Administrative Agency:

Public Corporation of the State: Department of Commerce, Community and Economic Development (DCCED), Alaska Industrial Development and Export Authority (AIDEA)

Program Goals:

AIDEA has the ability to develop, own, and operate projects necessary to support Alaskan economic development.

Resource Provided:

Projects are financed through the sale of bonds, from income or receipts, or from other assets of the authority. Bonds issued may be an obligation of AIDEA or secured by the assets and revenues of the project and the private sector user. The project and its development must be economically advantageous to the state and public welfare, must contribute to economic growth, and be economically and financially able to produce revenue to repay the amount financed. While AIDEA owns the projects, the private sector user generally operates them and revenue from the project is used to repay AIDEA's investment. The project and its development must be economically advantageous to the state and public welfare, must contribute to economic growth, and be economically and financially able to produce revenue to repay the amount financed.

Eligibility:

Financially feasible business projects located in Alaska that are endorsed by the local government where the project will be sited are eligible. Projects requiring bond financing from AIDEA must also receive authorization from the Alaska Legislature. Manufacturing facilities, roads, ports, airports, infrastructure for tourism destination facilities, and other public use facilities essential for regional economic well-being are considered eligible projects.

Alaska Program Status:

AIDEA currently has ownership of six (6) projects: 1. DeLong Mountain Transportation System (road and port serving the Red Dog Mine near Kotzebue) 2. Skagway Ore Terminal 3. Ketchikan Shipyard 4. Federal Express Aircraft Maintenance Facility 5. Snettisham Hydroelectric Project 6. Healy Clean Coal Project. The program originated in 1986 and AIDEA continues to assess the economic benefit and feasibility of Alaskan projects.

Program Contact:  (Primary Contact listed first.)

Ted Leonard, Executive Director
Alaska Industrial Development and Export Authority (AIDEA)
813 W. Northern Lights Blvd.
Anchorage, AK 99503
Phone: (907) 771-3000
Fax: (907) 771-3044
e-mail: tleonard@aidea.org
Web site: http://www.aidea.org/programdevfin.html

Brenda Fuglestad
Alaska Industrial Development and Export Authority (AIDEA)
813 W. Northern Lights Blvd.
Anchorage, AK 99503
Phone: (907) 771-3008
Fax: (907) 771-3044
e-mail: bfuglestad@aidea.org

James Hemsath, Deputy Director
Alaska Industrial Development and Export Authority (AIDEA)
813 W. Northern Lights Blvd.
Anchorage, AK 99503
Phone: (907) 771-3040
Fax: (907) 771-3044
e-mail: jhemsath@aidea.org