Juneau -- Faced with an enormous budget shortfall and the challenge of crafting a long-term balanced budget solution for Alaska, Governor Tony Knowles, Senate President Drue Pearce, and House Speaker Brian Porter are hosting the "State of the Economy" Forum February 9, 1999 at Centennial Hall in Juneau.

The day-long "State of the Economy" Forum was conceived to provide the factual basis state leaders will need to develop a plan to put Alaska back on a firm financial footing.

Alaska business leaders will provide an overview of all sectors of the state's economy and U.S. Senator Ted Stevens, via video conference from Washington D.C., will join the forum in the afternoon. Senator Stevens will discuss his expectations for the federal government's role in Alaska's economy.

"Alaska's $1 billion budget gap is the greatest threat to our continued economic health, and to Alaska jobs and families," Knowles said. "This forum will provide important information about the state of Alaska's economy that is needed as lawmakers and I review the options and opportunities available to us to craft a long-term, sustainable, balanced budget."

Senate President Drue Pearce said legislative sessions and committee meetings have been canceled February 9th so that all legislators will have the opportunity to attend.

"We often hear about the effect oil prices have on our state budget and Alaska jobs," Senator Pearce said. "What we seldom hear is how other sectors of Alaska's economy are doing. It's my hope we'll gain a better understanding of Alaska's economic diversity, different sector problem areas and bright spots. Armed with this information, we can make informed decisions to ensure long-term economic stability and jobs for Alaskans."

The forum will have four main objectives:

• Gain a clearer picture of the state's overall economic forecast with overviews presented by the Departments of Labor, Commerce and Economic Development, and Revenue;
• Gain a clearer economic picture of various Alaska industries by having the industries present a forecast for the next 18-36 months;
• Alert and educate the public about the State's fiscal picture; and
• Seek industry support in educating the public about the State's fiscal and economic situation.

"We are pleased with the caliber of experts who will speak on behalf of their industry sectors," said Representative Brian Porter. "I'm sure we will all come away with a better understanding of just where Alaska's various industries stand today and what their economic forecasts are in the coming years," Porter said.

Gavel-to-Gavel Alaska will air two-hour delayed television broadcasts of the forum from the following channels:

Anchorage, GCI Channel 46 Barrow, Cable TV 55 Bethel, GCI Cable 35 Cordova, GCI Cable 40 Craig, Cable TV 35 Dutch Harbor, Eyecom 38 Eagle River, GCI Cable 46 Fairbanks, GCI Cable 19 Homer, GCI Cable 3 Juneau, GCI Cable 4 Kachemak, GCI Cable 3 Kenai, GCI Cable 19 Ketchikan, GCI Cable 52 Kodiak, GCI Cable 8

Kotzebue, GCI Cable 20 Nome, GCI Cable 11 North Pole, GCI Cable 19 Palmer, Rogers Cablevision 6 Petersburg, GCI Cable 6 Ridgeway, GCI Cable 19 Seward, GCI Cable 22 Sitka, GCI Cable 51 Soldotna, GCI Cable 19 Unalaska, Eyecom 38 Valdez, GCI Cable 98 Wasilla, Rogers Cablevision 6 WrangellGCI Cable 6

The Alaska Public Radio Network will broadcast the program live, via satellite, to public radio stations statewide. To find out if the forum will be broadcast in your community, contact your local public radio station.