AIDEA Expands AK SHIP Program to Seward Shipyard

AIDEA Expands AK SHIP Program to Seward Shipyard
Authority to Finance Barge Kotzebue Sound Repair and Refurbishment

(Anchorage) – The Alaska Industrial Development and Export Authority (AIDEA) Board at its March meeting in Anchorage unanimously approved two resolutions related to the Authority’s Alaska Ship Home-porting for Improvements Program (AK SHIP).
The first resolution expands the availability of AK SHIP to finance commercial ship repair and overhaul work at shipyards in the state other than Alaska Ship & Drydock in Ketchikan, where the program was launched in June 2019. The second resolution provides a new funding commitment of up to $1.5 million to Drake Investments LLC, for repair work under contract with JAG Alaska, Inc., operator of the Seward Shipyard.

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