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. 

Use the form above to contact your state lawmaker and ask them to invest in Alaska’s future, by taking control of AIDEA’s wasteful spending. 

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