Federal awards to Alaska pass $14 billion this fiscal year

Federal money is Alaska's quiet economic engine: $14.08 billion in awards so far this fiscal year — roughly $19,000 for every resident — flowing through 16,688 contracts, grants, direct payments and loans.

The raw total ranks Alaska just 45th of 56 states and territories, and California's haul runs 28 times larger. But volume isn't dependence: federal transfers made up 34.8% of Alaska's government revenue in fiscal 2023, 9 points above the state average, according to USAFacts. Contract spending is growing fastest, University of Alaska Anchorage economist Brett Watson told a Commonwealth North forum, and the Department of Defense is the biggest federal spender in the state.

The money doesn't sit still, either. The USAspending.gov tally — prime awards only, refreshed weekly — stood at $13.81 billion on July 23. By Monday it had grown by roughly $270 million and 358 new awards.