As the regional service and supply center for the Alaska Interior, Fairbanks offers a diverse economy, including city, borough, state, and federal government services; and transportation, communication, manufacturing, financial, and regional medical services.

Tourism and mining also comprise a significant part of the economy. Including Eielson Air Force Base and Fort Wainwright personnel, over one third of the employment is in government services. The University of Alaska Fairbanks is also a major employer.

Approximately 325,000 tourists visit Fairbanks each summer. The Fort Knox hardrock gold mine produces 1,200 ounces daily with 360 permanent year-round employees. 126 city residents hold commercial fishing permits.

Fairbanks enters the next century it faces many choices ” to continue to harvest commodity natural resources with prices set globally and to redirect our capital to invest in the innovative power of people of Alaska.

FEDC believes that the synergy of pursuing both options at the same time is a key strategy for Alaskan economic development. Natural Resources will always be an important factor of economic growth for the Interior Alaska, however, a focus on research and technology will help to make this growth sustainable.