Pearson said she has only been on the job for two years, but she has noticed that property values, especially for homes, have risen substantially since 2001.

Military money helps it happen

The U.S. Missile Defense Agency's Ground Based Mid-Course Defense system, or GMD, is spinning off millions of dollars into the local economy, said Charlie Walker, president and CEO of the Fairbanks Economic Development Corporation.

Also, he noted, the Army's new Stryker infantry brigade being stationed at Fort Wainwright is bringing an economic boost with at least 1,200 additional troops and their families moving into town.

But the Stryker units are designed to move out as fast as they move in.

"Our troops (in Alaska) haven't traditionally deployed to a lot of places for the last 20 years," said Maj. Ben Danner with the Army's public affairs office at Fort Richardson.

"But given the world situation, and the nature of the Stryker brigade, there will be many more deployments," he said.

Maj. Danner said the brigade in Fairbanks will likely be sent somewhere in the world sometime after May of 2005.

"Thirty-three hundred soldiers will be leaving. Some family members may be leaving too, depending on how long the deployment is," he said. "So that will have as great of an economic impact as added personnel who are coming in."

The FEDC's Walker said the real challenge for Fairbanks is attracting other, long-term investments that will help sustain the economy.

"We've narrowed our focus on target industries for 2004," he said. "(They include) cold-climate independent test labs, testing of products and vehicles and machinery."

FEDC and the Fairbanks North Star Borough economic development office are also planning to open a cold-climate housing research center in 2005.

"We are going to be promoting technology using companies who are able to use our university resources, things like developing fiber optics and global logistic warehouses." he said.

Walker said FEDC is working with the state to develop a prospectus on investment opportunities in forest products.

The city is hoping to benefit from the borough's abundant timber resources, he said.

"Cut the trees, ship them into Fairbanks and make high-quality furniture or something like that."

FEDC is conducting a direct-mail campaign to entice prospective companies to consider doing business in Fairbanks, Walker said.

"We're tweaking our marketing efforts to promote the imagination and innovation of Interior Alaska. Satellite tracking companies are also on our target list," he noted.

Meet me up north

Jennifer Jolis, meetings and convention manager with the Fairbanks Convention and Visitors Bureau, is delighted with the way things are shaping up.

"The economy is coming back," she asserted. "We're booked out as far as 2007, and the 2004-2005 seasons look very good."

She said Fairbanks will host a steady stream of conventions and events this year, including some large meetings that annually rotate throughout Alaska, such as the Alaska Municipal League and the Alaska State Literacy Conference.

The conventions slated for this year by the FCVB will generate $8 million to $10 million of economic impact for Fairbanks, and events hosted by other entities such as the University of Alaska and private companies will bring a similar amount of revenue into the stream, Jolis said.

Also on the FCVB calendar this year, the Extreme North Archery Tournament in March, with 350 visitors expected, and a "Contaminants in Frozen Ground" conference with 200 attendees.

And, the Interior city was selected for Governor Frank Murkowski's "Conference of Alaskans" to be held Feb. 10-12 at the UAF campus.

The governor named a panel to select 44 delegates to be chosen from hundreds of statewide nominees for the gathering. The delegates are to advise the governor on issues and options concerning the Alaska Permanent Fund.

Jolis said she is looking forward to 2005, when Fairbanks will be the site of the national Pee Wee ice hockey tournament and more than 1,000 people will visit over the course of a week.

"We target those things dealing with the north," she said. "Fairbanks is coming into its own and being recognized as an advanced on-the-edge destination."

Sub-Arctic hospitality

Conventioneers, corporate clients and casual tourists have a new place to stay in Fairbanks.

The Fairbanks Westmark Hotel is preparing to open a new, $34 million eight-story tower expansion at its existing location downtown May 1, said the hotel's general manager, Bob Harmon.

"We'll have a grand opening May 11," Harmon told the Journal.

The new structure has 176 standard rooms, 86 executive suites, and a "super suite" in the penthouse, he said.

"We call it the 'Bear and Seal' suite," he said. "It has over 900 square feet of space, two big-screen plasma TVs, an ultra-deluxe bathroom with heated towel bars and a TV. The bath has 24 showerheads."

In case you were wondering, it goes for $500 per night.

During the off-season from September to May the hotel's target clientele is corporate executives and tourists, Harmon said, and in summer, the bookings are no problem.

"We're owned by Holland America, so we are self-fed by the cruise ship industry," he said.

Rumor Lady

Some people call her a rumormonger, and she doesn't mind it.

Janet Davison said her official title is Documentation Coordinator II with the Fairbanks North Star Borough Community Research Center, and a big part of her job is to keep an eye on local business developments for the borough.

She publishes a regular executive mailing list with this disclaimer at the top of the page:

"Note: The RUMORS contained below are exactly that - 'rumors' - do not take this information for gospel. You are encouraged to verify every rumor."

The list rates the unofficial information as either "G" for a business gain, "L" for a business lost, or "?" for unknown.

When asked if she considers herself a snoop, Davison did not disavow it.

"It's true," she acknowledged. "What I do is just track this stuff to see the community comings and goings. It helps orient economic development."

She said she gets her information from a variety of sources.

"Whether it's newspaper articles, or if someone said something to me, or just going out and looking around. A lot of information comes from the building and zoning permits," she said.

Those permits and other statistics put the growth of Fairbanks into perspective.

"When you look at the overall numbers for new single-family and multi-family dwellings, and compare them to a year ago they are up significantly ... about 5 percent," Davison said.