The state had 15,631 businesses in 1996, according to the results from the 1997 Small Business Profile, compiled by the U.S. Small Business Administration's Office of Advocacy. Of the 15,631, 97.1 percent were small businesses. Between 1992 and 1996, small businesses created 23,235 of the 42,743 net new jobs. Based on data from the Bureau of the Census, there have also been large increases in other minority-owned businesses. 8 Economic Base Alaska's traditional industries include petroleum, fishing, tourism, forest products, and mining.
Oil remains the staple industry in Alaska.
Total U.S. oil reserves in 1997 consisted of 31 percent Alaskan oil reserves, from which 7.5 billion barrels of oil are produced annually. 10 Alaska also provides about one-fifth of total U.S. gas reserves, producing 34.4 trillion cubic feet of gas each year. The seafood processing and fishing industries are also important to Alaska. Alaska is the world's largest producer of wild salmon and has the richest source of bottom-fish in the world. The fishing and seafood industry is the state's largest private industry employer.