Economic Impact

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Mining Industry Economic Impact
*McDowell Group "Economic Impact of Alaska's Mining Industry" - January 2013 for the Alaska Miner's Association.

In 2013, Alaska's mining industry provided*:

  • 4,800 direct mining jobs in Alaska.
  • 9,500 total direct and indirect jobs attributed to Alaska mining industry.
  • $650 million in total direct and indirect payroll.
  • Some of Alaska's highest paying jobs with an estimated average annual wage of $100,000, which is double the state average for all sectors of the economy.
  • $21 million in local government revenue through property taxes and payments in lieu of taxes.
  • $137 million in state government revenue through rents, royalties, fees, and taxes.
  • $126 million in payments to Alaska Native corporations.
  • Mostly year-round jobs for residents of more than 120 communities throughout Alaska, half of which are found in rural Alaska where few other jobs are available.

The mining industry also makes substantial community investments in education and training initiatives as well as charitable organizations. Individually, mining industry employees volunteer their time and money to many local causes.

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Livengood Project - a Generation of Jobs and Positive Economic Impacts

The Livengood project is a generational economic opportunity for interior Alaska through local jobs, contracts and purchasing. Based on the Company's July 2013 Feasibility Study, the long life mine is estimated to create:

  • +800 direct construction jobs for 2 years
  • +400 direct operational jobs for 14 years
  • Fund $2.8 Billion Capital Cost
  • Taxes and Royalties paid to the State of Alaska and the State Mental health Trust that will support needed services for Alaskans
  • Significant local contracting and purchasing opportunities
  • Investments in education, training and community non-profit organizations

Mining industry jobs typically are stable year round and include benefit plans, such as, health, life, retirement, etc., which add to the overall economic impact as well as the desirability of employment in that sector.

 

 

 

 

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