Founded 1974 | Parent organization NANA Regional Corporation | |
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Subsidiaries TKC COMMUNICATIONS, LLC | ||
NANA Development Corporation headquartered in Anchorage, Alaska, is owned by NANA Regional Corporation—an Alaska Native Corporation formed under provisions of the Alaska Native Claims Settlement Act (ANSCA)—and functions as the latter’s business arm.
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History
In 1968, nine years after Alaska attained statehood, oil was discovered at Prudhoe Bay. The discovery put the issue of Native lands into the forefront. Three years later, in 1971 President Richard Nixon signed the Alaska Native Claims Settlement Act, which conveyed nearly 150 million acres (610,000 km2) of federal land into the hands of 12 newly created Alaska Native regional corporations. One of these corporations was NANA Regional Corporation. In 1974, NANA Development Corporation was founded to function as the business arm of NANA Regional Corporation.
NANA Regional Corporation
NANA Regional Corporation, headquartered in Kotzebue, Alaska, is an Alaska Native Corporation with a land base of approximately 36,000 square miles (roughly the size of Indiana) in Northwest Alaska centered on the Kotzebue Sound and its tributaries. The Arctic Circle travels through NANA territory. NANA Regional Corporation is the owner of NANA Development Corporation. There are approximately 13,000 shareholders of NANA Regional Corporation, most of whom are of Inupiat descent. About 7,300 residents live in this area, more than 85 percent of whom are NANA shareholders. Unlike traditional corporate shares, NANA Regional Corporation shares are not publicly traded, nor can they be bought or sold.
As part of this relationship with its parent company, NANA Development Corporation participates in several programs unusual in the business world, including programs to facilitate the hire of NANA shareholders and scholarships for the region’s youth. NANA Development Corporation contributed $1.5 million to the Aqqaluk Trust, which has a goal of every Inupiaq Eskimo of Northwest Alaska Native region to receive an education, speak the Inupiaq language fluently and fully understand the richness of their past so they may succeed in their future.
Current enterprises
NANA Development Corporation employs approximately 15,000 employees in all 50 states and in nine different countries. It works primarily in the oil and gas, mining, technology, hospitality, healthcare, construction, federal contracting and tribal sectors of the economy.
NANA Development Corporation and some of its majority-owned subsidiaries qualify under federal law as “minority and economically disadvantaged business enterprise[s]" and therefore meet the requirements of the Small Business Administration’s 8(a) contracting provisions.
NANA Development Corporation earned corporate revenues of $1.7 billion in 2013. Examples of some of the more than 30 companies NANA owns, or owns a stake in, are listed below.
Oil and Gas
NANA provides support for oilfield and natural gas operations and associated services. Subsidiaries in the petroleum sector include the following:
Motion Pictures
NANA invests in the Alaska-based motion picture industry:
Mining
Red Dog Mine, the largest zinc mine in the world, is located on land owned by NANA north of the Arctic Circle and is developed by NANA in partnership with Teck Cominco. Other NANA subsidiaries which serve the mining sector include: