Prince of Wales Alaska Economy Prepared for the Chamber Rain - PowerPoint PPT Presentation

Prince of Wales 
 Alaska Economy 
 Prepared for 
 the Chamber Rain Coast Data

Prince of Wales 4,200 people 
 3rd largest island in US 
 97th largest in world 
 10% of Southeast AK 
 12 communities 
 2,000 miles road

Changes in Southeast Alaska: 
 1960 to 2015 80,000 3 70,000 Y E A R S 1 5 YEARS 3 60,000 Y E A R S 50,000 40,000 S R A E 30,000 Y 5 3 20,000 10,000 1959 1994 2007 2012 2015

Changes in Southeast Alaska: 
 The Last 5 Years Population +2,900 +4% 
 Labor force +1,500 +3% Job Earnings + $275 million +14%

Changes in POW Alaska: 
 The Last 5 Years Population +230 +5% 
 Labor force +205 +15% Job Earnings + $19 million (+24%)

Changes in Southeast Alaska: 
 The Last Year Population -165 people (-0.23%) 
 Workforce -321 jobs (-0.7%) Job Earnings + $34.6 million (+1.6%)

Changes in Prince of Wales: 
 The Last Year Population -24 people (-0.5%) 
 Workforce -44 jobs (-3%) Job Earnings -$4.1 million (-6.6%)

4,207 2015 Carolyn Chapman. 4,212 2014 Prince of Wales Photo Credit: 
 4,207 People (-24 last year) 
 Demographics 4,227 2013 4,239 2012 4,271 2011 4,012 2010 4,083 2009 4,030 2008 4,004 2007 Demographics 4,105 2006 74,382 People 4,101 2005 4,201 2004 4,208 2003 4,253 2002 2001 4,364 2000 4,653 1999 4,896 1998 5,103

Median Age 
 POW=40.5 
 21% AK=34.4 POW Residents 60+ 
 Those 65-79 increased by 29% 
 in Last 5 Years Photo Credit: Carolyn Chapman.

2014 Seafood Southeast 12% Alaska Visitors Employment 9% Government Earnings 
 35% Construction $2.2 billion 7% Professional Services 6% Private Health Care 6% 45,700 Jobs Social, Info, Timber 4% Trade F i n 7% a n c i a l A Other Mining 5% c Mining 4% t i 6% v i t i e s 5 %

Prince of Seafood Wales Island 19% Employment Government Earnings 
 31% Timber $78 million 12% Heath Care & Social 6% 1,935 Jobs Other Maritime 4% Other 4% Visitors 9% 4% of all Mining 5% Construction SE wages Trade 6% and jobs 10%

$65,773 Federal Gov't $64,948 Seafood $53,553 State Gov't $52,623 Timber $46,839 Construction $41,655 Other Maritime $36,725 Health & Social Services Avg. Annual $32,996 Local Gov't Earnings by $31,036 Trade Industry $30,838 Tourism $29,098 Other $40,386 Average 0 17500 35000 52500 70000

Government Local S t a 25% Federal 4% t e 2 670 Jobs 
 % Government wages = +3% 31% of all employment earnings last year Federal 52 State 33 Local 581

Seafood Industry 230 Jobs $15 million earnings Other Salmon 39% 16 Million Pounds of 
 Pink Salmon Crab and Halibut <1% Seafood 2015 57% G (Landed on Prince of Wales only) e o d u Other 2% c k 2 % Photo Credit: Carolyn Chapman.

Pounds versus Value Other Salmon Other Salmon Pink 
 39% 50% Salmon 
 17% Pink Salmon Halibut <1% 57% Other G e Halibut 4% o d u Other 2% c 12% Geoduck k 2 % 17% 16 Million Pounds $11 Million

V ALUE & P OUNDS OF S EAFOOD L ANDED IN 
 P RINCE OF W ALES 2006 TO 2015 $13 18 Nominal Ex-Vessel Value (millions) Landed Pounds (millions) $12 $12 $12 13.5 $11 $11 $11 $11 $11 $11 $11 $11 $11 $10 $10 $10 $9 $9 9 $9 $8 $8 310 to 395 vessels $8 $8 $8 4.5 $7 $7 $7 4 8 3 5 3 3 3 5 15 16 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Maritime 2015 300 jobs 
 (230 Seafood) $18 million earnings 15% of ALL jobs 23% of ALL earnings

Maritime as a % of all private sector earnings 11% 22% 35% POW SE Alaska Alaska

Timber Industry 175 jobs (+4%) 4,500 470 Jobs Board Feet Cut 3,375 53% of all SE timber jobs 2,250 1,125 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2008 2010 2012 2014

Island Jobs Associated With Viking Lumber 37 Sawmill 98 
 Loggers 9 7 Truckers Barge Workers 5 12 Cutters Road Builders 28

Primary Uses of Viking’s Lumber Viking Lumber = 98 jobs

Visitor Industry 230 Jobs +4% Photo Credit: Carolyn Chapman.

Passengers Arrivals 2015 37,000 Ferry 22,100 Air 13,500 Small 
 1,000 Cruise 0 7,500 15,000 22,500 Photo Credit: Carolyn Chapman.

105 Jobs -47% Construction 
 Industry

Health Care 
 Industry 123 Jobs 
 -9%

Includes a LOT of things, including mining Other 4%

Bokan Mountain

Niblack Project

A VG . G OLD AND R ARE E ARTH P RICES PER O UNCE 2008-2015 Mining 
 Industry Gold Rare Earth 2008 2009 2010 2011 2012 2013 2014 2015

Declining State Government

POW Only: Rate your level of concern about how the State budget crisis will impact your: Significantly concerned Maximum concern Region 46% 54% Community 43% 36% Industry 22% 44% Business 20% 20% 0% 25% 50% 75% 100%

What actions will ensure the economic resilience of your business/ industry/community? 57 comments from POW

What will Southeast Alaskans Do? 1 Reduce business costs 
 Cut Costs Employee Reductions or Hiring Freeze Delay Investments Reevaluate Business Operations Increase economic development 
 2 Economic Planning & Analysis Collaborate Support Local Businesses Reduce government spending/services 
 3 Budget Cuts Reduce Services Spend Frugally Resiliency Mapping Increase Taxes: Instate Income Tax Oil Tax Change Other New Taxes (Font size = number of 4 responses) 5 Maintain ferry services 
 What actions will 6 Increase communication with government/elected officials 
 Southeast Alaskan community and business leaders implement or 7 Change use of permanent fund earnings to pay for state costs 
 advocate for to ensure 11 Focus on tourism 8 Diversify economy the economic resilience of regional businesses 12 Invest in education 9 Make region more attractive 13 Build roads and communities in 10 Natural resource development 14 Increase private land holdings response to the impacts of the State fiscal crisis? 


Top Benefits How Significant are These Elements to Operating Your Business in Prince of Wales? Moderate benefit Significant benefit Overall Quality 
 77% of Life Recreational 
 70% Opportunities Cultural 
 48% Opportunities Access to 
 28% Natural Resources 0% 20% 40% 60% 80%

A VERAGE P ROFIT OF I NDEPENDENT SE A RTISTS , 2013 (Regional Average = $5,105) Hoonah-Angoon Area $8,975 Skagway $8,440 Ketchikan $7,789 Haines $7,464 Juneau $5,009 Petersburg $4,842 Wrangell $4,629 Sitka $4,046 Prince of Wales $1,879 $4,750 $8,500

Top Barriers How Significant are These Elements to Operating Your Business in Prince of Wales? Moderate barrier Significant barrier Cost of transportation (freight) 86% Overall cost of business 85% 72% Cost of transportation (people) Federal regulations 62% Local suppliers for your business 60% Availability of worker pool 60% The cost of electricity 59% State regulations 57% 0% 25% 50% 75%

Networks: Interactions Valuable Extremely valuable 55% Banks Other businesses in your industry Economic Development Organizations Local Government State Government Environmental Organizations Federal Government Industry Associations/Chambers Regional University (UAS, UAF Programs) Tribal Government/Alaska Native Entities Business Assistance Centers Professional Service Firms 0% 17.5% 35% 52.5% 70%

Southeast Alaska Land Ownership 
 Circle size = Number of Acres 16% O THER F EDERAL 
 T ONGASS 3.4% A LASKA N ATIVE 78% 2.5% S TATE OF A LASKA 0.25% T OWNS 0.05% P RIVATE LAND OWNERS T HE F EDERALLY -M ANAGED T ONGASS M AKES UP NEARLY 4/5 TH OF ALL S OUTHEAST

Economic Impact IFA

$52.2 Million Economic Impact in 2015 T he total economic impact of the IFA in Prince of Wales was $19.4 million T he total economic impact of the IFA in Ketchikan was $21.6 million Shared seafood impact $11.2 million

50,500 people 
 and 12,000 vehicles $52.2 Million Economic Impact in 2015 travel between Ketchikan and Prince of Wales Island annually.

$52.2 Million Economic Impact in 2015 320 island jobs and $7.1 million in wages are dependent on the IFA

IFA 
 Tourism 2,265 summer tourists and 800 Ketchikan hunters came to POW on the IFA, accounting for 3,000 visitors. They stayed an average of 12.7 days. 79% came to Prince of Wales by ferry to fish. Visitors spent $10.2 million in Prince of Wales on hotels, food, activities, etc. for a total economic impact of $14 million. Tourists generated 213 peak summer visitor industry jobs with an associated payroll of $1.7 million (including secondary jobs).

IFA Visitor 
 Survey

What did you do (or plan to do)? 79% Fished 71% Salt water fishing 41% Fresh water fishing 32% Hiked 17% Camped 14% Hunt 8% Cave 8% Kayaked 3% Cycled 0 0.2 0.4 0.6 0.8

Where did you go (or plan to go)? 73% Craig 60% Klawock 47% Hollis 36% Coffman 35% Thorne Bay 20% Whale Pass 13% Naukati 12% Hydaburg 6% Kasaan 2% Port Protection 2% Edna Bay 1% Point Baker 0 0.2 0.4 0.6 0.8

Where did you stay? 26% With Family/Friends 17% Cabin 14% Camped 12% Resort 11% Hotel 7% B&B 6% RV 4% Bunkhouse 3% On Boat 0 0.075 0.15 0.225 0.3