Anchorage Economic Development Corp. is asking residents what projects they want to fund from a proposed sales tax

Jenna Wright, President of nan Anchorage Economic Development Corporation, discuses ideas for Project Anchorage astatine nan Peterson Tower connected Tuesday, June 11, 2024. (Matt Faubion/Alaska Public Media)

A conjugation of business leaders is asking Anchorage residents what nationalist projects they’d for illustration to spot from a imaginable income tax. It’s called Project Anchorage.

The 3% taxation inaugural is led by nan Alaska Economic Development Corp. Two-thirds of nan taxation would beryllium dedicated to spot taxation alleviation and nan different 3rd would money nationalist projects. 

At a news convention Tuesday, AEDC president and CEO Jenna Wright said Anchorage is competing pinch different cities to pull and clasp talent and workforce. She said Anchorage’s competitory advantage is value of life. 

“This task offers america nan opportunity to travel together arsenic a metropolis and ideate what nan adjacent section of Anchorage could look like,” said Wright. 

Wright said they’re looking astatine a 5 twelvemonth lifespan for nan tax. She said there’s nary limit connected types of projects that tin beryllium submitted. In nan 1980s, the authorities funded projects to build and amended nationalist facilities, including nan Sullivan Arena, Loussac Library and Tony Knowles Coastal Trail. Wright said those projects are what makes nan metropolis special.

Nolan Klouda, head of nan University of Alaska Center for Economic Development, did nan economical study for nan proposal. He said nan income taxation would make astir $180 cardinal successful gross annually. That comes to $120 cardinal for spot taxation relief, and $60 cardinal for projects.

Nolan Klouda, executive head for UAA’s Center for Economic Development discusses Project Anchorage astatine nan Peterson Tower connected Tuesday, June 11, 2024. (Matt Faubion/Alaska Public Media)

Klouda said for each $100,000 of assessed value, taxpayers would prevention astir $310. For a location weighted $450,000, he said taxpayers would prevention $1,163. He said nan connection has exceptions connected necessities including groceries, childcare services, and medication.

“The exemptions that are designed to protect debased income households,” said Klouda. “There’s decidedly a batch of thought that goes into really to minimize antagonistic impacts to debased income households.”

Laile Fairbairn is co-owner of respective section restaurants successful Anchorage. She’s successful support of nan income taxation and said it’s clip to put successful Anchorage.

“At nan extremity of nan day, we request much group that emotion our city. We request much group that are consenting to return large risks and invest,” said Fairbairn. “For existing businesses to succeed, we request a workforce. For caller businesses that want to commencement up here, we request group to activity here, we cannot beryllium by and fto outmigration proceed to happen. It’s a look for a dying city.”

The conception is modeled aft Oklahoma City’s MAPS initiative, a 1% income taxation specifically for nationalist projects. The original ballot was successful 1993, but it has been reauthorized by voters an further 4 times.

Mayor-elect Suzanne LaFrance hasn’t endorsed nan income taxation proposal.

Ideas tin beryllium submitted to nan conjugation done Sept. 15 connected nan Project Anchorage website. 

Advocates dream nan income taxation is connected nan ballot successful Spring 2025.