BASIS OF OUR LIVE WORK PLAY (LWP) INITIATIVE IS TO MAKE ANCHORAGE THE #1 CITY IN AMERICA BY 2030 THROUGH THIS PROCESS, WE WILL IMPROVE OUR COMMUNITY AND MAKE ANCHORAGE A MORE COMPETITIVE CITY THAT ATTRACTS AND RETAINS A TALENTED WORKFORCE, A CRITICAL NEED IF WE ARE TO DRAW NEW BUSINESS INVESTMENT TO ANCHORAGE IN THE COMING YEARS. THIS VISION IS SUPPORTED BY OUR MORE THAN 250 INVESTOR COMPANIES, AS WELL AS THE MORE THAN 200 VOLUNTEERS AND 158 PARTNER ORGANIZATIONS COLLABORATING THROUGH LWP TO MAKE OUR CITY THE BEST IT CAN BE.

2021 EFFORTS WERE FOCUSED ON ECONOMIC RECOVERY AND ASSESSMENT OF DAMAGE TO THE ECONOMY CAUSED BY THE 2015-2019 RECESSION AND 2020 COVID-19 DISASTER. ACTIONS TAKEN INCLUDED APPLICATIONS FOR GRANTS TO PERFORM ASSESSMENTS OF ANCHORAGE INDUSTRY AND WORKFORCE CLUSTERS, EVALUATE ANCHORAGE'S ATTRACTIVENESS TO POTENTIAL VISITORS, WORKERS SEEKING WORK, AND INVESTORS SEEKING OPPORTUNITIES FOR INVESTMENT. BOTH APPLICATIONS WERE SUCCESSFUL BY YEAR-END WITH PROJECTS FUNDED BY THE GRANTS SET TO BEGIN IN JANUARY 2022. ASSISTANCE WAS PROVIDED TO A NUMBER OF BUSINESSES IN THE FORM OF ADVICE AND SUPPORT IN SEEKING NEEDED FUNDING RESOURCES, APPLICATIONS FOR COVID RELIEF FUNDS, POLICY ISSUE CHALLENGES WITH LOCAL, STATE, AND FEDERAL GOVERNMENT, AND ASSISTANCE THROUGH ADVICE RELATED TO SAFELY REOPENING BOTH IN THE SPRING AS THE INITIAL STRAINS OF COVID FADED, AND IN THE SUMMER AND FALL AS THE DELTA AND OMICRON VARIANTS IMPACTED THE BUSINESS COMMUNITY.ADDITIONALLY, AEDC WAS ENGAGED BY ANCHORAGE INTERNATIONAL AIRPORT TO RESEARCH WHAT HAS NOW BEEN IDENTIFIED AS THE ALASKA PASS MULTI-MODAL LOGISTICS MODEL. THE RESEARCH PROJECT ASSESSED THE VIABILITY OF FLYING CARGO TO ANCHORAGE FROM MULTIPLE ASIAN MANUFACTURING CENTERS, TRANSLOADING THAT CARGO INTO SHIPPING CONTAINERS AND THEN SHIPPING THOSE CONTAINERS THROUGH THE PORT OF ALASKA TO THE PORT OF TACOMA WHERE THE PRODUCT WOULD BE OFFLOADED AND FORWARDED VIA TRUCK OR RAIL TO ITS FINAL DESTINATION. BY THE END OF 2021 THE RESEARCH DEMONSTRATED THE POTENTIAL VIABILITY OF THE ALASKA PASS MODEL WITH AN ESTIMATED DELIVERY TIME FRAME OF 20 DAYS OR LESS AND AT A COST OF 30% TO 35% LESS THAN SHIPPING PURELY BY AIR CARGO. EFFORTS WILL CONTINUE IN 2022 TO FURTHER ADVANCE THE PROJECT TO INCLUDE TEST SHIPMENTS AND FURTHER RESEARCH AS NEEDED. MARKETING WILL FOLLOW COMPLETION PROOF OF CONCEPT RESEARCH AND TEST SHIPMENTS.

EVERY YEAR, ANCHORAGE DOWNTOWN PARTNERSHIP (ADP) TEAMS UP WITH AMERICAN EXPRESS AND THE DOWNTOWN BUSINESS COMMUNITY TO CREATE AN IMPACTFUL DAY FOR SMALL BUSINESS SATURDAY. IN 2021, AEDC PARTNERED WITH ADP AND AMPLIFIED THE BUY LOCAL AND SHOP SMALL CAMPAIGN, EXPANDING ITS REACH TO COVER LOCAL BUSINESSES ACROSS ANCHORAGE AND INCREASING ITS LENGTH THROUGH THE HOLIDAY SHOPPING SEASON. PARTICIPATING BUSINESSES OFFERED DEALS OR SPECIALS FOR SMALL BUSINESS SATURDAY, RECEIVING PLACEMENT ON THE BUY LOCAL/SHOP SMALL MAP.ACCORDING TO NATIONAL DATA, BETWEEN 40 AND 68 CENTS PER DOLLAR CIRCULATE IN THE LOCAL ECONOMY IF SPENT LOCALLY. BY EXTENDING THE INVITATION TO PARTICIPATION IN BUY LOCAL/SHOP SMALL TO AEDC INVESTORS AND ANCHORAGE-BASED COMPANIES IN MIDTOWN, SOUTH ANCHORAGE AND OTHER PARTS OF THE CITY, WE INCREASED BUSINESS PARTICIPATION BY NEARLY 40%. BUSINESS SURVEY RESPONSES FOLLOWING THE CAMPAIGN'S END SHOWED THAT 91 PERCENT OF RESPONDENTS SAW AN INCREASE IN SALES ON SMALL BUSINESS SATURDAY, 90 PERCENT SAID THEY WOULD PARTICIPATE AGAIN, AND 80% SAID THEY WOULD BE INTERESTED IN PARTICIPATING IN A FUTURE EVENT.

STRATEGIC INITIATIVES AEDC'S STRATEGIC EFFORTS INITIALLY RESUMED IN 2021 WITH A RETURN OF FOCUS ON THE 3-PRONG STRATEGY OF REVITALIZING ANCHORAGE'S DOWNTOWN, REINVENTION OF THE UMED DISTRICT, AND A COMPREHENSIVE STRATEGY FOR INVESTMENT IN THE CHESTER CREEK GREENBELT AS PART OF THE LIVE, WORK, PLAY INITIATIVE. THOSE EFFORTS WERE PUT ON HOLD WITH THE EMERGENCE OF THE COVID VARIANTS AS THE YEAR PROGRESSED. FUTURE STRATEGIC EFFORTS, WHEN RESUMED, WILL LIKELY FOCUS ON WORKFORCE AND INVESTMENT ATTRACTION AND SUPPORT AS PART OF A DEVELOPING RECOVERY STRATEGY TO REGAIN THE 6,000 JOBS LOST IN THE 2015-2019 RECESSION THAT PRECEDED THE 12,300 JOBS LOST IN 2020 DUE TO THE COVID-19 PANDEMIC.

EVENTSECONOMIC FORECAST: THE 2021 ECONOMIC FORECAST LUNCHEON IN JANUARY LOOKS INTO THE YEAR AHEAD BASED ON EMPLOYMENT, POPULATION, AND DEMOGRAPHIC DATA; PROVIDES A SNAPSHOT LOOK AT THE LABOR FORCE; AND OFFERS AN UPDATE ON CONSUMER AND BUSINESS CONFIDENCE. EVENT WAS HELD VIRTUALLY IN RESPONSE TO THE COVID-19 PANDEMIC AND WAS ZOOMCAST AND BROADCASTED BY ALASKA PUBLIC MEDIA.-KEYNOTE PRESENTATION: SENATOR LISA MURKOWSKI AND GOVERNOR MIKE DUNLEAVY-ATTENDEES: 1221 -SPONSORS: 37 3-YEAR OUTLOOK: THE 3-YEAR OUTLOOK LUNCHEON DISCUSSES THE PROJECTED TRAJECTORY OF THE LOCAL ECONOMY BASED ON A REVIEW OF HISTORICAL AND CURRENT DATA, INTERVIEWS WITH REPRESENTATIVES OF BUSINESSES AND ORGANIZATIONS, AND ANALYSIS OF CURRENT EVENTS. THE OUTLOOK CONSIDERS TRENDS IN EIGHT KEY INDICATORS INCLUDING POPULATION, EMPLOYMENT, PERSONAL INCOME, AIR PASSENGER AND FREIGHT VOLUMES, BUILDING PERMITS, PORT OF ALASKA TONNAGE, VISITOR INDUSTRY ACTIVITY AND OIL PRICES. EVENT WAS HELD VIRTUALLY IN RESPONSE TO THE COVID-19 PANDEMIC AND WAS ZOOMCAST AND BROADCASTED BY ALASKA PUBLIC MEDIA.-KEYNOTE PRESENTATION: ANSWERING WHY: UNLEASHING PASSION, PURPOSE, AND PERFORMANCE IN THE YOUNGER GENERATION. MARK C. PERNA, FOUNDER & CEO OF TFS RESULTS -ATTENDEES: 1,100 (EST.)-SPONSORS: 33