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Providing coverage of Alaska and northern Canada's oil and gas industry
July 2008

Vol. 13, No. 30 Week of July 27, 2008

Anchorage: Oil and gas industry adds 280 jobs January through May

The oil and gas industries added 280 jobs in Anchorage over the first five months of the year, according to a new review and short-term forecast of local economic conditions.

The job growth for oil and gas represents a 12 percent increase over the same period last year, according to the report, conducted by the McDowell Group and presented by the Anchorage Economic Development Corp. at its annual investors luncheon on July 23.

In a forecast of short-term economic conditions presented back in January, the AEDC predicted Anchorage would add 1,000 jobs to the economy over the course of 2008, but through the first five months of the year Alaska’s largest city has already gained 820 jobs.

Most of those increases came from the oil and gas industry and from state government, which have both surpassed expectations for the year. The air transportation sector has fallen behind predictions, while most other sectors kept pace with the forecast.

Increased maintenance work

The job growth in the oil and gas industries primarily comes from increased maintenance work on existing North Slope infrastructure and continuing exploration and development programs by both the majors and a new slate of independents, according to Bill Popp, president and CEO of the Anchorage Economic Development Corp.

Popp said rising oil prices could lead to the development of once uneconomic prospects, triggering additional hiring and spending over the coming years.

“Additionally, as planning efforts around a potential gas line development project intensify, AEDC expects further employment growth by the end of this year,” Popp said.

Oil and gas jobs in Anchorage have increased every year since 2004 after falling for several consecutive years. The industries employed 3,200 people in Anchorage in 2001 and employ around 2,800 today.

—Eric Lidji






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