What is AIDEA?

1. Create jobs and economic development

2. Invest state funds

3. Distribute income through below-market financing rates

1. AIDEA has only had 26 projects in 38 years of operation

2. 4 projects are no longer operating

3. 7 were existing acquisitions of existing properties or operations

4. 3 are still in the planning stage

5. Overall, its projects have a negative 2.6% rate of return, losing Alaskans' money

1. AIDEA props up non-renewable, extractive private industry with public money. Its projects "will eventually wither away," according to a recent in-depth report, and may damage the environment, harm renewable resources, or endanger public health. Alaskans pay the consequences.

2. The private extractive industries AIDEA spends public money subsidizing are highly localized. Unlike industries like finance, technology, and manufacturing, they cannot grow beyond their locations. Each non-renewable, extractive resource development project is a one-shot deal with a clear endpoint.

3. AIDEA gambles away Alaskans' money, earning negative 2.6% return on its projects on average. Projects that do get off the ground earn Alaska little money and fail to create many jobs. 'The Alaska Megaprojects Update' indicates State mineral taxes amounted to only 2.3% of the value of mineral production. Alaska gives away 97.7%.

4. “Alaska’s subsidization of resource extraction is a major giveaway of its public resources to foreign multinational corporations and non-resident workers. It is doubly bad because no significant fiscal policies capture part of the mineral value for the State, or offset the cost of public services required by the businesses, their workers, and families”

5. In the 35 years since AIDEA's first project investment, AIDEA projects have lost a total of $233.3 million.

6. Since AIDEA was first capitalized in fiscal year 1981, it has cost the state and its residents $10 billion.

For more information on AIDEA, read Alaska Industrial Development & Export Authority (AIDEA): Cost & Financial Performance — A Long, Hard Look

Even the AIDEA board chair and AIDEA deputy director, who are pushing this road over the protests of local hunters, fishermen, businesses, cabin owners, and residents, have acknowledged an industrial gravel road that would impact fish, wildlife and a cabin’s remote setting isn’t something anyone would want near them.

Transcript from March 6, 2024 AIDEA Board Meeting

“See where it says Northwoods Lodge?” — J. Dana Pruhs, AIDEA Board Chair & West Susitna Property Owner

“Is that where I need to put the road?” —Brandon Brefczynski, AIDEA Deputy Director

“That’s where I’m at… My place is right there by Northwoods Lodge, right where the E is or wherever” — J. Dana Pruhs, AIDEA Board Chair & West Susitna Property Owner

“So avoid that area.” —Brandon Brefczynski, AIDEA Deputy Director

“Yeah, we don’t want a road there.” — J. Dana Pruhs, AIDEA Board Chair & West Susitna Property Owner