The Alaska Native
Claims Settlement Act of 1971 (ANCSA) was passed by Congress
to compensate the indigenous people of Alaska for the U.S.
Government’s use of their native lands and natural resources.
In addition to monetary compensation for the 12 native tribes,
ANCSA established a system of corporate ownership of assets
to ensure that financial benefits continue to accrue to the
native Alaskan people. Subsequently, each of the native tribes
and villages formed Alaska Native Corporations (ANC’s),
with the shares being held exclusively by the indigenous people.
ANCs were created and mandated to become economic development engines in each region of Alaska. ANCSA also includes provisions that grant ANC’s unique
status as contractors to the U.S. Government. This income is vital to the thousands of shareholders who benefit from this contracting. Through the
Small Business Administration’s 8(a) program and applicable
Federal Acquisition Regulations (FAR), ANC’s are capable
of generating income for their shareholders by providing a
variety of products and services to the Government. These
provisions offer several benefits to Government agencies,
depending on their procurement needs, and help agencies fulfill Federal procurement mandates and goals.
ANCs and the Government each benefit from their collaboration: |
