US Senator Mark Begich (left) and Bering Strait Native Corporation CEO Gail R. Schubert acknowledge the conveyance of lands.
revenue in its history, $404 million, with a net income of $21.7 million. It also increased dividends to its 12,600 shareholders of mostly Yup’ik, Cup’ik, and Athabascan descent by 8 percent, or $4.3 million. Calista subsidiaries work in such diverse fields as telecommunications technology, aviation, government contracting, and construction. In addition, Calista paid out $460,000 in scholarships and another $140,000 for internships, as well as increasing elder payments by 5 percent for a total of $550,000.
Photo courtesy of Bering Straits Native Corporation
NovaGold Resources, which had been focusing on reclamation at the Rock Creek gold mine site. BSNC CEO Gail Schubert says the corporation is evaluating whether mining operations can be resumed at the site. Its main business holdings are in government contracting, construction, property management, and tourism. In 2012, overall revenues were up almost 8 percent over 2011 for a total of $213 million. Locally, BSNC subsidiary Inuit Services Inc. and Neeser Construction built a new regional hospital in Nome, helping improve health care for shareholders as well as providing employment for shareholders and their families. The corporation also supports the Bering Straits Foundation, offering scholarships, fellowships, and mentorship opportunities to shareholders and descendants. In 2012, the foundation provided more than $238,000 in educational funding.
Bristol Bay Native Corporation In 2012, Bristol Bay Native Corporation (BBNC) unveiled a new logo that it says makes clear the corporation’s identity as “a unique investment corporation with the sole responsibility of enriching our Native way of life.” The logo, a tri-colored arc of salmon encircling the words Bristol Bay Native Corporation, makes clear that salmon-rich Bristol Bay is its priority in southwest Alaska. While BBNC is a successful global enterprise with more than forty subsidiaries around the world, its focus is increasingly on fostering economic development at home. 96
Recently, BBNC purchased Mission Lodge in Aleknagik, bringing it back into the tourism industry. Other subsidiaries operate in construction services, government services, oilfield and industrial services, and petroleum distribution. In 2012, BBNC generated $1.965 billion in revenue, with growth in all segments of its operations. Over the past years, BBNC has significantly increased shareholder dividends. In September 2011, the board paid out $100 million in dividends to its 9,000 shareholders. It recently began paying out $125 quarterly dividends to elders.
Calista Corporation In 2009 Bethel-based Calista took a hard look at the future of the corporation and set five goals: 1) Increase revenue to $350 million by 2014, 2) Increase total pretax profitability, 3) Realize the Donlin Creek property mining investment, 4) Boost regional infrastructure and economic development, and 5) Increase shareholder services and businesses. By fiscal year 2012, Calista had already met four out of five and exceeded its longer term revenue goal by $50 million. It is still working toward the Donlin Creek measure but says great strides have been made toward its goal of getting the world-class gold mine online. Calista owns the subsurface land and The Kuskokwim Corporation owns the surface rights. The project has at times boasted an 85 percent or higher Alaska Native hire rate and is in the permitting phase. Probable reserves are estimated to be 33.8 million ounces of gold. In 2012, Calista had its highest total
Alaska Business Monthly | September 2013
Chugach Alaska The sale of its former headquarters building in Anchorage in 2013 was the closing of a chapter in the history of Chugach Alaska Corporation. The corporation, which declared bankruptcy in 1991, moved its offices to the 34th Avenue building in 1993. Within a few years, Chugach Alaska successfully entered the field of government contracting, climbed out of bankruptcy, and bought the building in 2001. Years of growth followed, and Chugach Alaska outgrew those offices as well as the building next door. Today more than 200 employees occupy several floors of the JL Tower. With the sale of the former building, the corporation, which has more than 2,500 shareholders and a land base around Prince William Sound, is moving forward. It has 5,400 employees around the world who provide wideranging facility services for federal and commercial clients, including base operations support, construction, facility management, and information technology management. Chugach Alaska also has a diverse investment portfolio. In 2012, revenue totaled $709 million. The corporation’s Hawaii HVAC subsidiary bought the assets of mechanical contractors Heide & Cook, which had been operating under Chapter 11 bankruptcy. In 2013, the federal Bureau of Land Management conveyed twelve historical sites in Prince William Sound to Chugach Alaska. The corporations states, “Traditional lands are the basic building blocks that form and unite our culture. These sacred lands where our forefathers have lived and died are considered the heart and soul of a people.” www.akbizmag.com