Alaska small businesses need investment, not abandoned contracts
This week is National Small Business Week, a time to celebrate the entrepreneurs who keep our communities vibrant and full of opportunity. In Anchorage, we're lucky we don't have to look far to see that spirit in action.
Just last week, a room full of small business owners, proud families, and community members gathered in Spenard to celebrate the newest graduates of Anchorage Community Land Trust's Set Up Shop and Indigenous Peoples Set Up Shop programs. These programs help entrepreneurs in underserved communities launch and grow their businesses, creating a ripple effect of community revitalization and generational wealth.
But just as we mark this week meant to honor small businesses, the future of this work is in jeopardy. Recently, the federal government terminated congressionally approved grants that fund these very programs. That means Set Up Shop — a proven path to self-sufficiency for underserved entrepreneurs — may not continue in its current form.
And let's be clear. This isn't about government waste or bloated bureaucracy. It's about breaking a contract.
Imagine hiring a contractor to paint your home. They buy the paint, prep the walls, schedule a crew, and then you cancel the job halfway through and refuse to pay. Most people would agree that's unethical, and certainly indefensible. Yet that's exactly what's happening to nonprofits like ACLT, who were asked to do a job, only to see the funding pulled midstream. The work still needs to be done, but the government has walked away.
We're not just talking about line items in a budget. We're talking about hard- working Alaskans who have done everything right. They've taken business classes, written plans, earned certifications, and opened storefronts, and are now left with fewer tools and less support than they were promised. When we don't invest in our own people, we pay the price in other ways, with lost jobs, empty buildings, and neighborhoods full of untapped potential.
When an entrepreneur opens a new business in Anchorage they hire locally. They spend locally. They transform vacant lots into thriving storefronts. The economic return goes far beyond the individual business owner and it makes our city a better place to live.
Set Up Shop has helped more than 500 entrepreneurs turn ideas into realities, and side hustles into fully fledged businesses. These businesses hire locally, pay taxes, and invest in their neighborhoods. That's not charity. That's economic infrastructure built from the ground up.
We will continue to do this work, with or without the original funding. That's what it means to serve your community. But we could benefit from you being with us. If you believe in the promise of local business and the power of neighborhood-led change, we invite you to consider supporting ACLT and, most importantly, supporting these entrepreneurs. You could visit their businesses, share their stories and help us keep the momentum alive.
Because when we invest in our neighbors, we all win — and that's just good business.
SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
5 days ago
- The Hill
Senate Republicans' new SNAP proposal prompts GOP concern
A GOP-backed proposal that would shift some of the cost of food assistance to states for the first time is drawing renewed concern in the party, as critics argue the effort could lead to states cutting benefits on their own. Republicans are pushing to pass the proposal — which could see states with higher payment error rates covering a greater share of benefit costs — as a part of the broader spending cuts and tax package in the coming days. But that doesn't mean some Republicans aren't concerned about the measure. 'Our big thing is the data to be used, the data to be used on the error rate,' Sen. Dan Sullivan (R-Alaska.) told The Hill on Friday. 'So, that's important to make sure that the data is as accurate and reflective of the year you're judging as possible.' Numbers from the U.S. Department of Agriculture showed Alaska's payment error rate — which factors in overpayment and underpayment error rates — hit above 60 percent in fiscal year 2023. The national average hit at 11.68 percent. Sullivan noted the state has seen much lower payment error rates prior to the pandemic and is on a path to improving those figures, noting new numbers are expected soon. But he added, 'It's still higher than our traditional error rate, and as you know, the cost share is based in part on that.' According to the Alaska Beacon, the state's error rate hiked after state officials said they violated federal rules in order to continue feeding people amid a significant backlog in applications. Under the initial plan crafted by the Senate Agriculture Committee, Republicans sought to require states to cover some of the cost of Supplemental Nutrition Assistance Program (SNAP) benefits if they have a payment error rate above 6 percent beginning in fiscal 2028. The proposal in the megabill would also allow states with rates below that level to continue paying zero percent. It also proposes states with higher payment error rates cover a greater share of benefit costs. If the error rate is 6 percent or higher, states would be subject to a sliding scale that could see their share of allotments rise to a range of between 5 percent and 15 percent. However, Senate Republicans tweaked the plan after facing a setback when their 'state cost-share' proposal was rejected by the chamber's rules referee as part of a megabill the party hopes to pass in the coming days. A release from the agriculture committee said the updated plan would allow states to choose the payment error either fiscal year 2025 or 2026 to 'calculate their state match requirement that begins in Fiscal Year 2028.' For the following fiscal year, the 'state match will be calculated using the payment error rate from three fiscal years prior,' the committee said, adding a 'state must contribute a set percentage of the cost of its SNAP benefits if its payment error rate exceeds six percent.' Asked about further potential changes to the plan, Agriculture chairman Sen. John Boozman (R-Ark.) said Friday that negotiators 'worked really hard to try and get a situation that worked for as many people as we could, and I think we've achieved that.' 'Alaska is a unique state, unique situation, so I know that everybody's trying to work hard to accommodate situations that don't fit,' Boozman said Friday afternoon. 'So, I haven't heard of any changes, and I'm sure that, you know, [Senate Majority Leader John] Thune [(R-S.D.)] will grab me if that comes about.' Sen. Lisa Murkowski (R-Ala.) also expressed concerns about the proposal, telling reporters earlier on Friday that she's raised them with others in the party, according to Politico. Asked briefly about the party's SNAP proposal later, Murkowski told The Hill, 'We're still in trouble on SNAP.' 'The implementation is still next to impossible for us,' she said. Republicans say the states' cost-share proposal would incentivize states to improve their error rates. But Sullivan and Murkowski aren't the only Republicans who have voiced concerns about the effort in recent weeks. Originally, the House plan called for all states to cover 5 percent of the cost of allotments in its initial version of Trump's megabill, with states that had higher payment error rates having to pay anywhere between 15 percent and 25 percent. However, the proposal was dialed back after concerns from other Republicans, including Sens. Tommy Tuberville (Ala.) and Jim Justice (W. Va.) over the measure. Asked if he's meeting with Boozman or Thune on the matter, Sullivan also told The Hill on Friday evening that he's 'meeting with everybody.' 'For me, it's just important to get the data as close to the date that you're judging,' Sullivan said, adding that he expects Alaska to see a notable drop in its error rate in a coming report.
Business Wire
26-06-2025
- Business Wire
Alaska Commissioner of Revenue Adam Crum and Prospr Aligned Announce Launch of The Frontier Economic Fund (NYSE: AKAF)
ANCHORAGE, Alaska--(BUSINESS WIRE)--Alaska, long known as America's last frontier, is stepping into a new era of economic leadership. Today, Alaska Commissioner of Revenue Adam Crum, in partnership with Prospr Aligned, announced the launch of The Frontier Economic Fund (NYSE: AKAF), a new investment vehicle focused on companies driving sustainable growth, local job creation, and long-term investment across Alaska. 'There's a real alignment happening between Alaska's strengths and the country's needs,' Crum added. 'This fund creates a bridge between that momentum and people who want to support it.' Share 'Alaska, America's resource powerhouse, is now positioned as a critical solution for national priorities like energy security and supply chain resilience with the launch of The Frontier Economic Fund,' said Commissioner Crum. 'AKAF represents a fundamental shift, prioritizing our top economic sectors including energy development, mining, tourism, cargo, transportation, and retail that make Alaska's economy robust and prosperous. The more than 130 companies initially included in the index have prioritized local employment, local investment, and long-term strategic importance for the state. This fund is about telling Alaska's story to more people and inviting them to help shape what comes next.' Alaska added 7,700 jobs in 2024, surpassing expectations and returning to pre-pandemic employment levels. Construction employment is up 25 percent since 2019, and the energy sector is regaining strength. The Frontier Economic Fund highlights these trends by tracking 137 companies with meaningful operations, workforce presence, and capital investment in the state. 'There's a real alignment happening between Alaska's strengths and the country's needs,' Crum added. 'This fund creates a bridge between that momentum and people who want to support it.' As part of the team behind the fund, Prospr Aligned views the launch as a moment of opportunity not just for investors, but for Alaskans. Vident Asset Management is the ETF fund asset manager and index creator. 'Alaska has always delivered for the country. Now we are offering a way for Alaskans, and anyone who believes in the state's potential, to invest back into the future of this incredible region,' said Derek Kreifels, CEO of Prospr Aligned. The Frontier Economic Fund launched on June 25, with an NYSE bell-ringing scheduled for July 2. To learn more, visit At Prospr Aligned, our mission is to empower investors to align their investments with their values—taking back control and amplifying their voice to ensure capital is used with integrity, not ideology. As a leading consulting partner for institutional investors, we deliver tailored business solutions that reflect client's values without compromising fiduciary excellence. We believe true prosperity is built on alignment—where every dollar reflects your values and where fiduciary duty is upheld. In short, we work to focus investors capital on returns, not politics.
Yahoo
14-06-2025
- Yahoo
Appeals court upholds approval of Willow project on Alaska's North Slope
The ConocoPhillips Alaska Inc. building in Anchorage is seen on June 28, 2023. The company has said it will spend at least $7 billion to develop the huge Willow field and that first production is expected by the end of the decade. (Photo by Yereth Rosen/Alaska Beacon) A federal appeals court on Friday upheld the Biden administration's approval of a major oil development on Alaska's North Slope, even though it identified one flaw with the action. The 9th U.S. Circuit Court of Appeals, in a divided decision, said the U.S. Bureau of Land Management largely abided by federal laws when it granted approval to ConocoPhillips to develop the huge Willow project. Despite one problem that the ruling characterized as 'minor,' the approval shall stand, said the majority opinion, written by Judge Ryan D. Nelson. The ruling allows ConocoPhillips to keep developing Willow, which holds about 600 million barrels of reserves and is slated to produce up to 180,000 barrels per day and be the westernmost operating oil field on the North Slope. And it rejects arguments from environmental and Native plaintiffs who said the BLM approval violated requirements for considering the cumulative and climate impacts of the huge development, impacts to endangered species and other issues. The identified flaw stems from the BLM's decision to approve a Willow development plan with three drill pads rather than the five ConocoPhillips had proposed. The scaled-back plan approved in 2023 also required ConocoPhillips to give up leases on about 68,000 acres, almost all of that in the ecologically sensitive Teshekpuk Lake area. During the environmental study process that led to the approval decision, the BLM had expressed the position that it needed to consider full field development rather than piecemeal development, the ruling said. 'And then when it came time to issue the final approval, it never explained whether its adopted alternative satisfied the full field development standard,' the ruling said. But that was a 'at heart, a procedural, not a substantive violation,' the ruling said. The development approval is to remain in place, the decision said. Overturning the approval is 'unwarranted because the procedural error was minor and the on-the-ground consequences (of vacating it) would be severe,' the decision said. In a dissenting opinion, Justice Gabriel Sanchez said the flaw was serious enough to justify overturning the permit. 'BLM's errors were more fundamental than simply failing to explain how it applied the full field development standard among the alternatives it reviewed,' he said. The agency wrongly excluded consideration of smaller alternatives when it was deciding whether to allow 'the largest domestic oil drilling project on federal public lands,' he said. Willow has been the subject of heated national debate. The discovery, on federal leases that date as far back as 1999, has inspired other exploration in the area, as well as hopes for state officials for a development renaissance on the North Slope. Oil production in the region is now less than a quarter of the 2 million-barrel-a-day peak hit in 1988. Environmental activists, however, have described the project as a 'climate bomb' that will pour substantial new amounts of planet-heating carbon gases into the atmosphere. Friday's ruling is the latest in a yearslong series of legal challenges that have created roadblocks to Willow development. In 2021, U.S. District Court Sharon Gleason overturned a prior approval of Willow. She ordered the BLM to complete a formal supplemental environmental impact statement to better analyze climate impacts and impacts to threatened polar bears. The 2023 project approval is the product of that supplemental study. ConocoPhillips, which is already well into Willow construction and plans to spend at least $7 billion on development, described Friday's ruling as good news. 'ConocoPhillips welcomes the 9th Circuit Court of Appeals decision, which allows construction on the Willow project to continue. We recently completed another significant winter construction season, and the project remains on track for first oil in 2029,' company spokesperson Rebecca Boys said by email. 'We look forward to continuing the responsible development of Willow, which will enhance American energy security while expanding local employment opportunities and providing extensive benefits to Alaska Native communities and the State of Alaska.' Over the past winter season, crews delivered modular structures and worked on road, pad, bridge, work camp and pipeline construction, Boys said. That work was allowed to proceed because the 9th Circuit Court in December denied the plaintiffs' motion for a restraining order blocking it. Lawyers for the plaintiffs in the case had mixed responses to Friday's decision. Some were highly critical. 'This decision is bad news for the planet and anyone who cares about the impacts of industrialization on communities now and in the future,' Bridget Psarianos, an attorney with the environmental law firm Trustees for Alaska, said in a statement. 'The bureau is required under the law to protect the western Arctic's sensitive ecosystem and the subsistence users who rely on them. But the agency did not minimize the harm from this project on the Arctic's people, animals, habitat, and the planet in a real way, in violation of the law. There is too much at stake to gloss over the harm this project will do,' said Psarianos, who is representing some of the plaintiffs. It will probably be fairly simple for the BLM to address the court-identified flaw, Psarianos said in a follow-up email. The agency could submit a report or a memorandum explaining its reasoning, leaving the approval unaffected, she said. Other plaintiff representatives portrayed the ruling as a vindication, albeit a partial one. 'Today's ruling is a significant step forward for Alaska's North Slope,' Hallie Templeton, legal director for plaintiff Friends of the Earth, said in a statement. 'We hope that this will push BLM to heed the significant risks that Willow poses and deny it for good. While this should be the final straw for the doomed Willow Project, we will continue fighting to prevent this carbon bomb project from destroying one of our last remaining wild places.' A spokesperson for the BLM declined to comment, citing the agency's policies on litigation. SUPPORT: YOU MAKE OUR WORK POSSIBLE
