Alaska Miners Association and Council of Alaska Producers Unveil Annual Economic Report
AMA and CAP are excited to announce that the Annual Economic Benefits of Alaska’s Mining Industry report by McKinley Research Group (formerly McDowell Group) is now available. This annual report features a look at the benefits brought to Alaska in 2020, including highlights like:
- 4,700 and 9,600 direct and indirect jobs attributed to Alaska’s mining industry.
- $890 million in total direct and indirect payroll, not including highly competitive benefit packages.
- $880 million in purchases of goods and services from about 600 Alaska vendors
- Some of Alaska’s highest paying jobs with an average annual wage of $115,320; over twice the state average for all sectors of the economy
- $49 million in local government revenue
- $117 million in state government revenue through mining licenses, rents, royalties, fees, and taxes, and other government-related payments
- $175 million in payments to Alaska Native Corporations
- Mostly year-round jobs for residents of 90+ communities throughout Alaska, half of which are found in rural Alaska where few other jobs are available.
In one of the most challenging years Alaskans have faced, mining was a bright spot in our economy. As a critical industry, our producing mines and projects implemented strict COVID-19 protocols to protect their workers and contractors and keep community members safe. As a result, there were no significant production disruptions or worker layoffs; millions of dollars in payroll continued to be infused throughout many Alaska communities. Additionally, through pre-shift quarantine facilities, mining companies injected critical dollars into local economies in Juneau, Fairbanks, and Anchorage. 2020 numbers saw an increase of 100 direct and 200 indirect jobs, $150 million more in payroll, and a $3,000 increase in the average annual wage from $112 million. Revenues to local governments increased by $12 million and to the state by $5 million. Finally, we’re thrilled to note that the number of Alaska communities with mining industry employees increased from 70 to over 90 communities, half of which are in rural areas with few other employment opportunities.
Mining truly does work for Alaska. The report is available for download on AMA’s website here: http://www.alaskaminers.org/economic-benefits