Juneau -- The Alaska Senate Monday passed House Bill 265, sponsored by Representative Alan Austerman. HB 265 extends the life of the Alaska Regional Economic Assistance Program to July 1, 2003.

In 1988, the Alaska Regional Development Organizations (ARDOR) program was created in statute. The 13 ARDORs created across the state are private, nonprofit corporations formed by local initiative to promote private sector economic development within their designated regions. A 14th ARDOR is being developed in Fairbanks.

"Sound economic development relies heavily on partnerships between the public and private sectors," Austerman said. "The ARDORs were conceived to facilitate this kind of partnering and to bring a regional perspective to the discussion of economic development issues."

"Since ARDOR grants are not tied to specific projects, they may be used for operating expenses and to leverage dollars from other sources," Austerman said. "Millions of dollars have been leveraged from federal, private, and other funding sources through this program."

HB 265 passed both the House and the Senate unanimously.

Sponsor Statement for HB 265

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