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Economic Indicators Fairbanks Community Research Center North PO Box 71267 Star Fairbanks, Alaska 99707-1267 Borough (907) 459-1000 COMMUNITY RESEARCH QUARTERLY A Socio - Economic Review Spring 2011 Volume XXXIV, No. 1 COMMUNITY RESEARCH CENTER The Community Research Center is located on the second floor of the Borough Administration Building at 809 Pioneer Road. Office and Research Library hours are Monday through Friday 8:00 a.m. to Noon and 1:00 p.m. to 5:00 p.m. CITATION Tabular and summary information contained herein may be reproduced without special permission. It is requested that any information reproduced be cited as follows: Fairbanks North Star Borough, Community Research Center, Community Research Quarterly, Vol. XXXIV, No. 1, 2011 ACKNOWLEDGMENTS The Community Research Center would like to thank the many persons, businesses, government agencies and organizations who contributed to this report. FNSB has established a policy of equal opportunity in employment, service, programs and activities. COVER PAGE Arctic Winter Games are coming to Fairbanks, Alaska in 2014. Mayor Luke Hopkins speaks during the acceptance ceremony in the FNSB Assembly Chambers in February 2011. Fairbanks Arctic Winter Games theme is Great Spirit Northern Dreams. To volunteer or offer support go to http://www.awgfairbanks2014.org. Cover page photo taken by Joyce Kelso, Freelance Photographer and FNSB Code Enforcement Officer. FAIRBANKS NORTH STAR BOROUGH COMMUNITY RESEARCH QUARTERLY A Review of Socio - Economic Trends Volume XXXIV, Number 1 Spring 2011 BOROUGH MAYOR Luke Hopkins COMMUNITY PLANNING DEPARTMENT Bernardo Hernandez, Director COMMUNITY RESEARCH CENTER Janet R. Davison, (ed.) Documentation Coordinator II Fairbanks North Star Borough, Community Research Center PO Box 71267, Fairbanks, Alaska 99707-1267 Phone: (907) 459-1212; e-mail: [email protected] WEBSITE: http://co.fairbanks.ak.us/CommunityPlanning/CRC © 2011 Table of Contents Page A Spotlight on Community Economic Trends NEW i-vi Fairbanks Economy at a Glance 1-2 Economic Indicators 3-19 Bank Deposit & Loan Summary 3 Bankruptcies Filed 4 Notices of Default 5 Foreclosures 6 Fairbanks International Airport Freight 7 Fairbanks International Airport Transit Freight 8 Fairbanks International Airport Revenue Landings 9 Fairbanks International Airport Passengers 10 Alaska Highway Statewide Entering Passengers 11 Alaska Highway Statewide Exiting Passengers 11 Alaska Highway Statewide Net Annual Migration Trends 12 Alaska Highway Statewide Net Monthly Migration 12 Alaska Railroad Passengers 13 Alaska Railroad Freight Tonnage and Revenue Dollars 13 Hotel / Motel Room Receipts 14 Quarterly Hotel / Motel Room Receipts NEW 14 Annual Hotel / Motel Room Receipts NEW 15 University of Alaska Museum Visitors 16 Morris Thompson Cultural and Visitor Center 16 Delinquent Property Taxes 17 Alaska Native Corporations Annual Shareholders and Revenue Dollars 18 Permanent Fund Dividend (PFD) Applicant by Zipcode and Amounts 19 Employment 20-28 Civilian Labor Force Unemployment Rates 20-21 Average Unemployment Insurance Claimants and Payments 21 Unemployment Insurance Claimants and Payments 22 Average Monthly Employment Estimates by Industry 23 Annual Average Monthly Employment by Industry 24 Annual Average Monthly Wage by Industry 25 Fairbanks Largest Employers by Organization/Business 26 Alaska's Per Capita Income by Borough and Census Area 27 Quarterly Census of Employment and Wages by Industry 28 Housing 29-34 Apartment/Multi-Plex Vacancy Rates 29 Rental Housing Units Available 30 Average Monthly Rents for Available Housing Units 31 Residential Housing Sales 32 Annual Average Residential Housing Sales 33 New Structures Annual Report 34 a Spring 2011 Community Research Quarterly Table of Contents Page Cost of Living 35-43 ACCRA Cost of Living Index 35-36 Consumer Price Index-U for All Items 36 Consumer Price Index-U (Anchorage) 37 Consumer Price Index-U for All Items (U.S. City Average) 37 Cost of Food at Home for a Week 38 Average Self-service Unleaded Gasoline Prices 39 Electric Customers 40 Natural Gas Customers and Rates 41 Telephone Customers 42 Water Customers 43 Population & Social Conditions 44-55 Population Counts & Estimates 44 Military Population 45 Annual Estimates of the Resident Population for Counties of Alaska 46 Superior Court Filings 47 Distribution of Population, Police and Lawyers 47 District Court Filings 48 Criminal Offense Summary 49 Traffic Accidents 50 Alcoholic Beverages Distributed or Sold 51 Air Quality Summary-Maximum 8 Hour Carbon Monoxide Concentrations 52 Precipitation 52-53 Snowfall 53 Average & Record Temperatures 54 Air Quality Summary-Particulate Matter (PM 2.5) Monitoring-AQI 55 US Census 2010 56-57 Profile of General Demographic Characteristics NEW 56 Population Comparison - All Ages - By Race NEW 57 NOTE FROM THE EDITOR: If you have a change in your address information and wish to continue to receive the hard copy of the Community Research Quarterly please advise this office as soon as possible so the database can be altered before the next mailing. In an effort to conserve on postage costs if your issue of the Community Research Quarterly is returned for any reason, we will not attempt to resend. Thank you for your cooperation. Community Research Quarterly Spring 2011 b A SPOTLIGHT ON COMMUNITY ECONOMIC TRENDS* THIS PAGE INTENTIONALLY BLANK *SPOTLIGHT SOURCE: Employment Forecast for 2011: Alaska’s regional and statewide outlook, “Fairbanks - Back on the growth wagon” By Alyssa Shanks, Economist, Alaska Department of Labor and Workforce Development, ALASKA ECONOMIC TRENDS – JANUARY 2011, Volume 31, Number 1, ISSN 0160-3345. i Spring 2011 Community Research Quarterly The health care industry was the largest contribu- tor to the overall growth of Fairbanks’ economy, followed by government, construction, and profes- sional and business services. (See Exhibit 8.) Gains in 2011 will be small Looking forward, the biggest change from 2010 to 2011 will be the deployment of the 1st Stryker Back on the growth wagon Brigade Combat Team, 25th Infantry, from Fort By ALYSSA SHANKS, Economist Wainwright and the resulting decline in retail spending. Other expected changes are increased airbanks’ long history of growth seems to cruise ship tourism from additional sailings to have been briefl y interrupted rather than Southcentral Alaska, and a decrease in federal Fderailed. After a year of decline, Fairbanks employment following the end of the decennial residents welcomed the return of job growth in census. 2010. Despite worries of weak tourism and con- struction seasons, the Fairbanks North Star Bor- Despite the looming deployment, the borough’s ough moved with the state from 2009 declines to economic factors are positive for 2011. Increases 2010 expansion. (See Exhibit 6.) in tourism, health care, state government, and other areas will likely outweigh potential declines Preliminary fi gures show the borough added 800 from the departure of soldiers and some of their jobs in 2010, a 2.1 percent jump from 2009 and families. These combined changes are expected to the highest percentage of increase in a single year result in a 0.5 percent increase in 2011, or about since 2004. (See Exhibit 7.) 200 jobs. Several industries gained employment in 2010, The military giveth and taketh away and even more maintained their 2009 job levels. Military deployments have a signifi cant effect on the borough, A Return to Growth and the return of deployed troops 6 Fairbanks payroll jobs, 1980 to 2011 is one of the reasons Fairbanks 40,000 grew in 2010. (See Exhibit 9.) Soldiers and their families re- turning to the Fairbanks area spent money on everything from 30,000 new cars to dining out, and that helped shelter the borough from losses seen elsewhere last year. 20,000 Alaskans have cut back on their purchases overall, so increased spending by returning military 10,000 families helped Fairbanks retail maintain its 2009 level of 4,500 jobs. No new large retail outlets 0 were added to the mix, but none 1980 1985 1990 1995 2000 2005 2011 closed, either. This can be seen Note: Employment in 2010 is a preliminary estimate, and 2011 is a forecast. as a victory, because U.S. con- Source: Alaska Department of Labor and Workforce Development, Research and Analysis Section sumer confi dence remained low 12 ALASKA ECONOMIC TRENDS JANUARY 2011 throughout 2010. Despite its distance from the rest Small Job Gains Expected This Year of the nation, Alaska feels Fairbanks North Star Borough, 2001 to 2011 the effects of nationwide 7 4% consumer sentiment. 3.3% Percent employment change from previous year While the troops’ return 3% boosted Fairbanks in 2.2% 2.2% 2.1% 2% 2010, the impending de- 1.6% ployment will mean the 1.3% 1.1% opposite in 2011 — and 1% 0.8% 0.5% the retail sector will feel 0.3% its effects most. More than 4,000 soldiers will 0% leave in February for training, then head to -1% Afghanistan in May on a -1.6% one-year mission. -2% 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 During the past two peri- Note: 2010 is a preliminary estimate, and 2011 is a forecast. ods of deployment, retail Source: Alaska Department of Labor and Workforce Development, Research and Analysis Section jobs and spending de- creased with the reduced count will be minimal. population. Retail will likely lose about 100 jobs as troops ship out and some of their families leave The medical center and 2011 capital construction the area, taking their retail dollars with them. projects — mostly road improvements and main- tenance — will lead to about 100 new construction New construction projects dominate jobs this year. Construction employment grew by around 100 Tourism weathers the storm jobs in 2010. Many came from increased repair work at the North Pole refi nery, and these jobs will The leisure and hospitality industry in the Fair- recur in 2011. Other notable construction projects banks North Star Borough held its own in 2010, that wrapped up in 2010 include the Ruth Burnett maintaining its 2009 level of 4,000 jobs despite the Sport Fish Hatchery, Barnett Street Bridge, and loss of 120,000 cruise ship visitors.
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