Nearly 30 Years Later: The Alaska Native Claims Settlement Act.

• Author: PARDES, JOAN

This 1971 act, signed into law by President Nixon, brought wealth, land and hope to Alaska's Native people.

Twenty-nine years ago, the business playing field of the Last Frontier changed dramatically. And like most decisions regarding Alaska, it was the oil that made the country sit up and take notice. After the black liquid was discovered in Prudhoe Bay in 1968, legend has it that Joe Upicksoun, an Arctic Slope Native and spokesman for the Alaska Federation of Natives, told oil company executives eager to develop the trans-Alaska oil pipeline, "Not one drop of oil, not one inch of pipe will come from the Arctic Slope until the Native Claims Settlement Act is settled." Three years later, Congress passed the unprecedented Alaska Native Claims Settlement Act.

In exchange for their long-debated aboriginal land claims, Alaska Natives received 44 million acres of land and $962.5 million to establish 13 regional corporations. In addition, 220 village corporations were created and each enrolled Alaska Native received 100 shares of both a regional and village entity. John Hope, a Tlingit and Juneau resident involved in land claims, described the years that followed the ANCSA settlement as such: "It's like you and I never saw a baseball game in our lives. We'd never seen mitts or bats or baseballs. All of a sudden you were told, 'Here are your mitts. Here are your bats. Here are your balls. Tomorrow, you play the Yankees.'"

Despite the inherent problems of ANCSA, some of the Native corporations grew to become all-star players not only in Alaska but also in the Lower 48.

On top of the world, Arctic Slope Regional Corp. is the largest Alaskan owned company. Currently, the corporation is involved in aerospace, construction, manufacturing, engineering, communications, capital financing, plastic plants, oilfield services and petroleum refining and distribution. Within the next year, ASRC plans to expand into fiber optic installations and specialty engineering. "Our goal is to be a billion dollar company by 2001. Our directors made that a vision and a dream and we'll probably attain it," said the company's first vice president, Oliver Leavitt. In 1998, the company generated almost $900 million in revenues, with a net income of more than $28 million. "The company is on a steady course," said Leavitt. "I think we'll get to that billion dollar mark."

Down in Southeast, Sealaska Corp. is comprised of 16,000 shareholders and is the largest private landowner in...