Alaska, commonly referred to as "The Last Frontier," is the largest state in the U.S. by population, yet the least densely populated. Alaska was purchased from the Russian Empire in March 1867, but was not organized as a territory until 1912. According to the United States Bureau of Land Management, nearly 65% of Alaska is managed and owned by the government as public land, national forests, and national parks.
Anchorage is the most populous city in Alaska and holds more than 40% of the population for the entire state. Geographically, Anchorage is located in the South region of the state at the end of the Cook Inlet. The global location of the city allows for it to be an important part of global network of services such as FedEx. Anchorage is within less than 10 hours by air of 90% of the industrialized world. One of the notable features in Anchorage is the Alaska Center for the Performing Arts. This facility can accommodate over 3,000 people. The Anchorage Concert Association brings several events to the city, including major Broadway Productions. The city has multiple facilities that are able to hold these events in addition to trade shows and conventions. The Sullivan Arena is another noteworthy building in Anchorage.
The largest economic divisions in Anchorage are transportation, military, municipal, state and federal government, and tourism. The city's economy depends heavily on its geographical location as well as the surrounding resources. Alaska is generally less effected than other areas by economic downturns and has experienced a consistent and steady growth in the past. The Ted Stevens Anchorage International Airport is the third-busiest in the world for cargo traffic, following closely behind Memphis and Hong Kong. In Juneau, the economy is largely driven by the government. The tourism industry is another significant contributor to the city, as the cruise industry continues to increase.