50 in 50: Alaska

50 in 50: Alaska

50 states in 50 weeks: U.S. states economic and infrastructure highlights.

Key Economic Indicators

GDP: $50.2 billion
GDP 5-year growth rate (2017-2021): -1.9% (U.S: 1.6%)
GDP per capita: $68,462 (U.S.: $58,154)
Population: 733K
Population 5-year growth rate (2017-2021): -0.3% (U.S.: 0.5%)
Unemployment: 5.7% (U.S.: 3.9%)
Economic health ranking: #34 out of 50
Fiscal health ranking: #1 out of 50
Overall tax climate ranking: #3 out of 50

Key Sectors and Metro Areas

Top five industry sectors by 2021 GDP:

Top three industry sectors by GDP 5-year CAGR (2017-2021):

Top three metro areas by GDP:

• Anchorage
• Fairbanks
• Juneau

Top three areas by population 5-year CAGR (2016-2020):

• Ketchikan
• Anchorage
• Juneau

Infrastructure Highlights

Infrastructure: ASCE Infrastructure Grade (2020): C

Over the next five years, Alaska will receive over $5 billion from the Infrastructure Investment and Jobs Act (IIJA), which are likely going to help speed up the state’s relatively slow economic recovery. The Alaska Department of Labor is investing in programs to encourage careers in construction while state and local governments work to prioritize projects for the deployment of funds. The IIJA will make the following funds available over the next five years::

Construction spending (Value of Construction Put in Place – CPiP):

• Private Nonresidential CPiP: $272 million; 5.0% 5-year growth rate (2016-2020), above overall U.S. growth rate of 2%
• State & Local CPiP: $1.2 billion in 2020; -17.6% 5-year growth rate (2016-2020), below overall U.S. growth rate of 4.8%

AE Industry

ENR 500 firm headquarters (2021): 1

M&A activity since 2018:

• 5 deals with AK buyers
• 5 deals with AK sellers

Note: GDP calculations were revised to reflect Real (vs. nominal) GDP to adjust for inflation.

For customized market research, contact Rafael Barbosa at [email protected] or 972.266.4955. Connect with him on LinkedIn.