AEDC releases annual resource forecast

On May 2, the Anchorage Economic Development Corp. held its annual event celebrating the release of its latest resource extraction projection report at the Downtown Marriott Hotel.

Sponsored by Northrim Bank, the 2012 AEDC Resource Extraction 10-Year Project Projection focused on the oil, gas and mining projects in the state over the next 10 years and the economic impacts of those developments.

The event, which included hors d’oeuvres and a no host bar, featured a live speech by U.S. Senator Mark Begich, D-Alaska, and a DVD presentation by U.S. Senator Lisa Murkowski, R-Alaska, who shared their thoughts on the oil and gas and mining opportunities in Alaska over the next decade from a federal perspective.

AEDC’s President and CEO Bill Popp said the 2012 job estimate for the projects increased this year to 19,341 and also noted that the total dollars proposed for investment decreased slightly from $33.7 billion in 2011 to $30.4 billion in 2012.

Most projects moved back another year in the timeline for varying reasons including permit challenges, litigation, project plan changes, etc.

Popp said AEDC has seen modest progress in moving projects forward but challenges still remain for many of the developments.

The research for the report was provided by North of 60 Mining News editor Shane Lasley and by Dan Dickinson and Mary Ann Pease under contract to Petroleum News and compiled by AEDC.

This highly anticipated event drew more a hundred business professionals again this year.

AEDC also released its 2011 Annual Report focusing on its accomplishments and projects from 2011.

Both reports and AEDC Connections 2nd Edition Digital Newsletter, Live. Work. Play., went paperless — i.e. digital — this year.

They can all be found at AEDC’s website at www.aedcweb.com/

—Petroleum News