Arctic Slope Regional Corporation
Arctic Slope Regional Corporation, or ASRC, is one of thirteen Alaska Native Regional Corporations created under the Alaska Native Claims Settlement Act of 1971 (ANCSA) in settlement of aboriginal land claims. Arctic Slope Regional Corporation was incorporated in Alaska on June 22, 1972. Headquartered in Barrow, Alaska, with administrative offices in Anchorage, Arctic Slope Regional Corporation is a for-profit corporation with nearly 11,000 Alaska Native shareholders primarily of Inupiat Eskimo descent.
In both 2009 and 2008 the company appeared on the list of Top 100 US Federal Contractors, with contracts totalling $637.2 million and $791.2 million respectively.
A current listing of Arctic Slope Regional Corporation's officers and directors, as well as documents filed with the State of Alaska since ASRC'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.
At incorporation, Arctic Slope Regional Corporation enrolled 3,800 Alaska Native shareholders, each of whom received 100 shares of ASRC stock. Amendments to ANCSA in 1988 permitted ANCSA regional corporations to enroll as shareholders Alaska Natives born after 1971, and in 1989 ASRC shareholders chose to do so. ASRC presently has about 11,000 shareholders. As an ANCSA corporation, ASRC has no publicly traded stock and its shares cannot legally be sold.
ASRC holds title to approximately 5,000,000 acres (20,000 km2) of Alaska's North Slope. Most of these lands are highly prospective for oil and gas, coal and base metal sulfides. Some of the lands contain known resource reserves such as the Alpine Oil Field and the Western Arctic Coalfields.
Under federal law, Arctic Slope Regional Corporation and its majority-owned subsidiaries, joint ventures and partnerships are deemed to be "minority and economically disadvantaged business enterprise[s]" (43 USC 1626(e)).
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