ANCOHORAGE, Alaska (AP) — Anchorage has experienced an increase in business this year, despite the state being in a recession exacerbated by low oil prices.
KTUU-TV reported Thursday that both local and national businesses have been setting up shop in Anchorage. Bill Popp, President of Anchorage Economic Development Corp., says the city has experienced a 4 percent increase in building permits this year compared to last year. Popp says the city feels it is getting to the bottom of this recessionary cycle.
New businesses set to open in Anchorage include national clothing retailer Duluth Trading Co., Kendall Auto Group and Bambinos Baby Food.
Popp says the influx is modest, but could be a sign that businesses are deciding it's time to start investing money.