Big plans for Eklutna Inc.: Eklutna Inc. will unveil new projects, including partnership with CIRI and ACI.

• Author: Martin, Gary L.
• Position: SPECIAL SECTION: 2006 NATIVE BUSINESS NEWS

Eklutna Inc. is a Native corporation for the Village of Eklutna (a derivative of Idluytnu), which is located at the mouth of the Eklutna River, about 25 miles northeast of Anchorage.

While the Dena'ina Athabascan village can trace its history back some 800 years, Eklutna Inc. came into being in 1972. It was formed under the Alaska Native Claims Settlement Act, to manage the assets and business ventures for its 150 shareholders.

Headquartered in Eagle River, Eklutna Inc. is doing well. Besides owning significant amounts of property in the Mat-Su Valley, it also owns 90,000 acres in Eagle River. It also possesses shopping centers and office buildings, both in Anchorage and Eagle River. In addition, Eklutna Inc. owns several residential developments in various stages of construction.

Within the past three years, Eklutna Inc. has ventured out of Alaska. Currently, they have partnerships with developers in Arizona and California, and are considering similar investments in the future.

"The story I'd like to tell," said Bill Price, general manager, "is that we are under some carefully controlled growth.

"I give a lot of credit to the members of our current board of directors for the support we are getting. They have given us permission to venture out to these new areas outside of Alaska, something that would never be considered just a few years ago.

"Of course we aren't just jumping into these situations; like I said, it is carefully controlled growth. I'm very conservative and so is our board."

Price, formally the corporation's CEO, was asked to come out of retirement and take his new position as general manager. He says that while they are looking at ventures outside Alaska, Eklutna's primary efforts will remain within the state. Projects include residential housing developments in Eagle River, restoration of the river near the village-which includes reestablishing a fishery-and starting a gravel and rock business to support the construction market throughout the Anchorage Bowl.

Eklutna Inc. also has been approved for the Small Business Administration's 8(a) Program. It gives small, minority-owned businesses an added advantage when applying for federal contracts. Companies owned by tribes or Alaska Native corporations receive the added flexibility of being able to receive sole-source contracts of unlimited value.

Price says this is probably the most exciting thing to happen to Eklutna Inc. It will open many new doors, leading to a more solid and...