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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 ARCTIC WINTER GAMES 2014 J Fall 2013 Volume XXXVI, No. 3 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. XXXVI, No. 3, 2013. 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 The cover photos are compliments of the Janet R. Davison, (ed.) accompanied by the logo for the March 15-22, 2014 Fairbanks Arctic Winter Games. Participate, support, and attend this wonderful community event by going online http://awg2014.org/, and registering at 2014 Arctic Winter Games Headquarters, P.O. Box 71370 - Fairbanks, AK 99707-(907) 456-2014. In March 2014, over 2,000 athletes, coaches & cultural delegates will arrive in Fairbanks for eight days of athletic competition, cultural exchanges and fun! Get your game on and get yourself here! FAIRBANKS NORTH STAR BOROUGH COMMUNITY RESEARCH QUARTERLY A Review of Socio - Economic Trends Volume XXXVI, Number 3 Fall 2013 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 © 2013 Table of Contents Page A Spotlight on Community Economic Trends NEW i-iv Fairbanks Economy at a Glance 1-2 Economic Indicators 3-16 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 Hotel / Motel Room Receipts 13 Quarterly Hotel / Motel Room Receipts 13 Annual Hotel / Motel Room Receipts 14 University of Alaska Museum Visitors 15 Value of Agricultural Production, Tanana Valley 16 Employment 17-23 Civilian Labor Force Unemployment Rates 17-18 Average Monthly Employment Estimates by Sector 18 Average Monthly Employment Estimates by Industry 19 Annual Average Monthly Employment 20 Annual Average Monthly Employment by Industry 21 Annual Average Monthly Wage by Industry 22 Quarterly Census of Employment and Wages by Industry 23 Housing 24-29 Apartment/Multi-Plex Vacancy Rates 24 Rental Housing Units Available 25 Average Monthly Rents for Available Housing Units 26 Residential Housing Sales 27 Annual Average Residential Housing Sales 28 New Structures Annual Report 29 a Fall 2013 Community Research Quarterly Table of Contents Page Cost of Living 30-37 C2ER Cost of Living Index 30-31 Consumer Price Index-U for All Items 31 Consumer Price Index-U (Anchorage) 32 Consumer Price Index-U for All Items (U.S. City Average) 32 Cost of Food at Home for a Week 33 Natural Gas Customers and Rates 34 Heating Oil Prices 35 Residential Heating Fuel Comparison 36 Comparison Pricer Per 100,000 BTU's of Useful Heat 36 Average Self-service Unleaded Gasoline Prices 37 Population & Social Conditions 38-45 Population Counts & Estimates 38 Military Population 39 Alaska Temporary Assistance Program (ATAP) 40 Adult Public Assistance 41 Food Stamps 42 General Relief 43 Registered Voters by Affiliation 44 Annual Registered Voters by Party Affiliation 45 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 Fall 2013 b A SPOTLIGHT ON COMMUNITY ECONOMIC TRENDS* THIS PAGE INTENTIONALLY BLANK *SPOTLIGHT SOURCE: UAF building boom gets underway, By Elwood Brehmer, Alaska Journal of Commerce, September 5, 2013. Elwood Brehmer can be reached at [email protected]. i Fall 2013 Community Research Quarterly UAF building boom gets underway By ELWOOD BREHMER, ALASKA JOURNAL OF COMMERCE Published: 2013.09.05 11:02 AM Big changes and big buildings are in the works at the University of Alaska Fairbanks. Between an overhaul of the university’s power plant; a new engineering studies building now under construction; an addition to the William R. Wood Campus Center; and general maintenance, more than $380 million worth of new facilities is planned. This spending is in addition to the $87 million Margaret Murie Life Science Building that opened to students in August. “Program needs drive our facility construction,” said Scott Bell, UAF associate vice chancellor for facilities services. PHOTO/JR ANCHETA/UAF Steel rises for the new College of The university’s engineering building — a $108.9 million project — Engineering and Mines at the University is being built in-step with a similar facility at the University of of Alaska Fairbanks. The $109 million Alaska Anchorage. To date, it has received $65.3 million from project is about 70 percent funded, and state capital appropriations and general obligation, or GO, bonds, will require a state appropriation in the Bell said. next legislative session to complete it in time for the 2015 school year. A similar The Board of Regents approved UAF to bond for $10 million project is also underway at the towards the project, leaving it about 70 percent funded for now. University of Alaska Anchorage. Bell said work on the 119,000 square-foot College of Engineering and Mines facility has slipped by six months due to funding issues and the state will need to fully- fund the project in the 2014 legislative session to complete it for the 2015 fall semester. Ground was broken on the project last March. Funding for the 46,000 square-foot Wood Center addition and remodel is already in place. UAF partnered with a private development group that will own new and renovated portions of the Wood Center. When completed, it will be leased back to the university until it is paid off under a 30-year agreement, according to Bell. The leaseback agreement will cost UAF $44 million for $28 million of construction, but allows the school to move ahead with the project without waiting for state funding. Expanding the Wood Center was brought about by the need to rejuvenate or replace the Lola Tilly Commons, which has served as the UAF cafeteria for 40 years, Bell said. Community Research Quarterly September 5, 2013∙Alaska Journal of Commerce Fall 2013 ii Roughly 9,000 square feet of the original 68,000 square-foot Wood Center is being renovated. A new coffee shop and Marche-style dining arrangement with expanded food options will consolidate food service on campus to one building, Bell said. “We need to improve our dining to attract and keep students and the (Commons) is at the end of its useful life,” he said. If construction continues as scheduled, the Wood Center will be finished by next fall. In recent years, UAF has seen its construction budget explode to replace aging infrastructure and meet the growing needs of faculty and students. The school’s payments to contractors fluctuated between $18.7 million and $57.2 million from fiscal years 2001 to 2011. In fiscal year 2012, money spent on construction work jumped to $72.6 million, and last year it grew to $89.6 million. University officials have said they expect the construction budget to be in the $70 million range for the current 2014 fiscal year. Bell said the Murie life science research center was a prime example of how long seeing the funding process through for new facilities can be. “With us doing $110 million worth of research at UAF every year we have to keep our research facilities up to date,” he said. “It took us 10 years to get the funding for the life sciences building.” Eye on efficiency Further energy retrofit work is being done on UAF buildings, a move that should eventually save the school up to $500,000 per year. The university has contracted with Siemens Industry Inc. to do $6 million worth of energy improvements to 10 buildings. UAF is paying for the work up front with bond revenue and Siemens is backing its work with guaranteed savings from lower energy bills. “Siemens engineers run calculations and they predict savings based on the improvements we make to the degree of accuracy that Siemens is willing to back the savings,” company Building Technologies Division engineer Amber McDonough said. A payback period of 12 years is expected — short enough that the energy savings will offset the cost of the improvements during payback. “The focus of these projects was things that are going to save fuel oil or electricity,” McDonough said. The energy efficiency improvement program includes buildings on UAF’s Bethel and Kotzebue campuses. The work focused on heating and ventilation systems, and lighting and building controls, she said.
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