OPINION: Let’s invest in ourselves and a better Anchorage

As a longtime Anchorage resident, business owner and mom, I fully support the Project Anchorage initiative recently introduced by a group of residents and business leaders affiliated with Anchorage Economic Development Corp. I own and operate multiple retail stores in Anchorage, including an iconic downtown shop that I co-own with my sibling, catering to both locals and tourists. Like many Anchorage employers, I have struggled to recruit and retain employees. Many great hires move out of state looking for more affordable housing and the allure of cities in the Lower 48. While we have seen banner tourism years in recent history, it has been a daily struggle to staff up and take advantage of this influx of visitors.

With rising rents, mortgages and home prices, Anchorage is facing a housing crisis. I believe Anchorage’s high property taxes contribute to out-of-reach rent and housing costs. This affordability crisis is driving the workforce, including our children and young labor force looking to get started in their careers, to search for more affordable housing out of state. To add to this, Anchorage is facing tough competition in terms of overall quality of life from Lower 48 cities in the Pacific Northwest and even further east.

I believe that the proposed sales tax will help address these issues. Supporting Project Anchorage’s sales tax initiative means capturing visitor spending, making homeownership more affordable and achievable for young people, and bringing back a feeling that our city is a place to be — by improving facilities for families to enjoy year-round and making green spaces more inviting and safe. The proposed sales tax will decrease property taxes by 20%, significantly relieving the financial burden on many households. This reduction would also encourage more young people to stay in and return to Anchorage. I believe this initiative to be essential for retaining our young workforce.

Project Anchorage’s proposal would help fund new public projects and amenities, making life in Anchorage more enjoyable for us and future generations and making locating in Anchorage more attractive to new companies. These new projects would attract significant private investment, boosting our economy. Oklahoma City faced similar economic challenges 30 years ago. Voting to diversify their sources of revenue with new sales taxes, the city attracted billions of dollars in investment. They were able to rebuild their city and improve their quality of life. Similarly, a prospering Anchorage economy, vibrant community and developed public spaces would incentivize young professionals like my own son to stay and work here — something we need to ensure Anchorage flourishes for decades to come.

I am convinced that by investing in ourselves, we can achieve affordable housing, and transform Anchorage into a competitive and desirable place for our families to live. We can retain our current workforce, attract a new one and build a thriving community.

Deborah Bonito is the owner of several small businesses in Anchorage.

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