ASRC's mission is to
actively manage our businesses, our lands and resources, our
investments, and our relationships to enhance Iñupiaq cultural and
economic freedom - with continuity, responsibility, and integrity.
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. The past 40 years has been a time of
growth and diversification for ASRC. Although Arctic Slope Regional
Corporation had humble beginnings, and there was a time the company’s
leaders worked for no pay, it is now the largest Alaskan-owned company –
with approximately 10,000 employees worldwide. It has been the largest
locally-owned and operated business in Alaska for the past 17 years.
ASRC is a private, for-profit corporation that is owned by and
represents the business interests of its 11,000 Iñupiat Eskimo
shareholders in the villages of Point Hope, Point Lay, Wainwright,
Atqasuk, Barrow, Nuiqsut, Kaktovik, and Anaktuvuk Pass. Some of the
corporation’s shareholders live outside of the region in Alaska, with a
small number residing in the Lower 48.
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. ASRC is proud of the dividend distributions to its
shareholders. Since inception, ASRC has distributed more than $543
million in dividends to shareholders. ASRC shareholders have benefited
from employment, education and training opportunities. Since 2000 ASRC
has distributed more than $90 million to support a wide range of
socio-economic opportunities. In 2009, ASRC employed 3,141 Alaskans.
From 2005-2009, ASRC donated nearly $15 million to nonprofit,
charitable causes. ASRC also makes investments in its Native community
through two nonprofit organizations, the Arctic Slope Community
Foundation and the Arctic Education Foundation.
ASRC is poised for the next era of growth with continued dedication to provide maximum benefit to the ASRC shareholders.
ASRC and its family of companies operate five diverse lines of business:
• Energy Services
ASRC Energy Services, Inc.
• Petroleum Refining and Marketing
Petro Star Inc.
• Government Services
ASRC Federal Holding Company
ASRC Construction Holding Company, LLC
• Resource Development
Through deliberate investments, positive operating developments
and our continued focus on cost control and efficiency, each of our
business segments continue to grow.
ASRC’s other operations include three strategically owned businesses
focused on supporting economic development on the North Slope.
• Financial and Lending Services
Alaska Growth Capital, BIDCO
• Local Services
Tundra Tours, Inc.
Alaska Growth Capital BIDCO is a recognized leader in economic
development finance, providing small-business loans and investments in
economically underserved areas of Alaska. Alaska’s only BIDCO, Alaska
Growth Capital, offers consulting services that range from strategy and
planning for entrepreneurs to investment banking, and supports ASRC’s
strategy for economic development in our region.
Barrow-based companies Eskimos, Inc. and Tundra Tours, Inc. are two
of ASRC’s first business ventures. Eskimos, Inc. serves as a fuel and
parts distributor to remote locations throughout the North Slope. Tundra
Tours, Inc. owns the Top of the World Hotel located in Barrow, Alaska.
Both companies provide local services and employment opportunities to
ASRC shareholders and residents on the North Slope.
KEY FACTS AT A GLANCE
• 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, ASRC 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
• ASRC distributed nearly $35.5 million in wages to its shareholders in 2010.
• Since 2005, ASRC has distributed an average of $16 million each year in benefits to its shareholders in the form of
educational scholarships and community support funding, as well as training and development. This distribution
topped $20 million in 2010.
• ASRC has distributed more than $543 million in dividends to shareholders since its incorporation in 1972.
OUR HERITAGE AND OUR SHAREHOLDERS
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
Iñupiaq know hard work at a cultural level. In our faces you can
see the strength, determination and a spark of inventiveness that flows
from the very roots of the Iñupiaq culture. ASRC combines this with
disciplined business practices to deliver high levels of performance and
returns. The vast majority of ASRC’s shareholders call Alaska’s North
Slope home, where generations of Iñupiat have raised their families.
Others live outside of the region, with a smaller number residing in the
lower-48. Many shareholders engage in subsistence lifestyles, and urban
Iñupiat often return to their village to partake in seasonal hunting
and whaling traditions. About 40% of our shareholder base is under the
age of 18. Creating higher educational opportunities for this group is a
The corporation supports scholarship programs through the Arctic
Education Foundation, and has joined in partnership with Ilisaġvik
College to strengthen job skill sets for residents of the North Slope.
Internship opportunities are also available at ASRC to shareholders
enrolled in higher education programs. In addition to formal education,
the cross-generational transmission of values to the region’s younger
generation is vital to the community. ASRC supports cultural, youth and
community events that promote that heritage, and provides opportunities
for youth to engage with their elders. Handing down Iñupiat traditions
and values to the next generation is at the bedrock of ASRC’s success,
as the corporation relies on the wisdom of the region’s elders to build a
cadre of future leaders.
ASRC continually tracks shareholder hiring and advancement goals
enterprise-wide, overseeing shareholder hiring, training and career
advancement, and maintains a dynamic shareholder database to help
coordinate community placement programs with employers outside of ASRC.
The corporation provides advice and support to shareholders during the
hiring and advancement process and works in close coordination with
corporate and subsidiary HR organizations to advance skill sets, safety
and overall employee quality throughout the company.