Reason #5: State Capital Projects Created 148,000 Alaskan Jobs under ACES

State Capital Projects Created 148,000 Alaskan Jobs under ACES

An estimated 148,000 private sector jobs have been created from state investment in critical infrastructure projects since the passage of ACES in 2007, according to a newly released report from the non-partisan Legislative Research Services.  For the most part, these are construction jobs that last for the duration of the capital works project. 

 
ACES, which is short for Alaska’s Clear and Equitable Share, has enabled the state to invest in new roads, schools, and harbors, pay off debts and save for the future. The state collected $20 billion more under ACES than it would have under ELF, a former oil tax system. This has led to record levels of job creation.

Supporters of Senate Bill 21, the Oil Tax Giveaway, paint ACES as bad for the economy. This report demonstrates those claims are absolutely false. With our fair share of oil profits, we have invested in critical infrastructure across the state, laying a strong foundation for economic growth and creating nearly 150,000 jobs.

University of Alaska economist Dr. Scott Goldsmith provided the economic multipliers used in the report, which details the close relationship between public infrastructure projects and job creation.

Creating jobs for Alaskans and spurring long-term economic growth should be a top priority for all elected officials. ACES achieved both these goals in impressive fashion, which makes the passage of Senate Bill 21 this past session even more puzzling. Fortunately Alaskans will have the opportunity to dismantle this misguided policy next fall with the repeal of SB 21.