Natural Gas Pipeline

For a state with a gross state product of $34 billion, close to $6 billion of which is driven by extraction industries, a $25 billion gas line is an important issue. FEDC believes that a natural gas pipeline is an important economic event for Alaskans, whose impact will continue for many generations.  Learn more about the gas line development project.

April 5, 2006

FEDC is to Promote Awareness on Gas Pipeline Issue

The Natural Gas Pipeline is an item of hot discussion in the Fairbanks community. It not only affects the present generation, but also people who will live in Fairbanks 20-30 years from now. Fairbanks Economic Development Corporation tries to stay informed on the issue and educate the public about its importance.

FEDC organized an interactive process between the current business leaders of Fairbanks and the leaders of the future. On Thursday, April 6, Jim Dodson, FEDC’s President and CEO, John Binkley, a candidate for the governor’s position, and Andy Warwick, a CPA partner of Warwick & Schikora, will meet senior business students to address the issue.

The question of how the state should be involved in this issue and what way it should go in negotiating with oil producers concerns any active member of this community.

February 28th, 2006

Dr. Jeffrey Madge Reflected on Fairbanks Potential to Transfer Research

Last week, FEDC hosted a series of events with Dr. Jeffrey Madge, manager of the University of Calgary's Research Transition Facility.  Dr. Madge met with UAF faculty, staff and students, as well as members of the Fairbanks business community.

Dr. Madge was invited to offer his expertise in helping university researchers to commercialize their inventions and facilitate a more interactive exchange between university and community. After a series of meetings with the university officials and faculty Madge concluded that the University of Alaska Fairbanks is definitely active in research. “Incubators can be successful anywhere, it is just a question of leadership,” Madge said. During the lunch with faculty, deans and directors Madge was asked a series of questions on how research transfer can be facilitated. “In addition to the general support of the university administration, creating the entrepreneurial environment outside of the university but in close proximity to it is crucial,” Madge concluded.

Fairbanks is privileged to have the only research institution in Alaska (UAF) in close proximity. Research in arctic biology, engineering, and software development generated on campus, can fulfill various needs of the business community if this research is commercialized. FEDC works with UAF to improve the university-community connection by creating a business accelerator. Dr. Madge’s visit is a part of the effort to start an Alaska Technology Business Accelerator, a facility that will provide physical space and professional assistance for researchers and entrepreneurs with their start-up businesses.

You can download Dr. Madge's presentation here.

FEDC also met with several economic development organizations to ensure that FEDC works in synergy with them on projects affecting Alaska. Project TREND and Alaska Small Business Development Center showed interest in the new project of FEDC and expressed their willingness to assist with its development. Center for Economic Development, University of Alaska, and FEDC agreed to work together of rural outreach projects in the Interior Alaska. Anchorage Economic Development Corporation will work with FEDC on “Ship to Alaska” campaign, aiming to influence companies to decrease existing shipping rates to Alaska and communicate the advantages of offering shipping service to Alaskans.

Despite the cold, early morning weather, real estate, mortgage industry leaders and other interested individuals gathered to listen to the presentations by Mike Meeks and Cynthia Larson (U.S. Army), Jack Hébert (Cold Climate Housing Research Center), Brigitta Windisch-Cole (State of Alaska Department of Labor), Eric Havelock and Laurie Holte (Alaska Housing Finance Corporation), and Gene Dobrzynski (Department of Housing and Urban Development).

Mike Meeks’ presentation explained that any estimate of the future housing needs for Ft. Wainwright is approximate.  However, there is a clear need for a substantial number of new units by 2008.  Brigitta Windisch-Cole introduced a comprehensive economic outlook of the construction industry, stressing the significant economic impact this industry has on the economy of Fairbanks.  Jack Hébert transcended an important message that Fairbanks construction professionals are highly qualified and better familiar with the environment to fulfill housing needs in Fairbanks.  Eric Havelock and Laurie Holte introduced missions of AHFC and explained how they can be helpful to real estate and construction companies.  Gene Dobrzynski also presented the missions and programs of HUD and explained the way that those programs could aid further development of the construction industry in the Fairbanks North Star Borough.

Giovanna Jackson, past Executive Assistant at FEDC, said that FEDC wanted to educate the Fairbanks community on the possible solutions for Fort Wainwright’s housing problem, so they may be better prepared when the details and the need to move on solving this problem arrives.  She believes that FEDC’s main goal for the event was accomplished, since the supply and demand side met and exchanged their plan on resolving the issue.

On January 12th, Fairbanks North Star Borough Assembly members unanimously voted to continue funding of FEDC. After four professionally prepared presentations (view a sample Power Point presentation) made by Jim Dodson, FNSB Assembly members were assured of feasibility, importance and measurability of FEDC goals for 2006.

The Assembly hearing helped FEDC and its supporters to state its mission to the public once again. In addition to Jim Dodson, three other individuals testified in favor of the organization. The only concern that was raised by the public was the increasing role of government in economic development. Unfortunately, such questions are caused by limited awareness of the public of FEDC goals. FEDC aims to achieve sustainable economic development and increase the presence of private industries. It is a liaison organization between the government and the private sector. The presence of government in economic development remains essential for most successful societies with high quality of life all over the world. Even though FEDC pursues the goals of increasing quality of life in Fairbanks community, it is not a government institution. Reliance on public and private funds makes FEDC more independent and efficient.

FEDC established a practice of publishing its achievement reports online, which makes it more transparent and responsive to the questions of its investors and the general public.

Interim President and CEO introduced the Board to FEDC staff and commenced the meeting addressing corporate governance principles of FEDC. Mr. Dodson mentioned that the guidance for FEDC corporate ethics was provided by Foraker Group (www.forakergroup.org), an organization specializing in consulting of non-profit management.

Mr. Dodson also reported on FEDC success and future plans introducing  FEDC’s Annual Report 2005. The Board seemed pleased with the fact that FEDC was not stagnant despite the absence of the Board for nearly 2 months and moved ahead with its project. The Board also expressed their desire to look into some of the projects in more detail to gain better understanding of FEDC’s core objectives.

FEDC highly values corporate governance and transparency of its operations and is pleased to inform the community of the steps that are taken in this direction.

FEDC launched the new web site and ushered in a new presence for Interior Alaska's economic development marketing organization.

Branding Fairbanks' economic development in terms of imagination, involvement, innovation, intelligence and inspiration, the web presence will highlight various economic segments within the area including agriculture, transportation, research and technology, military and natural resources.

WebWeavers Technology Group, an award winning design firm based in Fairbanks, was contracted to develop the site while working collaboratively with Olga Rudenko, a University of Alaska Fairbanks intern in FEDC.

The site will be used to help attract new businesses to Interior Alaska. "Local residents can also learn a lot about their own area from surfing the pages," say Jim Dodson, interim President and CEO of FEDC. "I encourage people to check it out."

Colleen H. Barta of the William Factory Small Business Incubator have addressed UAF students and faculty on Dec. 6. She  discussed how the creation of the William Factory Incubator benefited Tacoma, Wash. and why the business incubation model is effective for economic development.

Barta is the business development director for the incubator, a nonprofit corporation that assists in the startup and expansion of small business enterprises. The William Factory Small Business Incubator has graduated more than 200 companies from the incubator, generating more than $26 million in revenues and generating 260 jobs. It received the Best Business Incubator of the Year award in 2005 from among over 800 in National Business Incubation Association.

UAF constantly searches for mechanisms to find business applications for research. Incubators are one way to make this intention a reality. More than 4,000 incubators in the world fulfill this purpose. Barta noted that an incubator in Fairbanks will be a great instrument to turn ideas into businesses.

While in Fairbanks Barta met with local business leaders at the Chamber luncheon and FEDC reception.

You can access more information about William Factory Incubator or download Colleen's presentation.