THE ALASKA STORY
Nov. 5, 2026 – The Alaska Industrial Development and Export Authority reported $62.4 million in statutory net income for fiscal year 2026, marking the third consecutive year the state development authority has topped $60 million.
The AIDEA board voted Nov. 4 to make $15.6 million available to the state for fiscal year 2028. The dividend equals 25% of the reported earnings for the fiscal year that ended June 30.
Alaska law bases the revolving fund dividend on earnings from two fiscal years earlier and generally sets it between 25% and 50% of the fund’s statutory net income, subject to a cap tied to unrestricted earnings. Payment is subject to legislative appropriation.
The authority said it earned nearly $200 million in statutory net income over the past three fiscal years and holds an AA+ bond rating from S&P Global. AIDEA says it has paid the state $527.6 million since the Legislature established the dividend program in 1996.
Board Chairman Bill Kendig said the authority uses its earnings to finance Alaska businesses and development projects, sustain its operations and provide a dividend that helps pay for state services.
AIDEA pointed to investments in Cook Inlet natural gas production by HEX, a North Slope project by Alyeschem to produce methanol and ultra-low-sulfur diesel, and operations at the Ketchikan Shipyard. The authority has also committed up to $34 million in matching funds for the Port MacKenzie Rail Extension.
AIDEA is involved in the proposed Ambler Access Road and West Susitna Access Road, as well as oil and gas development efforts in the coastal plain of the Arctic National Wildlife Refuge. Its lending programs also finance small businesses and health care facilities across the state.
The Legislature established AIDEA in 1967 as a public corporation to finance projects and businesses that support economic development in Alaska.
