JUNEAU, ALASKA — Three new independent reports from respected long-time Alaska economists Gregg Erickson and Milt Barker show that the Alaska Industrial Development and Export Authority (AIDEA) largely fails at creating jobs or generating new economic opportunity, engages in wasteful loan practices, and has become “in many respects an autonomous organization, exempted from the most important laws that protect the public.”

JUNEAU—An in-depth new report analyzing the Alaska Industrial Export and Development Authority’s (AIDEA’s) costs shows that AIDEA’s project decisions are more politically driven, losing gambles than they are investments. AIDEA has not only mostly failed to create jobs or wisely invest state funds, it has cost Alaskans $10 billion over the years — a figure that equates to $27,842.74 per hour.