Perspectives on Business and Economics, Vol. 40

viii NEW FRONTIERS FOR ALASKA Volume 40 2022 INTRODUCTION Olga Stewart........................................................................................................................................ x NAVIGATING ALASKA’S FISCAL CRISIS: A FRAMEWORK FOR A SUSTAINABLE FUTURE Lidya Yalew Bekele.............................................................................................................................. 1 Alaska is known for its resource-driven economy and depended on oil tax revenues to cover expenses through the 2010s. However, due to declining oil production and lower prices, Alaska has faced budget deficits since 2013. In response, the state relied on its savings to close the gap. This article explores a balanced approach to counter the budget challenges, one that entails reallocation of the draw from the Permanent Fund, reduced state spending, and new revenue streams. ALASKA’S RENEWABLE ENERGY POTENTIAL: OVERCOMING CHALLENGES Jessica A. Franolic............................................................................................................................... 10 Alaska has great potential for private and public development of renewable energy; the most promising resources are geothermal, wind, tidal, and solar. Three clear applications are transmission to the Railbelt grid, on-site use of high-energy production, and on-site use of low-energy production in remote communities. Alaska’s most significant obstacles to development are land ownership and remoteness. With research and planning, overcoming these challenges becomes an achievable step toward resource development. THE DIGITAL DIVIDE: INTERNET IN ALASKA John Alexander Carr............................................................................................................................ 19 Alaska faces great challenges, given its geography and sparse population, that limit the development of broadband technology throughout the state. With internet connectivity growing more important for education, business, and communication, its development is vital for Alaska’s future success. This article examines the current state of broadband technology in Alaska and the plans proposed by the government and private organizations to solve the internet connectivity problem. HARNESSING UNIQUENESS: SMALL BUSINESS GROWTH IN ALASKA FOR ECONOMIC DIVERSIFICATION Michael G. Nardelli.............................................................................................................................. 28 The decline of the oil industry in Alaska has caused a large deficit in the state economy. Small, highgrowth businesses have the opportunity to diversify and contribute to a larger portion of the state economy. This article explores the unique circumstances in Alaska that cause barriers to growth of small business but also create niche sectors and opportunities that have potential for many of these entities to thrive. ALASKA’S NEW FRONTIER: ENERGY-INTENSIVE COMPUTING Nathaniel Robert Alter........................................................................................................................ 36 Alaska has incredible potential to become a leading region of the world for energy-intensive computing. The state can take advantage, as other arctic locales have done, of the renewable energy potential and attractively cool temperatures for data centers and related industries. Through policies and partnerships, Alaska can use its natural resources to create a new frontier in the energy-intensive computing market. WALKING ON THIN ICE: EDUCATION CHALLENGES IN ALASKA Clare Fonstein. .................................................................................................................................... 44 Alaska faces challenges in providing public K–12 education to the state’s youth. Despite spending more per student than other states, Alaska schools are understaffed, lack proper resources, and score comparatively low on national standardized assessments. With the expansion of existing programs and implementation of new structures, the challenges can be mitigated to provide the best education possible for the students of Alaska. This article explores the root causes of Alaska’s education challenges and options for improvement.

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