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HB 369 Bill Signing

Governor Sean Parnell meeting with and speaking to workers around the state.

Economic Growth in Alaska: Key Features

 

Individual Tax Relief for Alaskans

Two-Year Suspension of the Motor Fuel Tax – Alaskans need relief at the pump to ease increasing financial burdens – the two year suspension would apply to gasoline, diesel, marine, and aviation fuels. 

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Oil and Gas workers

Energy for our Homes and Businesses

In-state Gas and Commercialization of Alaska North Slope Natural Gas – Continued focus on aggressively pursuing two paths. Each of these options will provide Alaska’s gas to our families and businesses while increasing future State revenues. A $25 million appropriation request for the Alaska Renewable Energy Fund would encourage continued development of geothermal, hydro, wind, and biomass energy projects. HB 182//SB 143 provides a structure for Railbelt Utilities to join forces to plan for the next generation of energy transmission.

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Increased Oil Production and Job Growth

Tax Incentives for Oil and Gas Explorers and Producers – To encourage more investment and employment in developing Alaska’s natural resources we’ve proposed tax credits and benefits to companies who explore and invest in Alaska’s oil fields, spurring job growth and higher oil production.

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Increasing Visitors to Alaska’s Shores

Investment in Alaska’s Tourism Industry – We need to boost the number of visitors to Alaska and increase tourist dollars to our shores in order to grow our economy and fuel Alaskan incomes. SB 311 and HB 422 provides for increased and sustainable marketing of Alaska and reduces high taxes to foster growth for our small businesses.

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Trail workers

Creating Private Sector Jobs this Summer

Responsible Fiscal Investment – Creating construction jobs across the state to address our backlog of deferred maintenance on existing State-owned facilities will put our private sector carpenters, electricians, plumbers, roofers, HVAC contractors, and road crews to work. By committing an investment of $100 million for the next five years we can ensure a steady stream of employment for Alaskans.

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Building Roads to Our Abundant Natural Resources

Opening Roads to Resources and Communities – By aggressively pursuing access to our abundant natural resources we can continue to put Alaskans to work. The Roads to Resources Initiative increases access for communities and continued responsible development of our fish, timber, minerals, and petroleum reserves. We will continue to build new roads and maintain the ones we have. This initiative will continue work on the road to Nome, building a road to Umiat, and improving the road to Cascade Point in Juneau. We will also provide much needed maintenance on the Dalton Highway and other roads, airport maintenance, and establish funds for a stable, reliable Alaska Marine Highway System.

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New Construction

Crime Lab and Life Sciences Research Facility – Advancing plans for both a Public Safety Crime Lab and University Life Sciences Research Facility will create approximately 400 jobs. Alaska needs an updated Crime Lab to enhance protections of Alaskans and address the backlog of statewide cases. Advancement of science and research is vital to the economic engine of our future.

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Alaskan Business Development

Micro-Loan Program for Small Businesses – To promote economic development SB302//HB412 proposes to help small businesses access critically needed capital by creating a new loan program. This program will provide small and short-term loans to our small businesses for start-up, expansion, and sustained progress.

Rural Initiative Fund and Interest Rates on Large Commercial Lending Project – HB 410// SB300 allows for modernization of lending practices and rebates for job creation or investments made to rural areas in Alaska.

Recovery Zone Economic Development Bond Authority – Provides for authorization of $90 million in local government projects and $135 million for private economic development projects throughout the Alaska Industrial Development and Export Authority.

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Alaska Performance Scholarships

Growing Alaska’s Future – Our students will reach higher with incentives to achieve academic excellence. We can better prepare our students to position Alaska’s economy for growth with a stronger workforce and retain our hardworking students at home.

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