FHA Loans in Alaska
About This State and its People, Places, and Industries
Alaska is the largest state of the United States by area; it is situated in the northwest extremity of the North American continent, with Canada to the east, the Arctic Ocean to the north, and the Pacific Ocean to the west and south, with Russia further west across the Bering Strait. Approximately half of Alaska's 698,473 residents live within the Anchorage metropolitan area. As of 2009, Alaska remains the least densely populated state of the U.S.Alaska was purchased from the Russian Empire on March 30, 1867, for $7.2 million at about two cents per acre ($4.74/km²). The land went through several administrative changes before becoming an organized territory on May 11, 1912, and the 49th state of the U.S. on January 3, 1959.
The name "Alaska" (Аляска) was already introduced in the Russian colonial time, when it was used only for the peninsula and is derived from the Aleut alaxsxaq, meaning "the mainland" or more literally, "the object towards which the action of the sea is directed". It is also known as Alyeska, the "great land", an Aleut word derived from the same root.
The United States Census Bureau, as of July 1, 2008, estimated Alaska's population at 686,293, which represents an increase of 59,361, or 9.5%, since the last census in 2000. This includes a natural increase since the last census of 60,994 people (that is 86,062 births minus 25,068 deaths) and a decrease due to net migration of 5,469 people out of the state.[23] Immigration from outside the U.S. resulted in a net increase of 4,418 people, and migration within the country produced a net loss of 9,887 people.
In 2000 Alaska ranked the 48th state by population, ahead of Vermont and Wyoming (and Washington D.C.) Alaska is the least densely populated state, and one of the most sparsely populated areas in the world, at 1.0 person per square mile (0.42/km²), with the next state, Wyoming, at 5.1 per square mile (1.97/km²). Alaska is the largest U.S. state by area, and the sixth wealthiest (per capita income). As of January 2010, the state's unemployment rate is 8.5%.
The 2007 gross state product was $44.9 billion, 45th in the nation. Its per capita personal income for 2007 was $40,042, ranking 15th in the nation. The oil and gas industry dominates the Alaskan economy, with more than 80% of the state's revenues derived from petroleum extraction. Alaska's main export product (excluding oil and natural gas) is seafood, primarily salmon, cod, Pollock and crab.
Agriculture represents only a fraction of the Alaskan economy. Agricultural production is primarily for consumption within the state and includes nursery stock, dairy products, vegetables, and livestock. Manufacturing is limited, with most foodstuffs and general goods imported from elsewhere.
Employment is primarily in government and industries such as natural resource extraction, shipping, and transportation. Military bases are a significant component of the economy in both Fairbanks and Anchorage. Federal subsidies are also an important part of the economy, allowing the state to keep taxes low. Its industrial outputs are crude petroleum, natural gas, coal, gold, precious metals, zinc and other mining, seafood processing, timber and wood products. There is also a growing service and tourism sector. Tourists have contributed to the economy by supporting local lodging.
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