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The Chugach Census Area in Alaska exhibits a robust economic profile, with an annual GDP of approximately 1.83 billion dollars and an impressive GDP per capita of 261,406 dollars, significantly higher than the state average of 89,408 dollars and the national average of 77,754 dollars. The region has experienced a GDP growth rate of 1% over the last year and a compound annual growth rate (CAGR) of 6.45% over the past 13 years, indicating a strong upward trend. Notably, the service sector dominates the economy, contributing 87.3% to the GDP, while goods-producing industries account for only 5.9%. This contrasts with the broader state economy, where goods-producing sectors contribute 25.2%. Overall, Chugach's economic performance stands out within Alaska, reflecting a unique reliance on services and a high standard of living.
The Chugach Census Area in Alaska exhibits a relatively strong employment landscape, with a 70.4% employment rate for individuals aged 20-64, which is slightly above the state average of 69.3% but below the national average of 73.8%. Notably, the employment rate for those with a Bachelor's degree stands at 78.9%, indicating a solid return on higher education, though it lags behind the national figure of 84.3%. The area shows a commendable high employment rate of 73.8% for high school graduates, surpassing Alaska's average of 64.9%. Additionally, the employment rate for Black residents is notably high at 81.6%, suggesting a positive trend in workforce participation among this demographic. Overall, while Chugach performs well in certain areas, it still faces challenges in matching national benchmarks, particularly for degree holders.
The Chugach Census Area in Alaska exhibits a mean household income of $83,068 and a median household income of $103,289, which are both below the state averages of $86,370 and $110,602, respectively. However, the income per capita at $44,700 is relatively competitive within the region. Notably, only 9.1% of households earn over $200,000, and a mere 5.4% fall below $20,000, indicating a lower income disparity compared to the national Gini index of 0.4829 and Alaska's 0.4304. This suggests a more equitable income distribution in Chugach compared to other counties in Alaska, such as the Kenai Peninsula Borough, which has a higher percentage of low-income households. Overall, while Chugach's income levels are modest, its lower income inequality may contribute to a more stable economic environment.