1st Quarter 2010

1st Quarter, 2010
AEDCconnections
The Newsletter Of
Anchorage Economic
Development
Corporation
WHAT’S INSIDE
page 1
Build It And They
Will Come
Diamond Investor Spotlight
Build It And They
Will Come.
page 2
Letter From The President
page 3
Local Business Positive
About 2010 Outlook
page 4
“Flat Is Good” May Become
The “Old Black”
page 5
AEDC Elects Officers For
2010 Board Of Directors
page 6
Local “Forces” Join To
Deliver Star Wars Exhibit
Launched in 2000 with only a website and email campaign, the Anchorage
International Film Festival (AIFF) celebrates its 10th Anniversary this year.
AEDC investor company, Walsh Sheppard, a marketing communications firm, is the
Founding Sponsor of the Festival, and partner Tony Sheppard, is the Founder of the event.
Each December, Anchorage
welcomes dozens of international
filmmakers and industry guests,
and passionate film festival
lovers that visit from out of state.
Filmmakers have come from as
far away as Beijing and Sydney.
One year, a delegation of 15
filmmakers from Cameroon
visited the Festival.
Past attendees include independent producers and directors,
executives from studios such
as Paramount Pictures, and
Dreamworks, the Director of
the LA Film Festival, and the
Program Director for the Seattle
International Film Festival.
Several Alaska film projects have
been inspired and produced by
some of the attending guests.
Venues: Bear Tooth Theatrepub • Alaska Experience Theatre • Anchorage Museum • Out North
Presenting Sponsors: KTUU • GCI • 101.3 KGOT • APTI Primary Sponsors: KYES • Anchorage Press • The Alaska
Experience Theatre • Inlet Tower • KFAT 92.9 Supporting Sponsors: AVIS Alaska • G Street B&B • Oscar Gill House • Hotel Captain Cook • Out
The Festival has become well known for its exotic location and outstanding
hospitality, venues, and program presentation. Over the years five AIFF Official
Selections have gone on to become Oscar winners.
North • KLEF 98.1 Hospitality And Event Supporters: Midnight Sun Brewing Company • Specialty Imports • Copper Whale Inn • The Magic Bus •
ALL screenings are $7 • ‘09 ALL FILMS passes are available for $75 at Bear Tooth Theatrepub box office • Check website for listings • Opening Night
Film And Gala starts at 7:00pm, Friday, December 4 at the Bear Tooth • Gay-La starts at 8:00pm, Wednesday, December 9 at the
Bear Tooth • After Party at Mad Myrna’s • Martini Matinee starts at 2:30, Friday, December 11 at the
Bear Tooth • Golden Oosikar Awards Ceremony starts at 8:00, Sunday, December 13 at the Bear
Tooth • Best of the Fest December 14-17 • Check the festival website for schedules and show times.
The AIFF has also garnered worldwide media attention over the years. Dozens
of travel articles and numerous film industry writings, from the likes of Premiere
magazine have been published, and the Sundance Channel and the mega European
network Canal+ have presented the AIFF in their programming.
Beyond the entertainment opportunities, there is a payoff from the Festival that
transcends the fun and excitement, glitzy parties and workshops. The Festival boosts
Continued on page 8...
1
AEDC
ECONOMIC SNAPSHOT
Quarterly Employment,
3rd Quarter
Letter From
The President
152,800
155,300
154,200
2007
2008
2009
According to Alaska Department of
Labor and Workforce Development data,
employment in Anchorage declined to
154,200 jobs during the third quarter
of 2009, 1,100 jobs (0.7 percent) below
the third quarter of 2008, and 1,400 jobs
above the third quarter of 2007.
“A long time ago in a galaxy far, far away…”
It has a uniquely satisfying sound doesn’t it?
Although we are not able to use that phrase to
describe the economic downturn that crippled
the nation and most of the world, there is light at
the end of the tunnel. As the rest of the nation slowly inches back towards prosperity,
Anchorage will eventually flatten its economic decline by mid-year and work towards
modest economic growth.
Now is the time to look towards the future and take advantage of the opportunities
presented by the relatively soft decline Anchorage has experienced and position
ourselves for growth at the end of 2010.
In this newsletter you will read about Star Wars: Where Science Meets Imagination,
the new exhibit at the Anchorage Museum and may wonder what it has to do with
economic development. For a start, it is not only expected to bring in over 50,000
attendees, but many local businesses were integral in making it happen and many will
see a direct economic impact as the exhibit runs. And as the fiction of Star Wars
has inspired much of the technology we see today, it will take the imagination of
us all to envision the economic future of Anchorage.
Just as Star Wars gave many young minds a starting point for scientific curiosity and
the drive to explore new ideas, you will read about the AEDC Business Confidence
Index and 2010 Economic Forecast. Although, they don’t paint a rosy picture, they
are a snapshot of the coming year and will help us all plan for the future.
You will also learn about a film festival that started out as a small idea with just
a website and e-mail campaign that has grown into one of Anchorage’s premier
events. With a fertile place to grow; anything is possible.
Along with many small ideas, new technologies and the recently announced expansion
of high speed broadband in rural Alaska, Anchorage’s economy is well position to start
seeing modest growth by the end of 2010 and the benefits realized will be by those
organizations that look at the future today...not light years from now.
Bill Popp
President and CEO, AEDC
Anchorage Unemployment Rate
(percent), 3rd Quarter
6.6
5.0
5.3
2007
2008
2009
The Anchorage unemployment rate for the
third quarter of 2009 was 6.6 percent, 1.3
percentage points higher than in the third
quarter of 2008, and 1.6 percentage points
higher than during the same time period in
2007.
TSAIA Cargo Transit
(thousand pounds), 3rd Quarter
1,164,344
887,771
725,887
2007
2008
2009
In the third quarter of 2009, 726 million
pounds of cargo moved through Anchorage
International Airport, an 18 percent decline
from the third quarter of 2008, and 38 percent below the third quarter of 2007.
Commercial Building Permit Values
(million), 3rd Quarter
$110.0
$42.5
$28.4
2007
2008
2009
Commercial building permit values totaled
$28.4 million for the third quarter of 2009,
a decrease of 74 percent from the third
quarter of 2008, and 33 percent below the
same period in 2007.
Tax Revenue from Lodging Room Rentals
(million), 3rd Quarter
$9.5
$8.8
$7.4
Did you know?...If every Anchorage household
with an income of $50,000 or more spends $50 a
month locally rather than online or out-of-state for
three months $10,000,000 will be injected into the
Anchorage economy.
2007
2008
2009
The Municipality of Anchorage collected
$7.4 million in room tax in the third quarter of 2009, 22 percent less than in the
third quarter of 2008, and 16 percent less
than in the same time period in 2007.
Economic data compiled by
2
Local Business Positive About
2010 Outlook
AEDC once again released its annual barometer
of local business sentiment. The second annual
AEDC Business Confidence Index sponsored by
Premera Blue Cross Blue Shield of Alaska was
presented to the public at the 2010 Annual Forecast
Luncheon along with the 2010 Economic Forecast.
For the second year in a row, the index showed that
respondents had a positive outlook about the coming
year even in the face of the recent economic downturn.
This leads Bill Popp, President & CEO, AEDC to
believe that businesses feel things are starting to level
out. According to Popp, “although they have some
concern about the overall economy, individuals are
already looking forward.”
The Business Confidence Index for 2010 is 53.6,
indicating that the business community has a
slightly positive outlook for 2010. (An index
between 51 and 100 indicates a positive outlook,
while an index below 50 shows a negative outlook.)
Businesses expressed somewhat more confidence in the
upcoming year than they did at this time last year. In
2009, the AEDC Business Confidence Index was 51.8.
Some key findings include:
• In terms of gross sales (or operating budgets),
a majority of businesses (60 percent) expect an
increase in 2010, with 28 percent expecting a
moderate or large increase.
• With respect to net profits, a majority of respondents
(58 percent) expect an increase in 2010. The outlook
for 2010 is more positive than was the outlook for
2009 where a minority of respondents (48 percent)
expected an increase in net profits.
• One-third of businesses (33 percent) anticipate
hiring more workers in 2010, while nearly half of
respondents (49 percent) anticipate no change in
employment. Of the 17 percent that expect job
cuts, most anticipated small decreases.
Health insurance at 58 percent and federal
regulations at 50 percent were rated the most
significant barriers to growth for local business with
municipal taxes and regulations being the lowest
ranked barriers at 28 percent and 25 percent
respectively.
Thirty-six percent of the respondents think the
Alaska gasline is the most important project for the
future of the Anchorage economy, while 20 percent
feel a pipeline from the North Slope to Southcentral
Alaska is the most important, followed by 15 percent
citing resource development in the Cook Inlet as
most important.
More than 200 businesses completed the survey,
representing a broad cross section of the Anchorage
business community in terms of size and business
sector. The complete AEDC Business Confidence
Index can be found at www.AEDCweb.com.
AEDC Business
Confidence Index Survey
Prepared for:
Anchorage Economic
Development Corporation
AEDC 2010 Business Confidence Index
44.9
46.7
49.3
51.9
53.8
53.0
54.6
58.0
56.4
58.5
51.8
53.6
Anchorage Economy
Capital Expenditures
Employment
Net Profits
Gross Sales
Composite Index
0
26
50
Large
No
Decrease
2009
2010
January 2010
76
100
Sponsored by:
Large
Increase
3
AEDC
“Flat is Good” May Become
The “Old Black”
AEDC presented the 2010 Economic Forecast,
sponsored by AT&T Alaska, to a record crowd at its
2010 Annual Forecast Luncheon on January 27 at
the Dena’ina Civic & Convention Center. Although
AEDC predicts slight decreases overall for 2010,
modest growth looks to be on the horizon for the last
half of 2010. This projected decline plateau as well as
a small turn around has AEDC President & CEO Bill
Popp predicting, “slight economic growth is the new
black.” He goes on to say, “It shouldn’t be long before
flat is yesterday’s good.”
AEDC forecasts modest employment loss in
Anchorage for 2010 with 1,200 job losses mostly in
the transportation (-200), wholesale and retail (-300),
construction (- 400) and leisure and hospitality (-300)
sectors. Oil and gas, business and professional services,
and government sectors are projected to stay the
same. The one sector with predicted growth is the
health care industry with 200 new jobs.
In addition to the airport, the loss of cruise ship
passengers will directly affect the lodging sector
which, in turn, will bring down the overall leisure and
hospitality number. It should be noted, however, that it
is likely that a significant share of the decline will be in
seasonal jobs held by non-Alaskans.
Overall, AEDC forecasts employment decline
throughout the first half of 2010, continuing the
downward trend that began in the middle of 2009.
Anchorage should see a return to modest growth in the
second half of the year as national and global economies
rebound. As the economy of the south central region
gradually flattens out we should look to modest growth
as the new standard to judge our economy rather than
the “flat is good” standard of the last year and a half.
AEDC 2010 Economic Forecast
The business and professional and government
sectors should remain the same and, along with the
construction industry, be somewhat insulated from
a downward swing by federal ARRA projects finally
hitting the streets in 2010.
The projected loss in transportation can be
attributed to two main factors affecting Ted Stevens
Anchorage International Airport: softer demand for
air cargo due to the world wide economic slowdown
and a potential loss of 120,000 cruise ship passengers
to the south central region.
Thank You To Our Generous Sponsors Of The 2010
Economic Forecast Luncheon
2010 Speaker Sponsor:
2010 Economic Forecast Sponsor:
2010 Business Confidence Index:
Primary Sponsors:
Additional Sponsors:
ACS
Alaska Regional Council of
Carpenters
Alaska USA Federal Credit
Union
Aleut Corporation
BiNW
Eklutna, Inc.
Special Thanks to:
Hotel Captain Cook
Orso Ristorante
4
ENSTAR
First National Bank Alaska
KeyBank
Lynden International
TOTE
USKH, Inc.
Shell
Dimond H.S. AP Language
& Composition Students
AEDC
DIAMOND INVESTORS
AEDC Elects Officers For
2010 Board Of Directors
Lon Wilson Of The Wilson Agency Elected As Chair
The board of directors of
the Anchorage Economic
Development Corporation
elected officers at the
group’s 2009 annual
meeting in November,
selecting Lon Wilson
to chair the executive
committee and lead the
organization in 2010. The
board also elected Chris
Brown of AT&T Alaska
as vice chairman and Greg
Pearce of GCI Communications to the
position of secretary/treasurer.
Wilson is the president of The Wilson
Agency and is a current member of
the National Association of Health
Underwriters (NAHU) as well as past
president of the Alaska Association of
Health Underwriters. He also is actively
involved in civic organizations including
the Children’s Hospital at Providence
Advisory Council,
Commonwealth North
Healthcare Coalition, and
the Anchorage Downtown
Rotary.
The immediate past
chairman, Dennis
Mitchell, and the vice
chairman, Chris Brown,
will serve as co-chairmen
of the Investor Relations
committee and have
already started to actively solicit new
investors as well as encourage more direct
interaction between board members and the
AEDC staff.
The 52-member AEDC Board of Directors
is responsible for establishing overall policy
for the organization, providing oversight
for all agency programs, and establishing
fiscal parameters for agency and marketing
functions.
Alaska Ranks 7th In
Forbes.com Article
“Best States For Women’s Earnings”
Alaska ranked seventh in the December
2009 Forbes.com article, “Top-Earning
States For Women,” with a weekly median
income of $719. Washington D.C. topped
the list with area women earning $866 a
week. Both scored well above the national
median of $638.
On the bottom of the list was Mississippi,
where women’s median income was only
$510 per week.
5
AEDC
2010 Board of Directors
Voting Members
Anand Vadapalli
Chief Operating Officer, ACS
Bill O’Leary
Vice President of Finance & CFO,
Alaska Railroad
Bob Lacher
VP Business Development Energy
& Chemicals,
CH2M HILL
Brian Wenzel
VP, Finance,
ConocoPhillips
Bruce Bustamante
Vice President of Community and
Public Affairs, Princess Tours
Bruce Lamoureux
Chief Operating Officer,
Providence Alaska Medical Center
Chris Brown, Vice-Chair
Chief Operating Officer,
AT&T Alaska
Chris Stephens
Associate Broker,
Bond, Stephens & Johnson, Inc.
Claire Fitzpatrick
Vice President & CFO,
BP Exploration Alaska
Connie Carter
Managing Director for
Alaska Operations, FedEx Express
Dale Pittman
Alaska Production Manager,
ExxonMobil Corporation
David Hamilton
Sr. VP Business & Commercial Lending,
AK USA Federal Credit Union
Dennis Mitchell, Chair
Vice President - Alaska,
Lynden International
Ed Herndon
CEO, Chugach Alaska Corporation
Greg Kessler
Director of the Alaska Commercial Group,
Totem Ocean Trailer Express
Greg Pearce, Secretary/Treasurer
VP & GM,
Commercial Services, GCI
Jeffrey Davis
President, Premera Blue Cross
Blue Shield of Alaska
Joseph Everhart
Sr. VP of Alaska Commercial Banking,
Wells Fargo Bank N.A.
Lon Wilson, Chair
President,
The Wilson Agency, LLC
Mark Liland
Director of Sales, Northern Air Cargo
Marla Wellington
Manager of Sales, WA, ID, OR & AK,
Continental Airlines
Michael Prozeralik
President, kpb architects
Mike Devlin
Founder, Evergreen Films, Inc.
Pat Walsh
President & CEO,
Walsh Sheppard
Peter Grunwaldt
President, Premier Alaska Tours
Scott Hanson
Business Manager,
Carpenters Local 1281
Sophie Minich
Chief Operating Officer, CIRI
Stephanie Holthaus
President, Alta Air Logistics
Stewart Osgood
President, DOWL HKM
Suzanne Cherot
Shareholder & Attorney,
Birch, Horton, Bittner & Cherot
6
Timothy Vig
President, USKH
Local “Forces” Join To
Deliver Star Wars Exhibit
The Star Wars:
Where Science
Meets Imagination
exhibit opened at the
Anchorage Museum
on February 10 and
is as exciting and
impressive as many
knew it would be.
What many may not
know is the incredible
amount of effort that
went into bringing the
event to Anchorage as
well as the continued
effort to maintain it
during its six-week
run. Even greater, is
the economic impact
the exhibit has on
Anchorage.
In “Episode III,” Darth Vader’s limbs are severed and he’s severely burned by lava. To
save him, medical droids encase him in a black armored suit, mask and respirator.
Alongside Darth Vader memorabilia, the exhibition displays several real-world medical
breakthroughs, including a living skin substitute and a prosthetic knee that includes
a hydraulic piston, microprocessor and rechargeable lithium battery. ©Lucasfilm Ltd.
Source credit to Anchorage Museum of History and Art.
The exhibit, which is spread across three floors of the museum, is the largest to date and
received help from many local entities including TOTE, who donated their services.
“Having a long and extensive relationship with the Anchorage Museum, TOTE was very
excited about having the opportunity to be a partner in bringing the Star Wars exhibit to
Anchorage,” says Cindy Curtis, TOTE Community Relations Coordinator. “Not only is
it one of the largest exhibits the Museum has ever displayed—requiring eleven 53-foot
containers for shipping— but a large portion is devoted to the science of robotics and
creative hands-on learning activities for children and adults. It’s rewarding for us to
have a part in an exhibit that generates so much excitement in the community.”
Also doing their part to help make fantasy a reality, AT&T Alaska, BP Exploration
(Alaska) Inc., and ConocoPhillips partnered with the museum as corporate sponsors
of the exhibit.
“ConocoPhillips has historically been an avid supporter of both the Anchorage
Museum and the Imaginarium,” says Natalie M. Lowman, Director of
Communications, ConocoPhillips Alaska. “Our sponsorship of the Star Wars exhibit
is consistent with our goal of funding history and art through the Museum, and also
supporting science education for youth through the Imaginarium.”
In addition to its transportation partner and sponsors, the Anchorage Museum has
worked closely with many local businesses including printers for collateral and signage,
independent graphic designers such as GRA.F/X Design, and multiple hotels who
hosted the Museum of Science, Boston staff in Anchorage for several weeks during the
installation of the exhibit.
During the day-to-day functions of Star Wars: Where Science Meets Imagination,
one local business takes up a corner of the third floor exhibit area and is so involved
EX-OFFICIO MEMBERS
Appointed by the Board
that visitors may not realize they
are not part of the exhibit. Bosco’s
Comics plays the part of the Star Wars
merchandise store at the museum.
Brian Nerland
District President,
KeyBank Alaska
Carol Comeau
Superintendent,
Anchorage School District
Selling everything from authentic
light sabers to Yoda costumes for
dogs, Bosco’s retail shop is an integral
part of the Star Wars experience and
In “Star Wars: Where Science Meets Imagination,”
was an easy fit for the Anchorage
one of the major themes is the future of transportation, particularly hovering vehicles. The many
Museum. When Bosco’s owner,
vehicles on display include the podracer owned
John Weddleton, heard about Star
by Sebulba, the major rival of the young Anakin
Wars coming to the museum, he
Skywalker in a tense “Episode I” podrace scene.
©
immediately contacted Anchorage
Lucasfilm Ltd. Source credit to Anchorage
Museum of History and Art.
Museum Director & CEO James
Pepper Henry about cross-promotional
opportunities. After some thought, both men realized that a retail partnership would
benefit both organizations. By running the retail side, Bosco’s would have access to
a market that is keenly interested in their products while the museum would get
a partner who intimately understands the Star Wars fan base as well as a business that
would be able to rotate any remaining items into their stock at the end of the exhibit,
thus relieving the Museum of the liability of overstocked merchandise.
Star Wars: Where Science Meets Imagination not only provides an economic
benefit to Anchorage, but an educational one as well. The traveling exhibition uses
the familiar imagery of the six Star Wars films to teach visitors about real-world
scientific progress.
Displays focus on four main themes: transportation, robots, medicine, and the
environment. Visitors can see more than 80 authentic costumes, models, and
props from the Star Wars films, including Luke Skywalker’s landspeeder and
Darth Vader’s menacing black suit. These objects are displayed alongside modern
technologies that may one day make the universe of Star Wars a reality. Emerging
technology on display includes a mechanical heart and a personal assistant robot
designed for NASA astronauts.
With 7,000 school children already signed up to see the exhibit, it is definitely
accomplishing the goal of matching imagination, sci-fi, and education.
“Star Wars is a great way to get kids excited about engineering, math, and science,”
says AEDC President & CEO Bill Popp. “Obviously, I have a reason to be happy
about this; we are creating Alaska’s technological workforce of tomorrow
through a little imagination today.”
Star Wars: Where Science Meets Imagination runs through
April 25, 2010. Tickets are on sale now at www.
anchoragemuseum.org or can be purchased at
the door. Star Wars memorabilia is available
at Bosco’s at the museum during the
event, or find Bosco’s store location at
www.boscos.com.
Chris Anderson
Deputy Director – Credit & Business
Development, AIDEA
Elisha Baker
Dean, College of Business and
Public Policy, UAA
John Parrot
Airport Manager,
Ted Stevens Anchorage
International Airport
George Vakalis
Board Member, AWWU
Julie Saupe
President & CEO,
Anchorage Convention & Visitor’s
Bureau
Larry Cash
President, RIM Architects
Mary K. Hughes
Past Chairman of the Board,
AEDC Board
Tennys Owens
President, Artique, Ltd.
Tony Izzo
Chair, Anchorage Chamber
of Commerce,
Tmi Consulting
LEGISLATORS
Craig Johnson
Representative,
Alaska State Legislature
Lindsey Holmes
Representative,
Alaska State Legislature
Johnny Ellis
Senator,
Alaska State Legislature
Lesil McGuire
Senator,
Alaska State Legislature
MUNICIPALITY
Mayor Dan Sullivan
Municipality of Anchorage
Bill Starr
Assembly Member,
Municipality of Anchorage
Dan Coffey
Assembly Member,
Municipality of Anchorage
In “Star Wars: Where Science Meets Imagination,”
displays about C-3PO and R2-D2 help visitors
understand how androids navigate, sense,
and understand the world around them while
communicating in increasingly sophisticated
ways. ©Lucasfilm Ltd. Source credit to
Anchorage Museum of History and Art.
7
INVESTORS
PRSRT STD
US Postage
PAID
WELCOME
Anchorage, AK
Permit #882
To our
new investor:
Charlene’s Express Travel
510 L Street, Suite 603
Anchorage, AK 99501
(907) 258-3700
www.AEDCweb.com
THANK YOU
TO OUR
Renewing investors:
AK Supply, Inc.
Alaska National Insurance Company
...continued from page 1, Build It And They Will Come
Alaska Sales and Service
the winter economy. It gets locals and guests
out spending money and attracts the film
industry. And isn’t that something our state
has been working to do?
Anchorage Daily News
Anchorage Sand and Gravel Co., Inc.
Beacon OHSS, Inc.
Chugiak-Eagle River
Chamber of Commerce
Coffman Engineers, Inc.
The future holds many possibilities, from
developing a market atmosphere for Pacific
Rim and Northern Hemisphere film producers
and distributors to creating a local media arts
center and producing more yearly events and
community outreach
programs for students.
This December, wake
up, smell the popcorn,
and support the Festival
as a sponsor of one of
the events, or by attending one of the many
screenings or events during this season’s 10-year
anniversary. AIFF - films worth freezing for!
Davis Constructors & Engineers, Inc.
AEDC STAFF
DOWL HKM
Bill Popp
President & CEO
Dowland-Bach Corporation
Evergreen Films, Inc.
Erin Ealum
Business & Economic
Development Director
First National Bank of Alaska
Holmes Weddle & Barcott
Ken Brady Construction Company
Northrim Bank
Penco AK
RIM Architects, Inc.
Schwantes, Inc.
Ted Stevens Anchorage Int’l Airport
The Wilson Agency, LLC
UAA – CBPP
USKH
Weatherholt & Associates, L.L.C.
Wells Fargo Bank Alaska
8
Anchorage First is a citywide campaign
to encourage consumers to spend
locally during March, April, and May.
This will not only help the Anchorage
economy, but will also give consumers
a feeling of control and the ability
to improve the economic situation
through spending locally, in this time
when many feel they cannot control
what is happening in our economy.
In addition, it helps to show business
owners and their employees that they
have support in the community and
that we will all step up to support
Anchorage and each other.
How can you be involved in
Anchorage First?
1. Say Yes! to participating as a
business or consumer.
2. Print and display the Anchorage
First logo in your business.
3. Talk to other businesses or
your favorite local store about
participating.
4. If you have a business, offer a
promotion in the months of
March, April, and May that ties
into the campaign.
5. Get out and spend locally yourself.
Contact AEDC today for more
information, to get logo files,
and to be involved:
Ryan Makinster
Communications Director
907.334.1204
[email protected] or
www.GoAnchorageFirst.com
Ryan Makinster
Communications
Director
Amy Goodwin
Business & Economic
Development Assistant
Director
Allison M. M. Van Eck
Office Manager
Dana Krawchuk
Executive Assistant
AEDC is a private nonprofit
corporation (IRS code 501(c)(6)),
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. Funding
sources for the corporation are
municipal and state grants, contracts, and private contributions.
For permission to reproduce any
part of this newsletter, please call
(907) 258-3700.