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Chugach Development Corp history
Chugach Development Corp company history timeline
In April of 1867 The United States purchased Alaska for $7.2 million dollars in gold; roughly two cents an acre.
During 1888, more than 60,000 people arrived in Alaska in search of gold.
In 1900 the Capital of Alaska was moved from Sitka to Juneau.
President Theodore Roosevelt established the Tongass National Forest in 1907.
In 1925 a diphtheria epidemic cripples Nome, Alaska.
In 1944, Alberta Schenck Adams pens an essay in The Nome Nugget about her opposition to Jim Crow laws that had Alaska Native and Caucasian people to sit in seperate sections in the theater.
In February 1945, Elizabeth Peratrovich, a civil rights leader for Alaska Natives, rose to address the Alaska Territorial Senate.
All of Alaska faced a similar situation in 1959 as the new state leaders began selecting the 104 million acres that had been granted in granted in the statehood act.
Remarkably, this included the lands at Prudhoe Bay, between the Arctic National Wildlife Range, established in 1960, and Petroleum Reserve No.
In 1962, following a conference of Inuit people in Barrow discussing the AEC project, Eskimo artist Howard Rock urged the founding of a Native newspaper, to keep people informed on issues important to Native people and their communities.
A massive 9.2 magnitude earthquake rocks the southern portion of Alaska on Good Friday on 1964.
By 1966, title to Alaska land was in complete confusion.
By 1966 more land was under protest than the total number of acres in the state because many Native claims overlapped.
Little progress was made until 1968, when oil was discovered in Alaska's Prudhoe Bay.
In 1968 oil is discovered in Prudhoe Bay and plans begin to build a pipeline to the North Slope to recover it.
Chugach incorporated in 1972 as Chugach Natives Inc.
In 1973, members of the Chugach Natives Incorporated (CNI) Board of Directors met and decided to form a non-profit corporation to advance the overall economic, social and cultural development of the people of the Chugach Region.
In 1974, the North Pacific Rim Native Corporation was incorporated as a not-for-profit to serve the Natives of the communities of Chenega Bay, Cordova, English Bay, Port Graham, Seward, Tatitlek, and Valdez.
The initial Executive Director, Archie Gottschalk, began in 1974.
Chugach bought Cordova's Orca cannery in 1979.
4 (renamed National Petroleum Reserve - Alaska in 1980), and a number of small fish and wildlife refuges.
A worldwide salmon glut proved particularly harmful to the fisheries-dependent CAC. A fire at one of its canneries in Prince William Sound and a botulism scare at another in 1982 also hurt the company.
A 1982 settlement gave Chugach its ANCSA land, plus $12 million cash.
In 1985, two Native corporations failed and were forced into bankruptcy.
CAC obtained $54 million in 1986 from the sale of its net operating losses.
In 1986, the company made plans to begin harvesting timber on its land on the remote Montague Island.
Hoping to capitalize on the positive trends in this sector, CAC purchased another cannery in 1987 on Kodiak Island.
Chugach completes first timber sale, declares first shareholder dividend in January 1988.
Nineteen eighty-six was "a year in which the mistakes and losses of the past were corrected and reversed but not forgotten," CAC's president and CEO Michael Chittick told the Alaska Journal of Commerce in 1988.
In 1988, CAC approved construction of a new sawmill, which had the capacity to produce kiln-dried dimensional lumber, in Seward.
The corporation has grown from 12 employees in 1992 to 1,200 today; 80 jobs are held by shareholders.
CAC's new strategy began to pay off in 1994, when the company won two contracts with the United States government.
1994: CAC secures its first base operation services contract.
Chugach sought minority-preference government contracts, and in 1995, won the contract to operate the United States Air Force facilities at King Salmon.
By 1996, CAC had paid down its debts to $4 million and had a backlog of $300 million in contracts.
1996: Partially CAC-owned venture, Kansas Telecom, wins Alyeska Pipeline contract.
With funding from philanthropist Henry S. Forbes, Rock began the Tundra Times which was published weekly until 1997.
However, CAC was resolute, viewing the matter as one of sovereignty rather than payment. "What this is really about is the federal government keeping its promises," CAC's Brown told National Wildlife in 1999.
In 1999, another of CAC's government services-oriented subsidiaries, Chugach Management Services (CMS), won a base maintenance contract at Kirtland Air Force Base in Albuquerque, New Mexico, worth $170 million.
In 2000, the company paid out a dividend to its shareholders for the first time in 11 years and increased the dividend payment annually thereafter.
2000: CAC obtains easement to access timber stands in Carbon Mountain tract.
Federal court has forbidden further dividends until the company repays $3 million in remaining bankruptcy debts, something CEO Michael Brown hopes to achieve by 2001 with an aggressive recovery plan based on government contracts.
In 2002 the corporations distributed $45.6 million in dividends to shareholders.
CAC won its most significant government services contract in 2002, when it teamed with Lockheed Martin and Bechtel to provide support services for the missile-testing site on the island of Kwajalein in the Marshall Islands.
In 2003, Chugach McKinley won a five-month contract to take over construction operations at Midway Atoll National Wildlife Refuge.
The company's future looked bright. "There are a lot new things on the horizon," Uhart told the Alaska Journal of Commerce in 2003. "Actually business couldn't be better.
In 2004 Native corporation assets totaled $2.9 billion.
The 2019 Chugach Lands Study Act passage opens the door for a potential land exchange opportunity.
© 2022 Chugach Alaska Corporation.
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