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Governor Parnell to Sign Economic Development Bill in Skagway


May 5, 2011, Juneau, Alaska - Governor Sean Parnell will sign House Bill 119 tomorrow morning at the Skagway Ore Terminal.

HB 119 allows the Alaska Industrial Development and Export Authority (AIDEA) to invest in a corporation or LLC, which allows greater flexibility in its investment opportunities. AIDEA plans to use the provisions of this bill to finance a jack-up rig for the Cook Inlet. The bill also authorizes AIDEA to issue up to $65 million in bonds to expand and improve the Skagway Ore Terminal. HB 119 expands AIDEA's investment opportunities relating to communications, industrial roads, intellectual property and military installations.

Who:                      Governor Sean Parnell
What:                     Signing ceremony for HB 119
When:                    Friday, May 6, 9:45 a.m.
Where:                   Skagway Ore Terminal
Contact:                  Sharon Leighow (907) 240-7943
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