Economy of Homer
Homer’s People have inhabited Kachemak Bay for thousands of years, drawn to its abundant, diverse land and marine animals and relatively mild climate. In the 1800s, homesteaders and coal miners made up the area’s population and Homer became a booming ‘company town until the demand for coal diminished in the early 1900s.
Some years later, the commercial harvest and processing of fish became the mainstay of the local economy, and lead the growth of Homer into the commercial and transportation hub of the Southern Kenai Peninsula. Today, Homer’s economy relies on commercial fishing and the growing tourism industry.
Homer is primarily a fishing, fish processing, trade and service center, and enjoys a considerable seasonal tourist industry. Approximately 10 cruise ships dock in Homer each summer. During summer months, the population swells with students and others seeking cannery or fishery employment. Sport fishing for halibut and salmon contributes significantly to the economy.
520 area residents hold commercial fishing permits. The fish dock is equipped with cold storage facilities, ice manufacturing and a vacuum fish-loading system. A sawmill processes borough timber, and Circle De Pacific Corp. is exporting wood chips from Homer to Japan. Plans for a multi-million dollar U.S. Fish & Wildlife Visitors Center for the Alaska Maritime National Wildlife Refuge are underway.