External analysis determines O pportunites and T hreats to the region. Strengths of the Kenai Peninsula Borough economy include its diversity and the entrepreneurial spirit of residents. Though the geographical area is limited, KPB industries include ten industrial categories tracked by the state. Industries include petroleum production, tourism, recreational opportunities, manufacturing, and timber harvest extending to value-added timber products. Service industries include financial, insurance and real estate support, legal and medical services, childcare, residential care, and social activities.
Many resources used in production are renewable, creating long term use through proper management.
Weaknesses may include weather conditions, which with proper planning can be overcome. Location is another issue, yet the Kenai Peninsula Borough is better located for economic growth than much of the state of Alaska. Conditions are suitable for deep-water freight docks, flight services, and adequate roadways for transportation. Technological advances have decreased the need for travel in many instances, and workers no longer are required to live in the vicinity of their employers as tasks can be completed through internet services. The economic course of the Kenai Peninsula Borough will be determined by innovation, wise resource management, and the independent spirit evident in many residents.