The Alaska Industrial Development and Export Authority reported a record-setting year in its audited financial results for the fiscal year ending June 30, posting a statutory net income of $67.4 million, the highest in the authority’s history.
AIDEA’s board also declared a $17 million dividend to the State of Alaska, bringing total dividends paid to the state since AIDEA’s creation to $512 million. The agency said the results reflect its ongoing focus on economic development and long-term growth across Alaska.
Acting AIDEA Board Chairman Bill Kendig said the financial performance reflects the authority’s approach to fiscal discipline and strategic investment.
“These record-setting results demonstrate AIDEA’s unwavering commitment to responsible stewardship and strategic investment in Alaska’s future,” Kendig said. He added that AIDEA’s model allows it to deliver returns to the state while funding its own operations, supporting job creation, infrastructure development, and sustainable economic growth.
Executive Director Randy Ruaro credited AIDEA’s staff and partnerships statewide for the strong performance.
“The record statutory net income is a testament to our team’s diligent stewardship and our ongoing partnerships with businesses and communities throughout Alaska,” Ruaro said. “Our results position us to continue making impactful investments in the state’s future.”
Ruaro noted that the authority has now achieved its strongest financial results for the second consecutive year. He said AIDEA’s performance reflects the work of a staff of just over 30 employees, guided by the board, and marks the most successful period in the authority’s 60-year history.
Established by the Alaska State Legislature in 1967, AIDEA is an independently governed public corporation tasked with promoting the economic welfare of Alaskans. Its mission is to provide and facilitate financing and investment opportunities that spur economic development, create jobs, and improve quality of life across the state. It does this by offering loan participation, bond financing, and loan guarantees for businesses, non-profits, and community projects. AIDEA invests in critical infrastructure like roads, ports, and energy systems to support resource extraction and industry.
