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FEDC asks borough for $100,000 increase as it takes on regional ARDUR role
Summary
Jomo Stewart, president and CEO of the Fairbanks Economic Development Corporation, told the Assembly finance committee FEDC has been designated the region's ARDUR (regional development organization) and asked the borough to raise its flat grant from $350,000 to $450,000 to cover new federal responsibilities and program costs.
Jomo Stewart, president and CEO of the Fairbanks Economic Development Corporation, told the Fairbanks North Star Borough Assembly Finance Committee that FEDC has been designated the Alaska Regional Development Organization (ARDUR) and is asking the borough to boost its annual grant from $350,000 to $450,000 to cover new federal responsibilities and program costs.
Stewart said FEDC will act as project manager for tasks now expected of an ARDUR, including producing and updating the five-year SEDS (strategic economic development strategy) and managing federal grant applications. He told the committee that FEDC managed the 2025 SEDS update, conducting seven of 14 roundtables, four supplemental interviews and a public survey, and released the SEDS notes on June 27.
The…
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