Reporting From Alaska- AIDEA's enormous cash reserves can do more to help close state deficit

AIDEA’s enormous cash reserves can do more to help close state deficit - The Alaska Current

This story was originally published by Dermot Cole, Reporting From Alaska. The Alaska Industrial Development & Export Authority has repeatedly boasted that its earnings last year — $65 million — were strong enough that it contributed $20 million to the state general fund. “We had a very good year financially. I’m expecting significant improvements over that number for 2025. And again more significant improvements in 2026,” Randy Ruaro told legis…

Reporting From Alaska- AIDEA's enormous cash reserves can do more to help close state deficit

The Alaska Industrial Development & Export Authority has repeatedly boasted that its earnings last year—$65 million—were strong enough that it contributed $20 million to the state general fund.“We had a very good year financially. I’m expecting significant improvements over that number for 2025. And again more significant improvements in 2026,” Randy Ruaro told legislators this month.It was such a good year that $20 million should be regarded as…