Despite growing public awareness and increasing political pushback, AIDEA is doubling down on spending while openly admitting they don’t care what the public thinks of their actions. This January, they’re planning on spending up to $20 million on a lease sale in the Arctic National Wildlife Refuge to bid on leases that have interested no oil and gas company.
Act today: Sign our petition telling AIDEA not to bid on Arctic Refuge Leases.
Not familiar with AIDEA? Scroll down to learn more!
What The Heck Is AIDEA?
The Alaska Industrial Development and Export Authority — known as AIDEA — was created in 1967 as a public corporation of the State of Alaska with a mission to, “provide financing for Alaska’s business community, to expand the economy of the state, and to provide jobs for Alaskans.”
On paper, it sounds like a great idea, right? In practice, it’s been a disaster.
For decades, AIDEA has gambled away Alaska’s money. Even today, money that could be used to fund schools, social services, or repair roads is being divided up among a few hundred people and thrown into speculative development projects unwanted by the communities that live there. And what do Alaskans get in return? Nothing. Millions of much-needed dollars are appropriated and wasted each year while the infrastructure and services around us fall apart.
Did you know that if AIDEA’s funds were invested in the Permanent Fund, the state would be $10 BILLION richer? Instead, most of this money has been squandered, leaving Alaskans with next to nothing in return.
That's a lot of zeros for zero results. The good news is there are zero rules against tightening AIDEA oversight and billions of reasons for lawmakers to take power back.
