Speaking of AIDEA, the board on Tuesday approved a $17.65 million dividend to the state, which will go into the general fund. Since its inception, the state agency, charged with providing project financing, has returned $373.5 million to the state in dividends. Also, according to an AIDEA board member, the agency plans to reduce its budget by 10 percent this coming year.
Here’s the press release:
The Alaska Industrial Development and Export Authority (AIDEA) Board on Tuesday approved a dividend of $17,650,000 to the state general fund for Fiscal Year 2016. The dividend represents 50% of AIDEA’s FY2014 Revolving Fund net income for dividend computation purposes of $35.3 million.
“We are pleased to announce this dividend to the State of Alaska,” said AIDEA Board Chairman Dana Pruhs. “Our dividend is another great example of AIDEA’s valuable contribution to Alaska’s economy.”
Since the dividend program’s inception, AIDEA has declared more than $373.5 million to the state, including the $17.6 million approved Tuesday.
The Alaska Industrial Development and Export Authority is a public corporation of the state. AIDEA’s purpose is to promote, develop and advance the general prosperity and economic welfare of the people of Alaska.