The Anchorage Economic Development Corporation recently released its 2015 economic forecast for the Anchorage area, revealing expectations for limited growth and a flattened economy.  The projections are based on anticipated job losses in both the public and private sectors.  The report reveals that projected job reductions in government, oil and gas industry, and construction jobs will be slightly offset by projected new jobs in retail trade, health care services and hospitality but not enough to indicate growth.  The report also reveals interesting trends in the area’s population, with a net loss of total residents in 2014, and a disproportionate number of new residents to the area age 65 and older during the same time.

The lifecycle of a city economy is filled with peaks and valleys and an occasional flat spot is not uncommon.  Rather than just rolling with the times, this is an excellent opportunity to get ahead of the curve and your competition by reevaluating your business strategy and exploring alternatives for retaining and growing market share during leaner times.  Expanding marketing efforts and actively seeking opportunities outside of your usual circle will well position your business to weather potential downturns.  PTAC specialists can help you fine tune your marketing efforts to make sure you are considering all possible government platforms.

During the upcoming PTAC Government Contracting Conference: Government Contracting On the Alaskan Horizon, which will be held on April 2, at the Anchorage Downtown Marriott, participants will learn more about the state’s economic forecast and its potential impact on the state budget; hear an overview of national budget trends and potential impact on government contracting in Alaska; plus learn about current and future federal, state and local government contract opportunities.  During this important discussion, participants will also hear strategies that can be used to prepare a business for economic changes that may be coming to the state.  Registration for this important conference will open soon.