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Alaska Industrial Development and Export Authority

Learn about AIDEA's purpose, mission, and strategic vision to promote economic growth through financing projects and initiatives in Alaska. Discover the Development Finance Program and key projects supported by AIDEA.

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Alaska Industrial Development and Export Authority

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  1. Alaska Industrial Development and Export Authority Investing in Alaskans Alaska International Air Cargo Summit James Hemsath P.E., PMP Deputy Director – Business Development 23 August 2010

  2. Who invited the banker?

  3. Don’t worry he’s from the government And he’s here to help!

  4. AIDEA’s Purpose “… it is the policy of the state to encourage the economic growth of the state, including the development of its natural resources, through the establishment and expansion of manufacturing, industrial, export, small business, and business enterprises by creating the Alaska Industrial Development and Export Authority (AS 44.88.10) “ … is to promote, develop, and advance the general prosperity and economic welfare of the people of Alaska, to relieve problems of unemployment, and to create additional employment by owning and operating enterprises and other facilities …” (AS 44.88.070)

  5. Our Mission The mission of the Alaska Industrial Development and Export Authority is to promote, develop and advance economic growth and diversification in Alaska by providing various means of financing and investment

  6. Strategic Vision and Initiatives Be an active partner with Alaskans and a dynamic resource in Statewide economic development. Diversify and grow assets to support economic development Improve existing programs and add new economic development tools Expand the deployment and impact of economic development financing

  7. Development Finance Program • Objective: To finance Alaska economic development projects. • AIDEA owns the project and is repaid through user fees, lease payments and other revenue sources. • AIDEA-owned projects provide over 735 direct jobs to the communities in which the projects are located.

  8. Development Finance Program Has the ability to acquire: • An interest in a project as necessary or appropriate to provide financing for the project • Manage and operate projects as the Authority considers necessary or appropriate to serve a public purpose • Equip, operate, maintain, construct, or install facilities that will enhance the competitiveness of the international airports (AS 44.88.080)

  9. Development Finance Program How … • The economic development account is established … to finance, acquire, manage, and operate development projects that the authority intends to own and operate. The term “operate” includes operation directly by the authority or by an agent of the authority. (AS 44.88.172)

  10. Development Finance Program • Under AS 44.88, the project must be endorsed by the local government • The project and its development must be economically advantageous to the state and to the general public welfare and will contribute to the economic growth of the state; • The project applicant is financially responsible • The project is economically and financially feasible and able to produce revenue adequate to repay the bonds or loans with which it is financed.

  11. Development projects • DeLong Mt. Transportation System • FedEx Maintenance Facility • Snettisham Hydroelectric Project • Ketchikan Shipyard • Skagway Ore Terminal • Healy Clean Coal Project

  12. International Air Cargo Support Facilities • Stability of jet fuel supply • Port of Anchorage • Anchorage International Airport • Enhance operations in Anchorage • FedEx Hanger • New MRO • Gas to Liquids

  13. AIDEA is looking at: • Feasibility of additional fuel supply storage • Security issues – Jet fuel • Long term viability of refineries • System wide supply chain

  14. Port of Anchorage Fuel Terminal • 500,000 to 1,000,000 barrels of fuel storage capacity • Open access • Product transferred by pipeline, barge, truck and railcar • Enhance the statewide fuel system • AIDEA contract with operator • Open season for storage commitment • Estimated cost $50 – 75 million

  15. FedEx Maintenance Facility • Created 20 permanent, highly-skilled jobs • Strengthens Alaska’s role as an international air crossroads • Funded through bonds (1992)

  16. Anchorage Airport Large Body Cargo Aircraft Maintenance Facility • Additional support to Alaskan Cargo market • Strengthens Alaska’s role as an international air crossroads • Sized for next generation of aircraft • 300 – 500 new jobs

  17. Our Mission is to promote, develop and advance economic growth and diversification in Alaska by providing various means of financing and investment With the vision to be an active partner with Alaskans and a dynamic resource in Statewide economic development

  18. AIDEA Alaska Industrial Development and Export Authority 813 West Northern Lights Blvd. Anchorage, Alaska 99503 907-771-3000 1-888-300-8534 (toll free in Alaska) www.aidea.org

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