For Immediate Release: September 3, 2013
Oil Industry Jobs Reach Historic Highs under ACES
ANCHORAGE – The number of jobs in Alaska’s oil patch reached its highest level in state history during July, the last month in which the ACES tax system was fully in effect.
Job levels rose steadily under ACES from 11,600 in July 2007 to 12,800 in July 2009 to 13,400 in July 2011, peaking this July at 14,700, according to preliminary numbers from the Alaska Department of Labor.
“It’s great to see so much North Slope employment,” said Senator Bill Wielechowski (D-Anchorage). “This is what ACES was designed to do—encourage more investment in Alaska and more jobs for Alaskans. But it’s unfortunate that just as employment hit record highs, ACES is being replaced by Senate Bill 21, which does not have the same incentives for investing in Alaska.”
ACES encouraged investment by offering tax credits and lower tax rates to companies who invest their profits back into Alaska. Senate Bill 21 lacks these incentives. These incentives will disappear completely in January.
“The Governor claimed ACES was driving jobs to other states. But his own Department of Labor has the facts to prove otherwise,” Senator Wielechowski added. “ACES created a record number of jobs. The facts are clear for all to see.”
Wielechowski encouraged Alaskans to visit the Department of Labor website at http://tinyurl.com/ktaafum to see for themselves. This is one more reason he believes SB 21 should be repealed by the voters next August.
For more information, call 242-1558 or 321-1944.