SMALLEST RETURN IN YEARS
The Alaska Industrial Development and Export Authority Board at its meeting on Nov. 28 approved a dividend of $10.285 million to the state’s general fund for Fiscal Year 2020.
“We are very happy to announce this dividend to the State of Alaska, especially since it puts us over $400 million,” said AIDEA Board Chairman Dana Pruhs. “Our dividend is another great example of AIDEA’s strong contribution to Alaska’s economy.”
Since the dividend program’s inception, AIDEA has indeed awarded more than $400 million to the State. But the amount has been dropping year after year.
For Fiscal Year 2016, AIDEA awarded $12.88 million dividend to the State. In 2014, the dividend was $20.7 million, in 2013, it was $20.4 million.
The Alaska Industrial Development and Export Authority is a public corporation owned by the State, whose mission is to promote, develop, and advance the prosperity and economic welfare of the people of Alaska. AIDEA is self-funded, using its own earned income to fund loans and investments in economic development, in addition to its operation and capital expenses and annual dividend to the State.
The agency was created by the Alaska State Legislature in 1967 as a statewide entity facilitating economic growth and diversification, and to create and retain jobs for Alaskans.