ANCHORAGE ECONOMIC DEVELOPMENT CORPORATION
510 L STREET NO 603, ANCHORAGE, AK 99501 aedcweb.com

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Organizations Filed Purposes: AEDC EXISTS TO GROW AND DIVERSIFY THE ANCHORAGE ECONOMY, PROMOTE A FAVORABLE BUSINESS CLIMATE AND TO MAKE ANCHORAGE THE #1 PLACE TO LIVE, WORK AND PLAY BY 2025.

AEDC'S VISION AND THE BASIS OF OUR LIVE WORK PLAY (LWP) INITIATIVE IS TO MAKE ANCHORAGE THE #1 CITY IN AMERICA BY 2025 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.

IN JULY 2019, AEDC RELEASED THE FIRST-EVER REAL-TIME JOBS INTELLIGENCE REPORT, A QUARTERLY REPORT PROVIDING A SNAPSHOT OF THE ANCHORAGE JOB MARKET. IN THIS REPORT, READERS WILL FIND INFORMATION ON THE TYPES OF JOBS, EDUCATION LEVELS, CERTIFICATES AND HARD AND SOFT SKILLS THAT ARE MORE SOUGHT-AFTER IN ANCHORAGE. READERS WILL ALSO FIND WHICH JOBS ARE MORE PREVALENT IN ANCHORAGE COMPARED TO ANYWHERE ELSE IN THE COUNTRY WITH THE DETAILS JOB POSTING LOCATION QUOTIENT DATA. THE DATA FROM THE REAL-TIME JOBS INTELLIGENCE REPORT COMES FROM JOBS EQ, A SERVICE THAT PROVIDES ACCESS TO LABOR MARKET DATA DOWN TO THE ZIP CODE.AS ANCHORAGE SEEKS TO ATTRACT AND RETAIN BOTH TALENT AND BUSINESS, THIS INFORMATION WILL HELP TO INFORM IMPORTANT BUSINESS DECISIONS, FROM TECH SCHOOLS USING HARD DATA TO DETERMINE WHICH CERTIFICATION PROGRAMS ARE MOST CRUCIAL, BUSINESSES USING AD DURATION PERIODS TO IDENTIFY WHICH JOBS ARE EASIEST TO FILL, TO PROSPECTIVE EMPLOYEES DECIDING TOP CERTIFICATES IN WHICH TO INVEST THEIR TIME AND RESOURCES.IN 2019THE 2019 YEAR-IN-REVIEW REAL-TIME JOBS INTELLIGENCE REPORT SHOWS THAT IN 2019, TOTAL JOBS NUMBERS DECREASED, BUT DEMAND INCREASED ACROSS MULTIPLE SECTORS - INCLUDING INDUSTRIES THAT WERE NOTABLY DOWN FOR THE YEAR. WE BELIEVE THAT FACTORS IMPACTING THESE TRENDS INCLUDE SELF-DISQUALIFICATION THROUGH THE INABILITY TO PASS AN EMPLOYMENT-CONTINGENT DRUG TEST; WAGE ISSUES; LABOR FORCE PARTICIPATION DIFFICULTIES, INCLUDING THE LACK OF ACCESS TO AFFORDABLE AND AVAILABLE CHILDCARE; THE GROWING IMPACT OF CONSUMER PREFERENCE FOR ONLINE RETAIL; AND DEMOGRAPHIC TRENDS AFFECTING THE SHAPE AND SIZE OF THE LABOR FORCE. ANCHORAGE'S LABOR FORCE IN NOVEMBER 2019 WAS DOWN 4,500 COMPARED TO NOVEMBER 2018. THIS LOSS IN LABOR FORCE IS MAKING IT INCREASINGLY HARDER TO HIRE QUALIFIED WORKERS, RESULTING IN CHALLENGES TO ATTRACT BUSINESS INVESTMENT. IT IS ALSO MASKING UNDERLYING TRENDS IN UNEMPLOYMENT RATES - INTIMATING THAT JOBS ARE GROWING AND UNEMPLOYMENT IS DECLINING AS A RESULT. AS ANCHORAGE COMPETES WITH THE REST OF THE WORLD FOR WORKFORCE, THIS INFORMATION WILL BE CRUCIAL TO UNDERSTANDING WHERE OUR ECONOMY IS HEADED, WHAT EMPLOYERS ARE SEEKING, AND HOW WE CAN BETTER SUPPORT THE CAREER PIPELINE FOR HOMEGROWN TALENT.

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 2019, 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 BUSINESS ATTRACTION E-NEWSIN 2019, AEDC CONTINUED TO SEND A SERIES OF ELECTRONIC NEWSLETTERS TARGETED TO SITE SELECTORS AND DEVELOPERS ACROSS THE UNITED STATES. EACH NEWSLETTER IS PACKED WITH REAL ESTATE OPPORTUNITIES, DEMOGRAPHIC INFORMATION, AND EMERGING WINDOWS OF OPPORTUNITY WITHIN THE ANCHORAGE ECONOMY. THE NEWSLETTERS COVERED A RANGE OF TOPICS, FROM HOUSING DEVELOPMENT OPPORTUNITIES, OIL AND GAS DATA, OPPORTUNITY ZONES AND LOCAL TAX INCENTIVES, OPPORTUNITIES AT THE TED STEVENS INTERNATIONAL AIRPORT, AND MORE. THE BUSINESS ATTRACTION NEWSLETTER HAS A 15% OPEN RATE, WITH A 1% CLICK RATE. FOREIGN DELEGATIONSAEDC HOSTED A NUMBER OF FOREIGN VISITORS AND DELEGATIONS THROUGHOUT 2019. DELEGATIONS FROM RUSSIA AND HARBIN VISITED OUR OFFICE IN ADDITION TO THE AMBASSADOR TO THE PHILIPPINES AND A COMMISSIONER FROM THE HONG KONG OFFICE OF ECONOMICS AND TRADE. MEETINGS WITH FOREIGN DELEGATIONS ALLOW US TO SHOWCASE INVESTMENT, TRAVEL AND TRADE OPPORTUNITIES THAT OFTEN LEAD TO AEDC STAFF MAKING OTHER INTRODUCTIONS TO LOCAL BUSINESSES AND OTHER GOVERNMENT BODIES. OUTREACH & RESEARCHTHE FIRST HALF OF THE YEAR THE AEDC TEAM FOCUSED ON OUTREACH TO THE COMMUNITIES OF BOZEMAN, BEND, BOISE, LOUISVILLE, CHATTANOOGA, AND OKLAHOMA CITY TO UNDERSTAND ECONOMIC AND POLITICAL CHALLENGES, INDUSTRY GROWTH PATTERNS AND METHODOLOGY FOR PLACEMAKING AND LIVABILITY INITIATIVES. WE FOUND THAT OUR CHALLENGES IN ALASKA ARE NOT ALL UNIQUE, AND THAT MANY OTHER COMMUNITIES ACROSS THE US FACE SIMILAR POLITICAL AND ECONOMIC BARRIERS.STAFF THEN TOOK A DEEP DIVE IN ANCHORAGE'S OWN HISTORY STARTING IN THE 1980S TO UNDERSTAND THE CITY'S HISTORIC PLANNING EFFORTS AROUND OUR THREE KEY AREAS OF FOCUS: DOWNTOWN, U-MED, AND CHESTER CREEK. AEDC STAFF PRESENTED FINDINGS TO THE BOARD OF DIRECTORS IN THE FALL OF 2019.IN SUMMARY, THE PRIORITIES FOR COMMUNITY AND ECONOMIC DEVELOPMENT INITIATIVES HAVE REMAINED LARGELY THE SAME SINCE OUR CITY'S LAST INSTALLMENT OF LARGE CAPITAL DOLLARS DURING PROJECT 80S. THE CITY HAS ALWAYS PRIORITIZED OUR LARGEST EMPLOYMENT HUB, THE UMED DISTRICT, AS WELL AS TRANSPORTATION BETWEEN DOWNTOWN AND UMED. THERE WAS A PERIOD IN THE 90S WITHOUT MANY MAJOR PLANNING DOCUMENTS RELEASED; HOWEVER, WE KNOW THAT MEANINGFUL PROGRAMS LIKE THE SEASONAL PLANTING OF FLOWERS DOWNTOWN AND THE CITY OF LIGHTS INITIATIVE GOT THEIR START DURING THIS TIME.

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