BUSINESS RETENTION AND RESILIENCE
Businesses in Prince William Sound enjoy opportunities based on the region’s natural resources, scenic beauty, and maritime location. Based on an analysis of business licenses, new business formation has increased in the past few years. However, long-term business survival can be elusive due to high operating costs, difficulty recruiting qualified staff, and a history of adverse events such as extreme weather, natural disasters, and man-made disasters.
PWSEDD surveyed businesses to identify challenges and opportunities to improving the business climate in the region. A majority of businesses (55%) indicated the regional business climate is excellent or very good. However, energy and transportation costs, a reliable and accessible state ferry system, and a variety of government policies and regulations present ongoing concerns and challenges to doing business.
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PWSEDD Action Plan: