Chugach Alaska Corporation, or CAC, is one of thirteen Alaska Native Regional Corporations created under the

Alaska Native Claims Settlement Act The Alaska Native Claims Settlement Act (ANCSA) was signed into law by President Richard Nixon on December 18, 1971, constituting at the time the largest land claims settlement in United States history. ANCSA was intended to resolve long-standing ...

of 1971 (ANCSA) in settlement of aboriginal land claims. Chugach Alaska Corporation was incorporated in

Alaska Alaska ( ; russian: Аляска, Alyaska; ale, Alax̂sxax̂; ; ems, Alas'kaaq; Yup'ik: ''Alaskaq''; tli, Anáaski) is a state located in the Western United States on the northwest extremity of North America. A semi-exclave of the U.S. ...

on June 23, 1972.Corporations Database
Chugach Alaska Corporation
. Division of Corporations, Business & Professional Licensing, Alaska Department of Commerce, Community and Economic Development. Retrieved on 2007-03-27. Headquartered in Anchorage,

, Chugach Alaska Corporation is a for-profit corporation with over 2,200 Alaska Native shareholdersChugach Alaska Corporation. (2006)
"Corporate Profile."
Retrieved on 2007-03-27. primarily of

Chugach Chugach , Chugach Sugpiaq or Chugachigmiut is the name of an Alaska Native people in the region of the Kenai Peninsula and Prince William Sound on the southern coast of Alaska. The Chugach people are an Alutiiq ( Pacific Eskimo) people who spea ...

Alutiiq The Alutiiq people (pronounced in English; from Promyshlenniki Russian Алеутъ, "Aleut"; plural often "Alutiit"), also called by their ancestral name ( or ; plural often "Sugpiat"), as well as Pacific Eskimo or Pacific Yupik, are a so ...

, Eyak, and

Tlingit The Tlingit ( or ; also spelled Tlinkit) are indigenous peoples of the Pacific Northwest Coast of North America. Their language is the Tlingit language (natively , pronounced ),

descent.Chugach Alaska Corporation. (2006)
"The People."
Retrieved on 2007-03-27.

Corporate structure and governance

Officers and directors

A current listing of Chugach Alaska Corporation's officers and directors, as well as documents filed with the State of Alaska since CAC's incorporation, are available online through the Corporations Database of the Division of Corporations, Business & Professional Licensing, Alaska Department of Commerce, Community and Economic Development.

Shareholders

At incorporation, Chugach Alaska Corporation enrolled about 2,000 Alaska Native shareholders, each of whom received 100 shares of CAC stock. CAC currently has about 2,200 shareholders. As an ANCSA corporation, Chugach Alaska Corporation has no publicly traded stock and its shares cannot legally be sold.

Lands

The Chugach region encompasses about 10 million acres (40,000 km²) in

Prince William Sound Prince William Sound ( Sugpiaq: ''Suungaaciq'') is a sound of the Gulf of Alaska on the south coast of the U.S. state of Alaska. It is located on the east side of the Kenai Peninsula. Its largest port is Valdez, at the southern terminus of the T ...

and coastal areas of southcentral

, including the southern coast of the

Kenai Peninsula The Kenai Peninsula ( Dena'ina: ''Yaghenen'') is a large peninsula jutting from the coast of Southcentral Alaska. The name Kenai (, ) is derived from the word "Kenaitze" or "Kenaitze Indian Tribe", the name of the Native Athabascan Alaskan trib ...

. Chugach Alaska Corporation's land entitlement under

ANCSA The Alaska Native Claims Settlement Act (ANCSA) was signed into law by President Richard Nixon on December 18, 1971, constituting at the time the largest land claims settlement in United States history. ANCSA was intended to resolve long-standing i ...

includes about 378,000 acres (1,530 km²) of both surface and subsurface estate and a further 550,000 acres (2,200 km²) of subsurface estate, for a total of 928,000 acres (3,760 km²). As of 2006, CAC has received about 94% of its total entitlement.Chugach Alaska Corporation. (2006)
"The Lands Department."
Retrieved on 2007-03-27.

Business enterprises

Under federal law, Chugach Alaska Corporation and its majority-owned subsidiaries, joint ventures and partnerships are deemed to be "minority and economically disadvantaged business enterprise (43 USC 1626(e)).

History

The corporation filed for

Chapter 11 Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, wheth ...

bankruptcy protection in 1991 as a result of a fallout in the

timber Lumber is wood that has been processed into dimensional lumber, including beams and planks or boards, a stage in the process of wood production. Lumber is mainly used for construction framing, as well as finishing (floors, wall panels, w ...

industry, a

salmon Salmon () is the common name for several commercially important species of euryhaline ray-finned fish from the family Salmonidae, which are native to tributaries of the North Atlantic (genus ''Salmo'') and North Pacific (genus '' Oncorhy ...

glut, a fire at its Orca cannery, and the 1989 Exxon Valdez oil spill's impact on the local herring population. In 2003 Chugach ranked second in ''Alaska Business Monthly’s'' list of Top 49ers, a ranking of the top Alaskan-owned and operated businesses.

References

External links

Chugach Alaska Corporation
(official website). {{Authority control 1972 establishments in Alaska Alaska Native culture in Anchorage Alaska Native regional corporations Companies based in Anchorage, Alaska Companies that filed for Chapter 11 bankruptcy in 1991