Peonies are grown and harvested as a marketable cut flower worldwide. They are commercially available throughout the seasons, except for July and August. However, this is a time when they bloom in Fairbanks, Alaska. This paper examines the potential of developing peonies as a cut flower industry in this region. Specific considerations of production and transportation and the feasibility of such a venture are addressed. Methods include interviews with persons involved in the industry as well as extensive Internet research. A cost analysis table was constructed to consider potential profitability. Developing peonies as a cut flower industry in Fairbanks, Alaska is promising. However, this study serves as only a guide. Potential growers need to conduct their own research and adapt these results to their own individual circumstances.