Frank Foti, president and CEO of Vigor Industrial, says the Ketchikan Shipyard is "Alaska's newest and best ship-building facility."

He's biased, since his Portland-headquartered company owns Alaska Ship and Drydock. He elaborated during a speech celebrating last spring's opening of a new ship-construction hall.

"After the collapse of the timber economy here, these leaders saw an opportunity for growth and jobs and economic prosperity, while others saw only derelict infrastructure and a dying industry," he said. (Watch a time-lapse video of the hall's construction.)

A new study shows the shipyard is a key contributor to the region, with about 120 employees and $37 million in annual revenues. It's part of Southeast's maritime or "blue" economy. (Click here to read the report.)

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