Petersburg Borough, Alaska: Market Research Report

Background

Overview

Petersburg Borough, established on January 3, 2013, is located in Southeast Alaska. It encompasses approximately 3,829 square miles, including Mitkof Island, Kupreanof Island, and adjacent mainland areas. The borough's seat is the city of Petersburg, which had a population of 3,043 as of the 2020 census.

Mission and Vision

As a borough, Petersburg's mission is to provide essential services to its residents, including utilities, public safety, and community development. The vision focuses on fostering a sustainable and vibrant community that honors its rich cultural heritage while embracing economic growth and environmental stewardship.

Primary Area of Focus

The borough's primary focus areas include:

Community Development: Enhancing infrastructure, housing, and public amenities to improve residents' quality of life.

Economic Growth: Supporting local industries, particularly commercial fishing and tourism, to bolster the economy.

Environmental Stewardship: Preserving the natural environment through sustainable practices and conservation efforts.

Industry Significance

Petersburg Borough plays a crucial role in Alaska's economy, particularly in the commercial fishing sector. The city of Petersburg is among the top fishing ports in the United States by volume, contributing significantly to the state's seafood industry.

Key Strategic Focus

Core Objectives

Housing Development: Addressing the housing shortage by promoting the construction of affordable and diverse housing options.

Economic Diversification: Expanding beyond traditional industries to include sectors like tourism and renewable energy.

Infrastructure Improvement: Upgrading transportation, utilities, and digital connectivity to support community needs.

Specific Areas of Specialization

Commercial Fishing: Enhancing the sustainability and profitability of the fishing industry.

Tourism: Developing attractions and services to draw visitors while preserving local culture.

Renewable Energy: Investing in hydroelectric and other renewable energy sources to reduce dependence on imported fuels.

Key Technologies Utilized

Hydroelectric Power: Utilizing Tyee Lake and Crystal Lake hydroelectric plants to generate sustainable energy.

Digital Infrastructure: Implementing broadband initiatives to improve connectivity for residents and businesses.

Primary Markets or Conditions Targeted

Local Residents: Ensuring access to affordable housing and essential services.

Commercial Fishermen: Providing support and infrastructure to maintain a robust fishing industry.

Tourists: Attracting visitors seeking authentic Alaskan experiences.

Financials and Funding

Funding History

Petersburg Borough's funding primarily comes from local taxes, state and federal grants, and revenue from utilities and services. Specific details on total funds raised and recent funding rounds are not publicly disclosed.

Notable Investors

As a governmental entity, the borough does not have investors in the traditional sense. However, it receives financial support from state and federal agencies, as well as revenue generated from local services.

Intended Utilization of Capital

Infrastructure Projects: Developing and maintaining roads, utilities, and public facilities.

Housing Initiatives: Funding programs like the Permit-Ready Accessory Dwelling Unit (PRADU) to alleviate housing shortages.

Economic Development: Investing in programs to support local businesses and attract new industries.

Pipeline Development

Key Pipeline Candidates

The borough is focusing on several initiatives to enhance community development:

PRADU Program: Offering pre-approved designs for accessory dwelling units to encourage housing development.

Tourism Management Plan: Implementing strategies to balance tourism growth with community well-being.

Stages of Development

PRADU Program: Designs have been completed and are available to residents for implementation.

Tourism Management Plan: Adopted by the borough assembly and in the process of being integrated into community planning.

Target Conditions

Housing: Addressing the need for additional housing units to accommodate population growth.

Tourism: Managing the impact of increasing visitor numbers on local resources and infrastructure.

Relevant Timelines

PRADU Program: Ongoing, with designs available for immediate use.

Tourism Management Plan: Implementation is underway, with periodic reviews to assess effectiveness.

Technological Platform and Innovation

Proprietary Technologies

Hydroelectric Facilities: Tyee Lake and Crystal Lake plants provide renewable energy to the community.

Significant Scientific Methods

Community Surveys: Utilizing data collection to inform housing and development strategies.

Environmental Assessments: Conducting studies to ensure sustainable development practices.

Leadership Team

Key Executive Profiles

Steve Giesbrecht: Borough Manager since October 2011. Holds a Bachelor of Arts in Management and a Master's in Global Management. Previously served as City Administrator in Texas.

Liz Cabrera: Community and Economic Development Director. Oversees housing initiatives and economic development programs.

Key Contributions

Steve Giesbrecht: Implemented strategic planning for community development and infrastructure improvements.

Liz Cabrera: Launched the PRADU program to address housing shortages and supports local business growth.

Competitor Profile

Market Insights and Dynamics

Petersburg Borough operates in a competitive environment with neighboring communities like Wrangell and Juneau. The region's economy is influenced by global seafood markets and tourism trends.

Competitor Analysis

Wrangell: Focuses on timber and tourism, with a population of approximately 2,127 as of 2020.

Juneau: The state capital with a diverse economy, including government services, tourism, and resource extraction.

Strategic Collaborations and Partnerships

Southeast Alaska Power Agency (SEAPA): Collaborates with Wrangell and Ketchikan to manage hydroelectric power generation.

University of Alaska Fairbanks Marine Advisory Program: Provides technical assistance to the maritime community.

Operational Insights

Petersburg's strategic location and strong community ties provide a competitive advantage in attracting residents and businesses. The borough's focus on sustainable development and cultural heritage enhances its appeal.

Strategic Opportunities and Future Directions

Strategic Roadmap

Housing Development: Expand the PRADU program and explore new housing projects to meet demand.

Economic Diversification: Invest in renewable energy and technology sectors to create new employment opportunities.

Infrastructure Enhancement: Upgrade transportation and digital infrastructure to support growth.

Future Business Directions

Tourism Expansion: Develop attractions that highlight the borough's natural beauty and cultural heritage.

Environmental Initiatives: Implement programs to protect local ecosystems and promote sustainability.

Opportunities for Expansion

Renewable Energy Projects: Leverage hydroelectric potential to become a regional energy hub.

Cultural Tourism: Capitalize on the "Little Norway" heritage to attract visitors seeking unique experiences.

Positioning for Future Objectives

Petersburg's commitment to community development, economic diversification, and environmental stewardship positions it well to achieve its future goals.