Every company has shareholders; ours are the Iñupiat people of northwest Alaska.
NANA Regional Corporation, Inc. (NRC) is one of 13 regional corporations formed under the Alaska Native Claims Settlement Act (ANCSA). NANA Development Corporation (NDC), the business arm of NRC, was created in 1974. All NANA Companies, including the Akima, LLC family of companies, help improve the lives of NANA’s shareholders—the Iñupiat people of northwest Alaska. Below are a few examples.
Life in northwest Alaska is expensive. There are no roads in; goods and services are delivered by barge or air, which exacerbates the high cost of living in the NANA region. One of the main concerns is the cost of fuel. The winters are harsh and heating fuel costs are high. That’s why the dividends that flow through NANA Development Corporation are so important. Dividends generated by NANA companies help sustain the families living under these conditions. Over the years, NANA has distributed $175 million dividends to its shareholders.
In 2011, NANA paid $53 million in wages to 1,395 NANA shareholders employed by NANA companies. Akima companies employ several Alaska Natives in a variety of positions.
At Akima, we believe that knowledge is the pathway to forging a bright future. That’s why profits from our business operations help fund education and job training programs, internships and scholarships across Alaska and the lower 48 states. Akima contributed to the $830,000 NANA distributed in scholarship money in 2011.
Social and Cultural Preservation and Regional Elders Programs
In 2011, NANA contributed $5.4 million to social and cultural programs for the benefit our shareholders and their descendants. Akima helps support these programs that sustain the traditional heritage and Iñupiaq language. In addition, we help pay the travel costs of village Elders who provide wisdom and guidance to NANA and other regional organizations.