Arctic Slope Regional Corporation (ASRC)

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.

Inupiaq Culture:

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 Corporations:

ASRC and its family of companies, operates four diverse major business segments that extends into the petroleum refining and marketing, government services, energy services and construction industries. In addition, ASRC has other businesses and a resource development segment that are financially very important.

ASRC Energy Services performs an array of oilfield engineering, operations, maintenance, construction, fabrication, regulatory and permitting, and other services for some of the world’s largest oil and gas companies. The company provides services to the energy industry throughout Alaska, the Gulf of Mexico, Russia and Canada. With nearly 5,000 employees, AES has emerged as one of Alaska’s largest oilfield service providers.

ASRC Federal Holding Company, and its subsidiaries, provides a wide range of professional and technical services to the federal government, including aviation, space and missile defense, base and range operations and maintenance, resource and development, engineering, information technology, financial management, and other services. ASRC Federal companies operate in 36 states across the country and in several locations overseas.

Petro Star Inc. is the only Alaskan-owned refining and fuel marketing operation in the state. Two refineries, strategically positioned along the Trans-Alaska Pipeline, serve Alaska’s unique fuel needs throughout Interior Alaska, Southcentral Alaska, Kodiak and Dutch Harbor. The North Pole facility supplies the mining industry and provides home heating oil to many communities in the interior region of Alaska, while the Valdez refinery produces and transports marine fuels to coastal communities.

ASRC Construction Holding Company, LLC (ACHC) oversees and supports six complementary construction subsidiaries that provide construction services to commercial and government clients in Alaska, the Gulf of Mexico, other U.S. regions, and overseas. ACHC companies provide general contracting and construction management services to a wide range of clientele in both the commercial and governmental sectors. Each ACHC company has its unique focus in the construction industry, yet with the full technical, logistical, and personnel support and resources of the entire organization.

Alaska Growth Capital BIDCO is a recognized leader in economic development finance, providing small business loans and investments in economically underserved areas of Alaska. Nationally recognized for championing economic development and diversity in rural markets, AGC makes an extra effort to assist businesses that are rural, minority owned, or technology based. Reflecting that commitment, Alaska Growth Capital has been a major lender to the rural and low–income regions of Alaska that are often underserved by the traditional banking system.

ASRC Lands:

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:

Some of the corporation’s shareholders live outside of the region in Alaska, with a small number residing in the Lower 48 states.

Leading Causes of Death in the Arctic Slope Region

Between 2009-2013, 224  people died in the Arctic Slope Region. The top 5 causes of death were:

1) Malignant Neoplasms (63)
2) Diseases of the Heart (30)
3) Unintentional Injuries (24)
4) Chronic Lower Respiratory Diseases (8)
5) Intentional Self-Harm (Suicide) (5)