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Alaska Remains A Tax Haven
Alaska is pretty close to a taxpayer's paradise--with no state sales tax, no personal income tax, and not a lot of other taxes either--unless of course you are an oil and gas producer.
The petroleum industry is a heavy lifter, in Alaska, paying about 80 percent of the costs of running state government. Last year oil producers paid $2.05 billion in state taxes and royalties. All other taxpayers paid $186 million.
Business taxes are quite modest as well. Corporations pay a state corporate income tax that links to the federal income tax and its deductions. There are municipal property taxes in Anchorage and most other Alaskan cities, but Anchorage has no sales or use tax.
--Tim Bradner, CEO Media Anchorage Report, May 2005
Relocating to Alaska?
You might want to check out the Alaska Dept. of Labor's webpage on Alaska information. There's a "Relocating to Alaska" section for information on communities, cost of living and jobs.
Alaska's Top 10 Employers
Company/Number of Employees
Providence Health Systems, 3,518
Safeway/Carrs, 3,107
Wal-Mart, 2,725
Fred Meyer, 2,597
Alaska Airlines, 1,638
Trident Seafoods, 1,612
Yukon-Kuskokwim Health Corporation, 1,346
BP Exploration Alaska, 1,337
Banner Health Systems, 1,287
GCI Communications, 1,225
--Alaska Dept. of Labor & Workforce Development
Alaskans touted as savers, investors
Alaskans rank 16th-best among the 50 states in amassing personal savings and engaging in smart investing, according to a ranking by A.G. Edwards, a national stock brokerage. Residents of Anchorage--the only city in Alaska ranked--scored 62nd-best of 200 cities assessed, A.G. Edwards said.
The company ranked residents on 12 factors, including proportion with savings accounts, IRAs and 401(k) accounts, pension plans, other financial investments, home ownership, debt level and household income.
New Jersey ranked tops among states and Mississippi last. San Jose, Calif. ranked tops among cities, with Jamestown, N.Y., pulling up last.
--Anchorage Daily News, Dec. 27, 2005
Anchorage Population & Economy
Population
- 2004 was Anchorage's 16th straight year of steady population growth
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Anchorage's 278,000 residents comprise 42% of Alaska's population
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Anchorage has a young, diverse, well-educated population. Less than 6% of the population is over the age of 65, compared to the national average of more than 12%
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The Anchorage Metro area is projected to have 530,000 residents by 2030
Economy
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In 2004 Anchorage added 2,000 new jobs for the 16th straight year of steady employment growth
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2004 was especially strong for the tourism, health care and construction sectors of the economy
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75 of the state's 100 largest businesses are headquartered in Anchorage
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Unemployment has been below 6% since 1993
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Anchorage is projected to add 40,000 jobs by 2030.
Other Economic Indicators
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Alaska's Permanent Fund reached a record high of $30 billion in early 2005
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A major military expansion is underway in Alaska due to strategic geographic location, vast areas available for training and maneuvers, availability of air and port logistic capacity
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Annual visitor growth has averaged 6 to 9%. Anchorage hosted 900,000 visitors in 2004
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90% of the air cargo between North America and Asia passes through Anchorage's Ted Stevens International Airport
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In 2002, Anchorage came in second to Memphis in having the most cargo landed weight in the United States, and ranked third in the world for most cargo landed weight
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Health care is the fastest growing industry in Anchorage
Source: Municipality of Anchorage, November 2005
Institute of Social & Economic Research. For the latest and best information on social and economic research, visit the University of Alaska's ISER website.
Anchorage Economic Development Corporation. Features the latest news on Anchorage's developing economy.
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