The history of the people of Alaska’s North Slope reaches back thousands of years, and serves as the foundation upon which ASRC will continue to build in order to benefit future generations. As a company owned and operated by Iñupiaq, ASRC relies on the teachings of the region’s ancestors and lives by the values passed on through countless generations. Iñupiaq values guide ASRC in actively managing its businesses, lands, resources and business relationships. Arctic Slope Corporation’s core values are the cornerstone of its success as a community partner and as a company.
Many shareholders engage in subsistence lifestyles, and urban Iñupiat often return to their village to partake in seasonal hunting and whaling traditions.
Arctic Slope Regional Corporation (ASRC) was established pursuant to the Alaska Native Claims Settlement Act of 1971. Incorporated in 1972, ASRC has its corporate headquarters in Barrow, Alaska with administrative and subsidiary offices located in Anchorage and throughout the United States.
Arctic Slope Regional Corporation is the largest locally owned and operated business in Alaska, with approximately 10,000 employees on its payroll, including more than 3,000 Alaskans. Revenues exceeded $2.5 billion in 2011, up from $2.3 billion in 2010.
ASRC is owned by 11,000 Iñupiat Eskimo shareholders who live primarily in eight villages on Alaska’s North Slope, above the Arctic Circle. This is one of the most isolated and challenging environments in the United States.
In 1990, the Arctic Slope Regional Corporation became the first of only four Alaska Native corporations to enroll shareholders born after 1971. Today, nearly 70 percent of ASRC shareholders were born after 1971.
Seventy-five percent of ASRC’s senior executives are Iñupiat, including the company’s president and chief executive officer.
ASRC owns title to nearly five million acres of land on Alaska’s North Slope which contain a high potential for oil, gas, coal and base metal sulfides. Additionally ASRC owns subsurface rights to certain lands, and has surface rights to other lands. ASRC, as a steward of the land, continuously strives to balance management of cultural resources with management of natural resources.
Consistent with the goals of ANCSA, ASRC’s earnings are employed for the benefit of its shareholders. Each year, a significant amount of Arctic Slope Regional Corporation’s earnings – approximately 40 percent – are distributed directly to its shareholders through dividends and other benefits. The remainder is reinvested in the company to ensure sustainable economic growth for current and future generations of Iñupiat.
Native Villages and Village Corporations:
|Community Name||Corporation Name|
|Anaktuvuk Pass||Nunamiut Corporation|
|Barrow||Ukpeagivik Inupiat Corporation|
|Kaktovik||Kaktovik Inupiat Corporation|
|Nooiksut||Kuugpik Corporation., Inc.|
|Point Hope||Tigara Corporation|
|Point Lay||Cully Corporation., Inc|
|Wainwright||Olgoonik Corporation., Inc.|