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sectors that are the life's blood of the community. Skagway's history as the major
transshipment port in the Upper Lynn Canal continues today.
Skagway’s historic significance and natural beauty now attract hundreds of thousands
of visitors each year. Skagway’s seasonal tourism-based economy is very strong and
growing. The visitor industry is the most important segment of Skagway’s economy,
providing most of the business income, employment and government revenue. The
economy is robust between May and September- the peak tourist season and yet
continues to grow in the off-season months. As the number of visitors continues
increasing many successful businesses have developed and thrived, attracting
seasonal resident business owners. In addition to employing most year round
residents, Skagway businesses attract many out-of-area seasonal workers to fill a
variety of seasonal jobs necessary to support Skagway’s visitors. As a result, the
population almost triples in size during the tourist season.
The volume of visitors has increased dramatically over the past twenty years. In 1983,
summer visits to Skagway numbered 164,000. During the 2005 season, there were
over one million visits to Skagway by cruise ship passengers and crew, highway
arrivals, state ferry, train, water taxi and air taxi visits. This adds up to an economy that
in 2005 generated over $110 million in taxable revenue.
The public sector is the next biggest segment of the Skagway economy. The National
Park Service, City of Skagway, Skagway City School District, Dept. Of Homeland
Security, and the Alaska Dept. of Transportation & Public Facilities make up the large
public sector which represents close to 30% of the year round employees.
In addition to the visitor industry, a small transportation sector provides an important
economic sector. Transshipment of goods to and from the Yukon continues to be an
important part of the economy. Although, the Yukon economy has declined somewhat
with the closure of several mines, other sectors of the Yukon economy are continuing to
expand. This expansion will create an increased demand for goods that are being
transported from the US and Vancouver BC.
The economy of Skagway is on an upward swing as more people are staying in the
community during the winter months, expansion of the Skagway port continues, and
Skagway is well placed to benefit from the construction of a natural gas pipeline,
railroad, and fiber optic cable corridor linking Alaska and Canada which will pass
through Whitehorse, YT with potential spurs to Skagway. There is a concerted effort by
the Yukon Government to expand the freight capacity of the Whitehorse International
Airport. This will increase it's position as a regional freight hub as there are already
direct links to Canadian regional cities and Frankfurt, Germany. The Skagway
Development Corporation, City of Skagway, and Yukon Government are working
closely to promote this link which will open new market opportunities and will be a boon
to the fishing industry of northern Southeast Alaska.
Skagway's winter economy continues to expand in leaps and bounds. Employment
figures for winter months October - April) show increases for every month from 2000 to
2005 - up to 22%. This is most likely attributable to the construction industry which is
very busy in the winter meeting the growing demand for retail space in the commercial
district.
For more information regarding the Skagway Economy and business opportunities
that may exist please visit the rest of this site or contact us. Please include your name,
business name, phone, fax, and particular area of interest and we will send you the
relevant information.
As Skagway's summer tourist season strengthens and stabilizes, more people are
finding that Skagway has much to offer in the off season (Oct-Apr). There is a growing
trend today of people seeking balance in their lives. Skagway has the advantage of
providing a strong economy whereby a living can be made while at the same time
there is ample opportunity to spend time with family, friends, participate in recreational
activities, all in a low-stress environment.
The City government is currently negotiating with federal and state agencies to finalize
the conveyance of the remaining 7000 acres of Skagway's entitlement land. The first
930 acres will be conveyed in 2006 with an ensuing land sale in 2007. This will open a
significant amount of quality residential sites, easing the pressure on housing and
stabilizing housing prices.
Within the next few years it is expected that almost 80 acres of prime light industrial,
commercial, and residential land will also be available as the remediation of the old
tank farm is completed. Much of this land has highway frontage and is within 1.5 miles
of downtown.
The expanding public sector is providing diversification and stabilization of the year
round economy. Increasing opportunities on the waterfront, a natural gas pipeline
being discussed at the state level, and expanding transshipment opportunities are
signs that Skagway has a lot of room for growth. Skagway's future is bright and
currently provides opportunities for the continued expansion and well being of the
business community.
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