At the heart of Chugach Alaska Corporation is a vision of indigenous people running their own businesses on their own land. Chugach Alaska was formed following the activation of the Alaska Native Claims Settlement Act (which was passed by the US Congress in 1971), to provide land management services for the 928,000-acre Chugach region of Alaska. The company derives the bulk of its sales from oil and gas production, mining, commercial timber, and tourist activities that occur in the region and from its engagement in military base construction projects at more than 30 locations in Alaska, the US Pacific Northwest, and the Western Pacific. Chugach Alaska's shareholders consist of Aleut, Eskimo, and Indian natives.
In late 2010 the company's Chugach Alaska Services unit won a renewal of its existing oil spill prevention and response contract with Alyeska Pipeline Service Company. The new contract to service the Alaska Pipeline runs from 2011 to 2016.
In 2011 the company's Chugach World Services secured a $32 million contract (with the option for an additional $33 million) for housing and maintenance operations at Naval Base Guam and Andersen Air Force Base Guam.
Developing and sustaining multiple revenues streams has been a key to the company's growth. In 2010 Chugach Alaska announced that in order to continue to grow it would up its engagement in Alaskan gas natural gas projects and diversify into markets that are not traditional for the company, such as the niche market of environmentally responsible guided tourism.
Chugach Alaska was founded in 1972 as an Alaska Native Claims Settlement Act Corporation. A nine-person board of directors, elected from the corporation's more than 2,300 shareholders oversees Chugach Alaska's management and operations. The company has gone from filing bankruptcy protection in 1990 (in the wake of the Exxon Valdez oil spill and a major cannery fire) to generating about $1 billion in annual revenues. – less