AIDEA (Alaska Industrial Development and Export Authority)
Manufacturer
- Website
- www.aidea.org
- Services
- In app support
The Alaska Industrial Development and Export Authority (AIDEA) is a public corporation established by the State of Alaska in 1967, dedicated to fostering economic growth and diversification across the state. AIDEA operates as a crucial development financing authority, collaborating with financial institutions, economic development groups, and guarantee agencies to offer a wide array of financial assistance.
Its primary objective is to enhance job opportunities and stimulate economic expansion through the creation and advancement of manufacturing, industrial, energy, export, small business, and various other enterprises. AIDEA's comprehensive program portfolio includes direct project financing, business loans such as the Rural Development Initiative Fund (RDIF) and Small Business Economic Development (SBED) initiatives, and export assistance coupled with loan guarantees. The Authority also manages specialized funds like the Arctic Infrastructure Development Fund (AIDF) for critical regional developments and facilitates New Markets Tax Credits, alongside spearheading significant infrastructure projects like the Ambler Mining District Industrial Access and West Susitna Access.
Critically, AIDEA plays a pivotal role in Alaska's power systems and energy sector through its Sustainable Energy Transmission and Supply (SETS) program, which supports key projects including BlueCrest Energy, Inc., and the Interior Energy Project. The Authority is deeply involved in expanding the state's energy infrastructure, evidenced by its investments in LNG tank farms, hydroelectric initiatives like Snettisham, and recent financial commitments to develop the first methanol and ultra-low sulfur diesel facility utilizing Alaska's stranded North Slope gas. Additionally, AIDEA propels local energy development by providing strategic funding to entities such as HEX Cook Inlet.
Furthermore, AIDEA offers diverse financial tools, including conduit revenue bonds and loan participation programs, which enable a broad range of commercial, community, and non-profit endeavors throughout Alaska. Through these integrated efforts, AIDEA consistently works to promote the health, security, and general welfare of all Alaskans.
Categories: Finance & Legal Services