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Kodiak Island Borough, Alaska, has an annual GDP of approximately 921.6 million dollars, with a GDP per capita of 70,541 dollars. The region experienced a GDP growth rate of 3.2% in the last year, contrasting with a negative growth trend over the past 13 years, averaging -0.74%. The goods-producing sector contributes 27.1% to the GDP, while services account for 44.4%, and government activities contribute 28.5%. Compared to the state of Alaska, which has a GDP of 65.7 billion dollars and a per capita GDP of 89,408 dollars, Kodiak Island's economy is smaller but shows a more favorable recent growth rate. In comparison to other counties in Alaska, Kodiak Island's growth rate is notably higher than that of Anchorage Municipality and Fairbanks North Star Borough, which both faced declines, indicating a potential resilience in Kodiak's economic activities.
Kodiak Island Borough, AK, exhibits a relatively strong employment landscape, with a 69.4% employment rate for individuals aged 20-64, slightly above the state average of 69.3% but below the national average of 73.8%. The borough's employment rate for those with a Bachelor's degree stands at 80.7%, aligning closely with Alaska's 80% and indicating a well-educated workforce. Notably, the high school graduate employment rate is 71.6%, surpassing Alaska's 64.9%. Female employment is particularly robust at 77.2%, higher than both the state (68.9%) and national (70%) figures. However, the employment rate for Black residents is notably low at 20.8%, suggesting potential disparities that may need addressing. Overall, Kodiak Island Borough demonstrates a solid employment profile, particularly among women and graduates, while highlighting areas for improvement in racial equity.
Kodiak Island Borough, AK, exhibits a mean household income of $91,138 and a median household income of $106,803, positioning it favorably compared to both national ($75,149 mean) and state averages ($86,370 mean). The region's income per capita stands at $39,563, slightly below the state average of $42,828, indicating a more concentrated wealth distribution. Notably, 15.7% of households earn over $200,000, significantly higher than the national average of 9.9% and the state average of 11.5%. Additionally, only 8.3% of households earn less than $20,000, reflecting a relatively lower level of poverty compared to the national (12.1%) and state (9.5%) figures. Overall, Kodiak Island Borough demonstrates a robust economic profile, characterized by higher income levels and lower poverty rates relative to broader benchmarks.