The Port was completed by the early 1960s. The Good Friday earthquake in 1964 destroyed a large part of the city. Economy and Transportation Anchorage is the center of commerce for the state. Oil and gas industries, finance and real estate, transportation, communications, and government agencies are headquartered in Anchorage. Numerous visitor and tourist facilities and services are available.
Seasonal factors contribute to a fluctuating, though low, unemployment rate.
903 residents hold commercial fishing permits. The fishing industry is not serviced from Anchorage, however. Most permit-owners fish elsewhere, such as in Bristol Bay, Kodiak or Cordova. Controlled airports include the State-owned Anchorage International Airport and Lake Hood Float Plane Base, the Municipality's Merrill Field, and U.S. Army and Air Force facilities. Several barge and trucking companies are available.