Alaska Native Corporations (ANCs) accounted for more than half of Alaska Business Magazine’s recently released “2020 Top 49ers” list. For the 26th consecutive year, Arctic Slope Regional Corporation (ASRC) anchored the list at #1 overall, responsible for more than $3.7 billion in revenue. Left: ASRC building in Anchorage; Right: ASRC President and CEO Rex A. Rock, Sr. (Courtesy ASRC)
Alaska Business Magazine recently released their “2020 Top 49ers” list of locally owned Alaska companies ranked by gross revenue, and once again Alaska Native Corporations (ANCs) held prominent placements on the list. In fact, out of the 49 Alaska companies that made the list, ANCs represented 25 of them. And out of more than $18 billion in combined revenue from all 49 companies on the list, ANCs accounted for nearly $15 billion of that total.
Nine of the top ten companies are Alaska Native Corporations, including the below.
Arctic Slope Regional Corporation
Arctic Slope Regional Corporation (ASRC) anchored the list, once again coming in at #1 overall with more than $3.7 billion in revenue. Incorporated in the summer of 1972, ASRC is now the largest local-owned and operated business in the state, with roughly 13,000 shareholders in the villages of Point Hope, Point Lay, Wainwright, Atqasuk, Utqiaġvik, Nuiqsut, Kaktovik, and Anaktuvuk Pass. Since inception, ASRC has distributed more than $1 billion in dividends. ASRC President and CEO Rex A. Rock, Sr., who has been involved with the management of ASRC for more than 25 years, was named a Native Business Top 30 CEO in 2019.
ASRC’s six main areas of operations include petroleum refining and marketing, energy support services, industrial services, construction, government contracting, and resource development. ASRC also has several smaller subsidiary companies that have been a part of ASRC’s portfolio for decades, including a power sports retail store, the Top of the World Hotel, tour programs, and a lending organization serving small businesses throughout Alaska and the northwestern United States.
Bristol Bay Native Corporation
Bristol Bay Native Corporation came in second with more than $1.7 billion in revenue. Active in industrial services, government services, construction, seafood, tourism, and natural resources, BBNC employs more than 4,300 worldwide, including more than 1,900 in Alaska. The company has more than 10,000 shareholders tied to the Bristol Bay region.
Third on the list is NANA Corporation, owned by more than 14,500 Iñupiaq shareholders or their descendants who live in or have roots in northwest Alaska. Employing more than 14,000 worldwide, including nearly 4,500 in Alaska, the company grossed more than $1.6 billion last year. 2019 also marked the thirtieth year of production at the company’s Red Dog mine, where it has continuously produced zinc, lead, and other elements for global markets and employed more than 3,000 NANA shareholders. To learn about how NANA helped a remote village transition from traditional power to a modern microgrid; read our coverage here.
Chugach Alaska Corporation
Chugach Alaska Corporation, grossing $977 million, held the fifth spot on Alaska Business Journal’s list. With 6,000 employees across 150 locations worldwide, Chugach’s portfolio includes operating businesses, land and resources, and private equity and real estate investments.
Chenega Corporation, responsible for $871 million in gross revenue, employs nearly 6,400 people worldwide. Chenega’s capabilities and business portfolio spans a variety of sectors, including Environmental, Healthcare, and Facilities; Military, Intelligence, and Operations Support; Professional Services; and Security.
Coming in at #7, Sealaska accounted for nearly $700 million in gross revenue from businesses divided into three tiers: natural resources and land management, environmental services, and sustainable foods. Sealaska’s CEO, Anthony Mallott, was previously featured in Native Business in articles about Sealaska’s big comeback and how he views teamwork as a cultural value.
Afognak Native Corporation
Afognak Native Corporation, formed in 1977 through the merger of two Alaska Native Village Corporations and which today serves more than 1,000 shareholders who are descended from the Village of Afognak, brought in more than $618 million last year. Included in Afognak and its subsidiaries are companies offering services in more than 25 countries and territories worldwide, from Alaska’s North Slope to Asia and the Middle East.
Calista Corporation, with more than 32,000 shareholders, is the parent company of more than 30 subsidiaries in industries including federal contracting, construction, real estate, environmental services, natural resource development, marine transportation, oil field services, and heavy equipment sales, service, and rentals. The company’s gross revenues for 2019 were more than $573 million.
Cook Inlet Region, Inc.
Finally, at number ten on Alaska Business Magazine’s list, is Cook Inlet Region, Inc. (CIRI), a company owned by more than 9,100 shareholders of Athabascan, Southeast Indian, Inupiat, Yup’ik, Alutiiq/Sugpiaq, and Aleut/Unangax descent. CIRI has the distinction of being Southcentral Alaska’s largest private landowner, with approximately 1.3 million acres of subsurface land in Alaska. In addition to those land holdings, CIRI also has land and real estate in other states, including Texas, Arizona, California, and Hawaii. Through its diversified portfolio of businesses in energy and infrastructure, oilfield services, real estate, government services, investment securities, private equity and venture funds, land and natural resources, and technology services, CIRI grossed more than $493 million last year.
In addition to those companies above making Alaska Business’ top ten, 16 other ANCs made the “2020 Top 49ers” list. This includes Ukpeagvik Iñupiat Corporation (#11); Bering Straits Native Corporation (#12); Koniag, Inc. (#13); Doyon, Limited (#14); Ahtna, Inc. (#15); Aleut Corporation (#16); Olgoonik Corporation (#17); Goldbelt, Inc. (#18); Tyonek Native Corporation (#20); Tanadgusix Corp. (#23); Sitnasuak Native Corporation (#25); Choggiung Ltd. (#26); Bethel Native Corporation (#30); The Kuskokwim Corporation (#38); Cape Fox Corporation (#40); and Gana-A’Yoo, Limited (#42).