The largest Alaskan-owned, Alaska-based companies.

• Author: Griffin, Judith Fuerst
• Position: The New Forty-Niners - Directory

The largest Alaskan-owned, Alaska-based companies

Unexpected. Unpredictable. Last year served up unanticipated demand for supplies and services that boosted business for many lucky and many wise Alaskan enterprises. Not surprisingly, the good news about economic expansion in 1989 is reflected in the performances of major business players. Our 1990 and sixth New Forty-Niners report identifying the 49 largest revenue producers among Alaskan-owned, Alaska-based firms continues the tale of a more encouraging business climate. Last year was the first in which Alaska Business Monthly could report an overall increase in gross revenues of the firms incluede since the New Forty-Niners feature was first published in 1985.

The 49th state's own most successful businesses, the New Forty-Nener companies, are risk-takers akin to the original Forty-Niners who sought their fortunes in the 1849 California gold rush. They represent the most successful prospectors, those who've staked and worked claims to seize a niche in Alaskan commerce.

Driving increased demand in the 49th state's economy last year was the labor-intensive cleanup operation mobilized to reclaim oil-soiled beaches. Almost 11 million gallons of North slope crude poured from the Exxon Valdez supertanker when it grounded on Bligh Reef in Prince William Sound on March 24, 1989.

The cleanup work poured well over a billion dollars worth of business into the state. The impact was felt not only by companies providing supplies and services for the cleanup operations, but also by businesses that met the needs of support centers, such as lodging, communications and transportation companies. Restaurants and other retailers also benefited from the surge in wage-earner spending power.

Cleanup activities clearly gave momentum to Alaska's economy last year. The Alaska Department of Labor reports that employment in alaska grew in 1989, rising 6.4 percent from 1988. the agency also notes that the 6.7 percent statewide unemployment rate dislodged the previous comparable low of 8 percent set in 1976.

Even without the impact of cleanup revenues, though, the state's business community continued to recover from two prior years of drastic company downsizing in 1986 and 1987. In a review of the economy's performance in 1989 published by the labor department in the April issue of its Alaska Economic Trends publication, the agency's economist wrote, "The oil spill cleanup made a significant contribution to Alaska's...