The Alaska Industrial Development and Export Authority has come under fire again in the latest report by a pair of seasoned Alaskan economists. It seems that AIDEA only makes news by periodically serving as a target for critics, usually when some very expensive project goes bust.
In my own opinion, if any plan or project shows promise of making money or creating self-perpetuating economic growth, big business or industry will pick up the ball and run with it without any prodding by a government agency. AIDEA appears to have been used as a money pump to lubricate projects of particular interest to individuals with influence in the halls of power.
I would like to see a simplified and well-publicized report of AIDEA projects going back beyond the “barley” and “coal dust” fiascos of yesteryear. It will be interesting to see just how much the millions invested have profited the state, compared to their yield had they been left in the Permanent Fund.
— Don Neal
Anchorage
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