Governor Parnell signs new legislation while in Fairbanks

Governor Sean Parnell has signed into law legislation intended to spur economic activity near military bases.
HB316, sponsored by Fairbanks Rep. Steve Thompson, allows for the creation of so–called military facility zones, where industrial or economic development would improve the base's ability to fulfill its mission.
According to a House Majority news release, funding for the zones may be available from the Alaska Industrial Development and Export Authority, the Alaska Housing Finance Corporation or federal New Market Tax Credits.
Funding, credit or guarantee programs could be made available to municipalities and boroughs working on specifically–approved projects within a zone.