A new study backed by a conservation group concludes that an Alaska economic development agency’s track record over the last four decades has been marked by failed projects and paltry earnings.
The report’s authors wrote that projects such as Mustang raise questions about procedures at the agency. They also express concern about political or outside influence at the agency, in investments such as the agency’s unconventional decision toto $10 million to buy seven, 10-year leases. It has held onto them in hope that development might occur and lead to new jobs in Alaska, even as companies concerned about exploration challenges there have walked away from their leases.
The roads are critical to the agency’s mission because they could support thousands of jobs, if mining or other activity can occur, Weitzner said. Weitzner said the agency will closely review details of any project before it’s approved, such as the proposed industrial roads, to ensure they bring positive returns to the state.