The Alaska Miner Spring 2024 14 Recent articles have questioned the importance of the Alaska Industrial Development and Export Authority (AIDEA) and led to several misconceptions. AIDEA's mission is simple — create jobs and economic opportunities for Alaskans. This mission is critical for the state's development and prosperity. AIDEA's work on projects like the Red Dog Mine has been instrumental in creating jobs, stimulating economic growth, and enhancing the quality of life for Alaskans. AIDEA is a catalyst in developing infrastructure and boosting the economy. AIDEA's involvement in the Red Dog Mine is the best example of the success of our mission. The mine has provided more than 3,000 jobs and $1.3 billion to the State of Alaska and ANCSA corporations — which would not have materialized without AIDEA’s investment in the Red Dog Road and Port infrastructure. It exemplifies our focus on impactful investments that benefit Alaskans. The statutes that govern AIDEA consider the long-term economic health of Alaska. We invest in businesses and projects for the purpose of employment. Our mandate is not solely to generate immediate financial returns, but to foster overall economic growth and jobs. An important misconception to address is how AIDEA is funded. AIDEA is self-funded by its investments and projects. AIDEA sends its profits back to the state in an annual dividend. To date, AIDEA has contributed an impressive $468 million in dividends. Criticism of AIDEA originates from a biased ‘report’ by an environmental group motivated by a political agenda. The funding for this report has a predetermined opposition to infrastructure development. Such funding raises questions about the report's objectivity and casts doubts on its conclusions. AIDEA opponents do not consider the mission of AIDEA. They criticize projects like the Snettisham Hydroelectric dam, where AIDEA took a lower rate of return because there was a greater purpose of lowering electric rates to consumers. In response to concerns about AIDEA investments, it's important to recognize development involves calculated risks and a vision for the future. For instance, our support for the Ambler Road project is driven by its potential to unlock significant mineral resources, fostering economic development in the region and jobs for rural Alaskans. While there are challenges, we believe in the project's long-term benefits for Alaska. Furthermore, AIDEA operates a high degree of transparency and accountability. We are subject to annual independent audits, ensuring our operations align with the highest standards of fiscal responsibility. Our commitment to Alaska's prosperity is unwavering, and we continue to seek opportunities that promise economic growth and job creation. AIDEA is a vital entity in Alaska's development and economic landscape. We remain dedicated to our mission of driving economic growth and jobs. Our focus continues to be on the long-term benefits for Alaskans, ensuring a prosperous and sustainable future for our state. Randy Ruaro is the Executive Director of AIDEA. He is a licensed attorney with 28 years of experience working on access issues, permitting and state land rights for Alaska. He holds a Juris Doctorate from Willamette University. Prior to joining AIDEA, Ruaro served as Gov. Dunleavy’s Chief of Staff and Special Assistant for Statehood Defense. He has over 20 years of experience providing administrative oversight to state agencies, agency leaders, and implementing policies supporting resource development, infrastructure, and job growth. AIDEA focused on Alaska jobs RANDY RUARO
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