Founded in 1914 as a work camp for the Alaska Railroad, the city was devastated by the 1964 Good Friday earthquake but quickly rebounded as the industry headquarters for the Prudhoe Bay oil boom. Today almost half the state's residents live in or around the city, as Anchorage serves as the economic and political heart of Alaska. Sorry, Juneau.
A long-term decline in oil prices slowed the city's cash flow, but Anchorage was still by far the fastest-growing city in Alaska. It's also the most hotly contested city. With 42% of the state's total population and the biggest hunk of the political muscle, Anchorage deals with sneers aplenty from people, particularly from Fairbanks and Juneau, who reckon 'Anchorage is great; it's only 20 minutes from Alaska'.
Like it or not, though, Anchorage is the commercial and financial heart of the state. The spike in oil prices that coincided with the US invasion of Iraq and the increasing prospect of drilling in the Arctic National Wildlife Refuge is good news for this city; as long as oil gushes through its surrounding veins, Anchorage will continue to thrive. |
