Alaska Direct Financial Incentives 2012
Alaska's economic development, finance, and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include loan programs and Alaska Growth Capital.
2012
The Division of Economic Development serves as a lender of last resort offering direct lending in commercial fishing, fisheries enhancement, capstone avionics, small business and rural development.
The Alaska Industrial Development and Export Authority (AIDEA) through its Loan Participation program provides permanent financing, both taxable and tax-exempt, to borrowers through a qualified originator for the purpose of acquiring commercial real estate or equipment. The program provides the benefit of long-term fixed or variable rate financing on the portion of the loan purchased by AIDEA. Projects must be in Alaska and cover a wide variety of commercial facilities from hotels and office buildings to warehouses and manufacturing plants.
Grants/loans and equity partnering:
The Commercial Fishing and Agriculture Bank provides loans to fishing, tourism, natural resources, and agriculture-based projects.
Alaska Growth Capital provides financing to nontraditional borrowers/businesses that use innovative technology, are in rural Alaska, and are minority-owned.
The State of Alaska, through the Alaska Industrial Development and Export Authority's Development Finance program is able to participate as an equity partner by using its ability to develop, own (in part or in whole) and operate basic installations and facilities within the state. These projects cover a wide variety of purposes including industrial roads; ports; airports; energy infrastructure; resource extraction; transportation; value-added processing; tourism and other public use facilities. These projects must advance the economic well-being and prosperity of an area within Alaska and generate adequate revenues to repay the bonds sold to finance the project. In all instances, the state recovers its investment and a modest rate of return through user fees and/or leases negotiated with the company utilizing the facilities.
Foreign-trade zones:
Five communities - Valdez, St. Paul, Fairbanks, Kodiak, and Anchorage - have been granted foreign-trade status.
Alaska State Contact:
Division of Economic Development
Alaska Department of Commerce, Community and Economic Development
550 West 7th Avenue, Suite 1770
Anchorage, AK 99501
(907) 269-8110
Incentive and tax information is provided to Area Development by each state's economic development or commerce agency for information purposes only and is subject to revision at any time by the state government. Please contact the state agency directly for full requirements and offerings.
Project Announcements
Alaska Airlines Expands Facility Hub at Seattle, Washington Airport
05/07/2018
Apple Builds New Reno, Nevada, Facility, Searches for New U.S. Campus Site
01/18/2018
Bidding War Begins to Lure Toyota-Mazda $1.6 Billion Joint Venture Assembly Plant
08/07/2017
Manufacturers Less Optimistic About Overall Economy; Express Confidence in Their Own Revenue Growth
07/20/2016
Most Read
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
2022 Top States for Doing Business Provide an Environment for Business Growth
Q3 2022
-
Why the Southeast Is Winning EV Projects, With More on the Way
Q3 2023
-
EV Impacts to Watch in 2023 and 2024
2023 Auto/Aero Site Guide
-
Power-Intensive Site Selection
Q3 2023
-
EV and Semiconductor Projects Stand Out in States Receiving Area Development’s 18th Annual Shovel Awards
Q2 2023
-
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
Q1 2023