8 ALASKA RESOURCE REVIEW WINTER 2025 AT A TIME WHEN OTHER STATES AND COUNTRIES ARE PROFITING FROM EMERGING ECONOMIC DRIVERS SUCH AS NEW TECHNOLOGY SECTORS, NICHE SERVICE INDUSTRIES, AND GROWING GOLIATHS IN HEALTH CARE, ENTERTAINMENT, AND RETAIL, YOUNG ALASKANS TODAY CAN SEEM FRUSTRATED BY OUR STATE’S LACK OF DIVERSE ECONOMIC DRIVERS. However, the narrative that Alaska’s economy is stagnant or limited misses an important point: Our state’s resource-producing industries — oil and gas, mining, fisheries, forestry and tourism — are constantly innovating in ways that are redefining Alaska’s future. In today’s rapidly changing world, where mega companies like Amazon, Apple and Tesla are leading the charge on innovation, it can be easy to overlook the innovation taking place within our own backyard. The truth is that innovation doesn't only happen at the scale of massive corporations — it’s happening every day in Alaska’s resource industries, at albeit smaller levels, where companies are finding new solutions to longstanding challenges. Take the oil and gas industry, for example. Companies are significantly reducing the size of drilling platforms, finding efficiencies in drilling and well production, and implementing drone technology, all of which reduces both their environmental footprint and operational costs. Similarly, the mining sector is applying world-class reclamation practices and advanced water treatment techniques to restore land to its natural state following mining activity. Both sectors have made remarkable progress in geological mapping and are now exploring Carbon Capture, Utilization, and Storage (CCUS) technologies to minimize their environmental impact while creating potential for new economic drivers for the state. The tourism industry also has a number of innovative infrastructure projects in the works, like an advanced cruise ship port equipped with shore power to reduce emissions and improve quality of life for Alaskans. Meanwhile, the fisheries industry has made strides in sustainability, in some cases being able to utilize more than 99% of a fish being processed and even developing fish oil to power industrial generators. The forestry industry, too, is innovating by producing high-density wood products that offer more efficient heating with fewer pollutants, implementing better forest management practices to reduce wildfire risks, and creating sustainable alternatives to plastic used in everyday products. These are just a few examples that I’ve personally noticed in how innovation is taking place across Alaska’s resource industries, but there are countless others. Alaska’s main economic revenue contributors have often been called a three-legged stool, though there are a couple of different versions floating around, it generally consists of the oil and gas sector, federal funding, and the third leg being all other sectors including seafood, mining, tourism, timber and transportation. This analogy may paint a somewhat constrained economic picture, but at least two out of the three legs of this stool are not only innovating and unlocking new potential within their respective industries, they are creating a launching off point for new businesses by allowing Alaska to provide a lower tax structure and lower energy costs to the benefit of residents. With that in mind, I hope young Alaskans can recognize that the next wave of innovation is happening right here at home if they take the time to look for it. So, let’s continue to encourage innovation and economic diversity in Alaska by first fortifying our industries working to responsibly develop our state’s abundant resources. INNOVATION, OPPORTUNITY ABOUND IN OUR INDUSTRIES “I hope young Alaskans can recognize that the next wave of innovation is happening right here at home if they take the time to look for it.” — Connor Hajdukovich, RDC External Affairs and Policy Coordinator
RkJQdWJsaXNoZXIy MTcxMjMwNg==