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Regional corporations celebrate 30 years. (Alaska Native Business News).

Article Excerpt
State economists have referred to them as the "bright spots" of Alaska business. The Alaska Native regional corporations have diverse holdings, with subsidiaries operating in virtually every industry imaginable--from the crude oil well below ground to the stars above.

In only 30 years, these 13 regional corporations have become a viable force in the state's economy. The Great Experiment, it seems, has proven itself.

The turning point was in 1971. For years, Alaska Natives had fought with the state and federal governments over lands. Then, in the late 1960s, oil was discovered. With billions of dollars potentially in the ground, talks to settle the land claim dispute grew more serious, and more compromising.

Those with one-fourth or more Alaska Indian, Eskimo or Aleut blood who were living when the bill was enacted could enroll in one of 12 Alaska-based regional corporations and in a corporation representing their village.

The result was the Alaska Native Claims Settlement Act of 1971, where Natives extinguished their aboriginal claims. In return, the act provided $962.5 million and 44 million acres of land. Regional and village corporations were established to oversee land selections and the management of the money. By the end of June 1972, the 12 Alaska-based regionals had incorporated.

ANCSA said those living outside the state could vote on whether to establish their own regional corporation or they could enroll in another corporation. Nearly 4,800 said they wanted their own. On...