Koniag Inc

Description

Koniag, Inc. is one of 13 regional Native corporations established by Congress under the terms of the Alaska Native Claims Settlement Act (ANCSA) to settle the aboriginal land claims of Alaska Native people. ANCSA provided for conveyance of land and seed capital to Native for-profit corporations representing various geographic regions of the state.Koniag was incorporated on June 23, 1972, and is owned by approximately 3,400 Alutiiq shareholders who originate from Kodiak Island. Koniag's original share of the ANCSA settlement was $23 million and vast acreage of surface and subsurface estate. The corporation has offices in Anchorage and Kodiak, Alaska. Koniag's approach to corporate business has evolved to meet new challenges, expanding opportunities and the needs of its shareholders. Its early business plans focused on natural resource utilization, primarily in the fisheries industries.In the late 1980s and '90s, much of Koniag's operations centered on the timber industry. In the late 1990s the company reduced its focus on timber and natural resources as its primary source of income. Koniag's 10-year plan focuses on more diversified investments in four areas: operating companies with high potential for growth and return, sound real estate opportunities, a balanced securities portfolio and venture capital.

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