74 Alaska Business | September 2018 www.akbizmag.com
Julie Stricker is a journalist living near
in commercial sector revenue, with $77.2
million in operations. Mineral exploration
continues in the region, with Trilogy Metals
spending $17 million.
“NANA has supported the resource devel-
opment industry for over forty years, and our
investment in Alaska is at an all-time high,”
says Wayne Westlake, NANA president and
CEO, in a news release. “Kuna Engineering
and NANA Construction’s expertise and ex-
perience will help create new opportunities
and employment for our shareholders and
will fuel growth for Alaska’s economy.”
In 2017, NANA Management Services
was selected by BP to continue food services,
housekeeping, facilities management, security
services, and logistics on the North Slope. The
BP contract continues a forty-year relation-
ship between the companies, one of the most
enduring contracts on the North Slope.
NANA has 14,300 Iñupiat shareholders
from Northwest Alaska, many of whom work
in the Red Dog zinc mine north of Kotzebue.
Red Dog is run as a partnership between
NANA and Teck Alaska. The mine creates
more than 600 jobs in the region. NANA has
received more than $1.3 billion in net proceeds from the mine, distributing more than
$820 million to other regional corporations
through the 7(i) resource sharing provision
under ANCSA. Of the $480 million NANA
retained, more than $221 million in dividends has been distributed to shareholders.
In FY2017, NANA received $247 million
in net proceeds from Red Dog Mine and
$154.4 million was shared through 7(i). The
corporation gave $838,000 to the Aqqaluk
trust, distributed $13 million in shareholder
dividends, and awarded 330 scholarships.
For Juneau-based Sealaska, 2017 was a strong
year; the corporation retooled its businesses
after losses in 2013 to closer align with its
cultural heritage and traditional values. It is
owned by approximately 22,000 shareholders
of Tlingit, Haida, Tsimshian, and Unangax
Its businesses are in three core areas: natural resources, government services, and foods.
Sealaska acquired Independent Packers
Company, a value-added seafood processor
in 2016. In 2017, it invested in seafood companies Odyssey Foods and Orca Bay Seafoods.
Sealaska Foods is now the corporation’s largest operational group. Sealaska also has an
investment portfolio that is also showed strong
returns in 2017.
The corporation is working with the Cloverdale Rancheria of Pomo Indians on a project to
develop a casino in Cloverdale, California.
Sealaska’s operations earned revenue of
$293.4 million in 2017, significantly higher
than its 2016 tally of $145.5 million. Sealaska’s
combined net revenue exceeded $43 million
in FY2017, a significant increase compared to
2016’s $14 million.
Shareholder equity rose by $35.3 million
in 2017 over 2016. It has increased by $61.5
million over the past four years, a significant
recovery from losses in 2013.
In its 2017 annual report, CEO Anthony
Mallott writes, “Our natural resource busi-
ness focuses on small-scale timber harvest
and creates economic value from new oppor-
tunities like carbon markets. We shifted our
government contracting businesses to focus
on environmental services and water-quality
work. We have invested in growth areas of the
seafood industry that recognize the historic tie
our people have to the ocean and the ocean’s
bounty. We are proud to say we operate busi-
nesses that both protect our environment and
In 2016, Sealaska initiated a carbon
sequestration project on about 155,000 acres
that continued in 2017. The project is part
of an effort to develop long-term storage of
carbon to mitigate or defer global warm-
ing. Once its carbon project application is
approved, Sealaska can sell credits to buyers
seeking to offset carbon emissions.
Sealaska is boosting its scholarship program
by $10 million, bringing its total endowment
to $15.7 million. Scholarships are paid from
earnings from its fund and timber revenues.
To date, Sealaska has awarded about 11,000
scholarships totaling $16.4 million.
The corporation also contributed $1.5
million in cash and in-kind donations to
the Sealaska Heritage Institute. Since 1972,
Sealaska has paid $643.1 million in
shareholder dividends and ANCSA 7(i)