Alaska Breaks Ground on New Cold Chain Logistics Hub
What happened
Alaska Cargo & Cold Storage has broken ground on the first phase of a new logistics campus at Ted Stevens Anchorage International Airport. The initial phase will create 100,000 square feet of temperature-controlled and dry cargo storage at one of the world's busiest cargo airports.
Why it matters
- The new facility is part of a larger plan to develop up to 700,000 square feet of climate-controlled warehouse space, transforming the airport from a refueling stop to a global logistics hub. - Ted Stevens Anchorage International Airport is a critical node in the global supply chain, ranking as the fourth-busiest cargo airport in the world and second-busiest in the United States. Its location is within a 9.5-hour flight of 90% of the industrialized world. - The project is a joint venture between McKinley Capital Management, an Alaska-based investment firm led by Rob Gillam, and industrialist Chad Brownstein, founder of Rocky Mountain Resources. - To support its development, the project was awarded a $21 million Better Utilizing Investments to Leverage Development (BUILD) grant from the U.S. Department of Transportation. - Construction of the first phase is projected to create 830 jobs with $56.9 million in labor income. Once fully operational, the entire two-phase project is estimated to generate an annual economic output of $58.7 million. - The facility is being built on the airport's last undeveloped site under a 55-year lease with the State of Alaska and is located within a Foreign Trade Zone, which provides special customs procedures and other efficiencies. - Historically, a lack of storage has made Anchorage a "gas-and-go" hub for cargo planes. This facility will enable the transfer and storage of perishable goods, such as Alaska's seafood, pharmaceuticals, and other time-sensitive products.
Key numbers
- The initial phase will create 100,000 square feet of temperature-controlled and dry cargo storage at one of the world's busiest cargo airports.
- - The new facility is part of a larger plan to develop up to 700,000 square feet of climate-controlled warehouse space, transforming the airport from a refueling stop to a global logistics hub.
- Its location is within a 9.5-hour flight of 90% of the industrialized world.
- To support its development, the project was awarded a $21 million Better Utilizing Investments to Leverage Development (BUILD) grant from the U.S.
What happens next
- The new facility is part of a larger plan to develop up to 700,000 square feet of climate-controlled warehouse space, transforming the airport from a refueling stop to a global logistics hub.
- This facility will enable the transfer and storage of perishable goods, such as Alaska's seafood, pharmaceuticals, and other time-sensitive products.
- The initial phase will create 100,000 square feet of temperature-controlled and dry cargo storage at one of the world's busiest cargo airports.
Quick answers
What happened in Alaska Breaks Ground on New Cold Chain Logistics Hub?
Alaska Cargo & Cold Storage has broken ground on the first phase of a new logistics campus at Ted Stevens Anchorage International Airport. The initial phase will create 100,000 square feet of temperature-controlled and dry cargo storage at one of the world's busiest cargo airports.
Why does Alaska Breaks Ground on New Cold Chain Logistics Hub matter?
The new facility is part of a larger plan to develop up to 700,000 square feet of climate-controlled warehouse space, transforming the airport from a refueling stop to a global logistics hub. Ted Stevens Anchorage International Airport is a critical node in the global supply chain, ranking as the fourth-busiest cargo airport in the world and second-busiest in the United States. Its location is within a 9.5-hour flight of 90% of the industrialized world. The project is a joint venture between McKinley Capital Management, an Alaska-based investment firm led by Rob Gillam, and industrialist Chad Brownstein, founder of Rocky Mountain Resources. To support its development, the project was awarded a $21 million Better Utilizing Investments to Leverage Development (BUILD) grant from the U.S. Department of Transportation. Construction of the first phase is projected to create 830 jobs with $56.9 million in labor income. Once fully operational, the entire two-phase project is estimated to generate an annual economic output of $58.7 million. The facility is being built on the airport's last undeveloped site under a 55-year lease with the State of Alaska and is located within a Foreign Trade Zone, which provides special customs procedures and other efficiencies. Historically, a lack of storage has made Anchorage a "gas-and-go" hub for cargo planes. This facility will enable the transfer and storage of perishable goods, such as Alaska's seafood, pharmaceuticals, and other time-sensitive products.
