Alaska Industrial Development and Export Authority (AIDEA) just completed a $50 million dollar blood bank in Anchorage, which is said to have created more than 20 new jobs and over $3.5 million in new income for the Anchorage area.

AIDEA is based on promoting, developing and advancing economic growth in Alaska by providing financing guarantees for exports of Alaska goods. AIDEA provides financing and business assistance for industrial, manufacturing and energy facilities, infrastructure, equipment within the state and commercial real estate projects. There are six developing projects that AIDEA is currently funding for economic growth in Alaska, consisting of the DeLong Mountain Transportation System (DMTS), Skagway Ore Terminal, Ketchikan Shipyard, Federal Express Aircraft Maintenance Facility, Cook Inlet Jack-Up Rig and the Snettisham Hydroelectric Project.

The DMTS, established in 1989, supports the development of the Red Dog Mine in northwest Alaska. The DMTS is one of the world’s largest producing zinc mines. AIDEA is continuing to fund the DMTS in order to provide more production of zinc and to continue economic growth in Alaska. AIDEA is providing funding for maintenance to the ship loader and dock cathodic protection system. The Skagway Ore Terminal is currently being funded in order to put in a new storage facility at the terminal to expand upon current mining opportunities and to expand business to northwestern Canada and the eastern interior of Alaska. AIDEA recently approved the construction of an outfitting building at the Ketchikan Shipyard to assist with the ferry module construction, and has signed onto another 10-year extension on the Agreement for the Operation and Use of the Ketchikan Shipyard.

As of October 2015, AIDEA has begun several maintenance and refurbishment projects on the Fed Ex Aircraft Maintenance Facility. They are currently beginning work to rebuild the pump drives for the fire diesel engines, and will repair/replace aging fabric door to ensure reliability and a back-up system. AIDEA is currently working on issuing refunding bonds for the Snettisham Hydroelectric Project, located in Juneau. The Snettisham Hydroelectric Project has two hydroelectric generating stations that provide reliable and lowcost power to Juneau residents and businesses.

AIDEA is currently facilitating more projects in order to expand upon Alaska’s economic growth within the industrial, energy and infrastructure markets. AIDEA has paid more than $345 million in dividends to the state, along with employing more than 750 people annually; employment is expected to see continued growth as AIDEA brings on additional projects.

 

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