AIDEA recognizes that Alaska has placed a high priority on supporting new mineral and oil and gas projects. These projects are important to economic development because they create jobs, and diversify the economy. As part of its strategic planning process, AIDEA has identified the opening of new mining areas, the diversification of the types of minerals produced, and bringing oil and gas fields into production as important economic development goals.
This type of development could also lead to increased industrial development in Alaska. For example, rare earth metals are a valuable commodity and AIDEA is working with its existing finance tools to assist the opening of such mines. However, AIDEA is interested in more than simply mineral extraction. The Authority recognizes that developing the capability for in-state processing of minerals, such as rare earth metals, could create many long-term jobs and lead to industrial development utilizing state-of-the-art technologies.
Further, AIDEA supports the development of intermodal transportation systems, the intermix of industrial roads, rail and ports needed to bring natural resources, refined products, and goods to market. As AIDEA has reached out to developers both in and outside of the state, it has learned that road and port access to development sites and the availability of needed energy at those sites are the two infrastructure types needed to spur desirable natural resource development.
Examples of supported projects include:
- Private use, industrial roads linking mine sites and existing transportation infrastructure.
- Energy interconnections bringing power to industrial, mining and natural resource extraction sites that are currently under-powered
- Port expansion, dredging, deepening to accommodate increased shipping from mining production
- Rail route expansion and construction
- Intermodal nodes to facilitate cargo switching
- Airport shipping and storage facilities required for cargo
Projects that can be considered are many and varied in nature. For more information concerning infrastructure development and financing, contact Mark Davis at 907-771-3080.