The state government of Alaska should focus on Alaska’s competitive strengths. There are abundant fossil fuels and derivatives available for sale. Metals mining, I forecast, including rare earth elements are being discovered and produced at an expanding rate and may be called upon to produce increased revenue to the State of Alaska in addition to private industry jobs.
Alaska has world class projects and prospects. Concurrent advances for extended commerce in industry are just on the horizon. Oil, gas, coal, hydropower will lift our per capita benefit. We the people of the State of Alaska own the resources and must reap benefits beyond balancing a large state government.
Yesterday’s revenue leader is not necessarily tomorrow’s. Our state government, through legislation, should mandate the creation of value added products from the resources being produced prior to exportation from the state. Large scale coal production for smelter operations and electric generation should occur, especially the area west of Cook Inlet. State and native corporation lands there are less regulated than federal lands.
Alaska’s economy is not static. Fluctuating and preservative federal government policies must be changed for domestic economic benefits. Tourism benefits occur as very seasonal bubbles and affect small local markets with large visitor markets. I expect tourism and spending to substantially increase this year. Money flows to entrepreneurs and the state and all of the citizens’ benefit from the enterprises.
There must be continuous economic diversification in Alaska. More hydro-electric dams need to be built and the power sold cheap, thus lowering costs to/and promoting new and ongoing business ventures. More emphasis is needed combining the infrastructures of transportation, energy, and industrial development on area wide basis’.
Mining and associated industries will become large contributors to state revenues. Our state must require full business production accountability. Mineral extraction taxes must be paid on production, without credits, from the first day of operation; a change from the current 3 ½ year delay of any taxation calculation. The state needs to tax resource developers 35% of market value of mandated in state processed mineral values.
A new Alaska Mining Permanent Fund may be created to hold and invest these funds for benefit payouts to the true resource owners, Alaska’s citizens.
Craig Harper
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