Sealaska Corporation is the largest of thirteen Alaska Native Regional Corporations created under the Alaska Native Claims Settlement Act of 1971 (ANCSA) in settlement of aboriginal land claims. Sealaska was incorporated in Alaska on June 16, 1972. Headquartered in Juneau, Alaska, Sealaska is a for-profit corporation with more than 22,000 Alaska Native shareholders primarily of Tlingit, Haida, and Tsimshian descent. In 1981 Sealaska Corporation sponsored the creation of the non-profit Sealaska Heritage Foundation, now the Sealaska Heritage Institute, which manages its cultural and educational programs. Sealaska’s primary economic drivers are natural resources, land management, environmental services and seafood.
Mission and ValuesEdit
Sealaska works to strengthen its communities and lead the way for sustainable business practices. It's business ethic follows a triple-bottle-line model which considers not just financial performance but also social and environmental impacts. As an Alaska Native Regional Corporation pursuant to ANCSA, it serves shareholders indigenous to Southeast Alaska, with common values and ancestries. Those values inform the way it conducts business, such as working together; honoring its ancestors, descendants, and lands; humility, respect, and transparency; and creating value while maintaining focus, clarity, and drive.
At incorporation, Sealaska enrolled 15,782 Alaska Natives, each of whom received 100 shares of Sealaska stock. Approximately 1,800 additional Alaska Natives have since received Sealaska stock through inheritance of shares or gifting. As an ANCSA corporation, Sealaska has no publicly traded stock and its shares cannot legally be sold.
Sealaska shareholders voted on June 23, 2007 to enroll qualified descendants of original shareholders by issuing them 100 shares of life estate stock in Sealaska. However, unlike shares of original shareholders, the new shares would expire on the descendant's death and could not be willed or gifted. To be eligible, descendants must be children or grandchildren of original Sealaska shareholders, must be of at least one-quarter Alaska Native descent, and must not be a member of any other regional corporation unless through inheritance or gift. Sealaska is one of the few ANCSA Regional Corporations to elect to enroll descendants and allot them shares.
Sealaska has established a Permanent Fund, comprising investments in stocks, bonds, real estate and private equity funds, as a source of shareholder dividends.
Sealaska reinvests a significant portion of its earnings back into its community-oriented subsidiaries Spruce Root and Sealaska Heritage Institute, as well as offers its own opportunities for young shareholders. Program offerings include things like scholarships for both full- and part-time students, wellness and culture camps, summer internships, and the Board Youth Advisor position. To learn more about these and other career opportunities, visit the Sealaska website.
From ANCSA section 14, Sealaska owns approximately 290,000 acres (1,170 km2) of surface estate and 560,000 acres (2,270 km2) of subsurface estate in Southeast Alaska. Despite having the most shareholders of any regional corporation, it received the least amount of land in the 44 million acre settlement. Sealaska received a second conveyance of land, approximately 65,000 acres, as a result of advocacy in Congress. Sealaska's current land holdings in Southeast Alaska are roughly 1.6 percent of the traditional homelands that the Tlingit, Haida, and Tsimshian people inhabited for more than 10,000 years. There are also five traditional communities that were left out of the original ANCSA conveyance. Sealaska is working to get these communities the land due to them.
Sealaska’s primary economic drivers are natural resources, land management, environmental services and seafood.
Natural Resources and Land Management
As part of its commitment to preserve its lands while still creating value for its shareholders, Sealaska has a robust land management program.
- Carbon Sequestration Program: a new sustainable model for forest stewardship built on the understanding that in today's economy, a forest's value can be greater than the sum of its parts. Under this program, Sealaska has placed a large portion of its timber holdings in to the California Cap-and-Trade Carbon Offset Project.
- Sealaska Timber Company: though once a significant source of Sealaska's earnings, STC is now only a small part of Sealaska's businesses. Sealaska remains committed to responsibly manage and harvest timber from its lands.
In addition to the management of its own lands, Sealaska seeks out business opportunities that align with its core values, especially where they work to protect air and water quality and the health of streams and waterways.
- Sealaska Government and Commercial Services: a leader in construction, engineering, and data analytics working to address some of the most challenging environmental issues on land and in waterways. Some examples of its work include building launch pads for data gathering balloons, installing a renewable energy system for NOAA, and restoring a favorite Juneau recreation area while improving salmon habitats.
- Gregg Drilling: a national leader in geotechnical drilling and water remediation. It works to diagnose and solve many of the hydrological threats to our oceans.
Sealaska works not only to protect the health of the oceans but also its inhabitants. Protecting fisheries and practicing sustainable food sourcing is critical to its long-term vision to support future generations.
- Orca Bay Foods: a company that brings quality, value, and innovation to its line of low impact protein products. It focuses on wild seafood from Alaska, crab, frozen vegetable products, and a new line of vegan protein products that can be found at grocery stores throughout the United States.
- Independent Packers: an industry leader in seafood processing. It specializes in the efficient conversion of all species of Seafood into high value retail products, that ultimately help improve the health of fisheries and the ocean as a whole.
- Corporations Database. Sealaska Corporation. Division of Corporations, Business & Professional Licensing, Alaska Department of Commerce, Community and Economic Development. Retrieved on 2007-03-18.
- Bluemink, Elizabeth. (2007-03-18). "Sharing Sealaska corporation with eligible descendants: Owners will vote on whether to add thousands to their corporation." Anchorage Daily News, pp. F1, F5. Retrieved on 2007-03-18.
- Sealaska Corporation (official website). Retrieved on 8/12/2019
- "About Us". Sealaska Heritage Institute. Retrieved 7 June 2010.
- "About". Sealaska. Retrieved 2019-08-12.
- "About". Sealaska. Retrieved 2019-08-12.[verification needed]