Alaska industrial development and export authority (aidea)
AIDEA is Alaska’s development finance authority with a mission to promote, develop, and advance economic growth and diversification in Alaska by providing various means of financing and investment. We have been investing in Alaskans since 1967 by acting as a funding resource in partnership with other private capital investors, financial institutions, economic development groups and guarantee agencies.
Our loan, bonding and development project finance programs have directed over $3 billion into economic development throughout the state since inception. We are a self-sustaining public corporation of the State of Alaska with our headquarters in Anchorage, Alaska.
AIDEA finances a broad variety of commercial, industrial and natural resource development enterprises in the state of Alaska. If you are considering locating or expanding your business in Alaska please consider AIDEA as a partner in meeting your finance needs. More information can be obtained at www.aidea.org.
Through excellent customer service and sound business management practices, the Alaska Railroad Corporation (ARRC) provides safe, efficient and economical transportation and real estate services that support and grow economic development opportunities for the State of Alaska.
University of Alaska
The University of Alaska is a land-, sea- and space-grant system of higher education established in 1917.
The UA system’s three universities (UAA, UAF and UAS) are separately accredited institutions with 13 community campuses and extended learning centers across the state of Alaska. All three universities deliver extensive e-Learning instruction anywhere students are located.
System-wide, more than 26,600 full- and part-time students are enrolled, studying among 500 unique degree, certificate or endorsement programs. Study areas include short-course workforce training, associate degrees, bachelor’s and master’s degrees, as well as doctorates.
Alaska Housing Finance Corporation (AHFC)
Alaska housing is a self-supporting public corporation with offices in 13 communities. Alaska Housing provides financing for multi-family complexes and single-family homes with loans and options for low to moderate-income borrowers, veterans, teachers, nurses, public safety officers and those living in rural areas. AHFC also provides energy and weatherization programs, low-income rental assistance in 16 communities, and programs for those who are homeless and those seeking to become self-sufficient. Since 1986, Alaska Housing has contributed more than $2.1 billion to Alaska’s state budget through cash transfers, capital projects and debt-service payments. As of July 1, 2020, assets totaled $4.6 billion.
Alaska Energy Authority (AEA)
The Alaska Energy Authority (AEA) provides energy solutions to meet the unique challenges of Alaska’s rural and urban communities. Established by the Alaska Legislature in 1976, its mission is to reduce the cost of energy throughout Alaska.
As Alaska’s lead agency for statewide energy policy and program development, AEA collaborates with utilities, private companies, legislators, local governments, and Alaskan energy innovators to diversify the state’s energy portfolio.
AEA owns the Bradley Lake Hydroelectric Project, the largest hydro project in Alaska. Located near Homer, the 120-megawatt facility provides some of the cheapest power in the state to more than 500,000 Alaskans. AEA also owns the Alaska Intertie, a 170-mile-long transmission line between Willow and Healy. In the last decade, AEA, by its ownership and management of the Intertie, has saved residents in Interior Alaska approximately $40 million annually.
AEA oversees the Power Cost Equalization (PCE) program, which reduces the high cost of electricity through annual payments of $28 million to utilities. The program serves 84,000 Alaskans in 194 rural communities largely dependent on diesel fuel for power generation. Through its rural programs, AEA has also invested $355 million in the construction and upgrades of energy projects in rural Alaska.
Created in 2008, AEA’s Renewable Energy Fund grant program helps Alaskans reduce and stabilize the cost of energy through the development of renewable energy projects. Since its inception, AEA, at the direction of the Legislature has evaluated more than 850 renewable energy project proposals, which has resulted in the award of more than $280 million in the funding for rural Alaska clean energy projects.
Through its policy guidance, management of energy infrastructure, and administration of grants and loan programs, AEA provides benefits to Alaskans across a broad spectrum of energy technologies.
As Alaskans, we are committed to providing safe, reliable, and affordable energy solutions to every corner of the state. To get involved or learn more, visit us at www.akenergyauthority.org.