Anchorage secures $25M for Port of Alaska in state capital budget

The Municipality of Anchorage secured $25 million in state capital funding for the Port of Alaska, a municipal lobbyist told the Anchorage Assembly Legislative Committee on Wednesday.

The state legislature's capital budget included $15 million guaranteed. An additional $10 million triggers if North Slope oil prices remain above $80 per barrel through the first half of fiscal year 2026.

A municipal official said there is a high likelihood the full $25 million will be realized based on current oil prices. The official credited Representative Calvin Schrage (D-Anchorage), who chairs the House Capital Budget Committee, with helping secure the funding. The official also credited Wendy Chamberlain, the municipality's primary state lobbyist, and the Anchorage legislative delegation.

The port handles containerized freight, fuel, and dry bulk cargo for roughly 90 percent of Alaska's population. The Municipality of Anchorage owns the port and regularly requests state capital appropriations to support modernization projects.

The capital and operating budgets had not been transmitted to the governor as of Wednesday morning. Once transmitted, the governor has 20 days to issue line-item vetoes.

The Community Assistance Program, which provides unrestricted funding to municipalities, received a $50 million disbursement in the state budget, up from $20 million the prior year. Anchorage typically receives $4 million or less annually from the program.