Native corporations form coalition to stimulate growth
ANCHORAGE - More than 100 Alaska Native village corporations have banded together for the first time in a bid to stimulate their economic growth.
Sound off on the important issues at
The corporations, formed by Congress under the Alaska Native Claims Settlement Act in 1971, range from some of the biggest businesses in the state to tiny firms that make little or no money for their shareholders.
With that in mind, the Alaska Native Village Corporation Association will encourage the larger companies to coach the smaller ones, according to Maver Carey, chief executive of the Kuskokwim Corp. Carey is credited with leading the effort to unite village corporations.
"We're kind of making history here," Carey said.
The Alaska Native Claims Settlement Act settled Native claims to most of Alaska's land, creating the Native-owned companies and seeding them with land and cash. Under the law, 13 regional corporations were also formed.
The association also aims to promote land management and development policies, lobby the government and organize group purchasing to save money on corporate expenses.
Kristina Woolston, an executive with Anchorage-based Chenega Corp., which has grown to roughly $800 million a year in annual revenue, pointed to bills pending in Congress that challenge federal contract awards to Native companies.