Ukpeagvik Inupiat Corp.

• Author: Orr, Vanessa
• Position: Top Guns * Alaska's Top 49ers

2003 Top 49er Ranking: 11

Position Last Year: 15

2002 Revenues: $117.72 million

Number of Employees: 400

When Ukpeagvik Inupiat Corp. was formed in 1973, little did the people of Barrow know that 30 years later, it would be the largest of Alaska's village corporations-boasting 400 employees, $118 million in revenues and offices in Barrow, Anchorage, Seattle and several other cities in the Lower 48.

With business interests ranging from construction to engineering to real estate development and now tourism, the corporation has grown through diversification. It owns a number of subsidiaries, including Barrow Technical Services Inc., LCMF, Bowhead Holding Co., Bowhead Transportation, Bowhead Eagle, Harpoon Construction Group Inc., UIC Construction, Ukpik Mechanical, Rain Proof Roofing, Nuvuk Construction, Emerald Consulting, UIC Development Co. and Umialik Insurance Co.

Max Ahgeak, president and CEO, credits the company's success to both the eiders who established the corporation and to the shareholders who keep it running. "I thank the leaders who came ahead of us for giving a direction to the company and for staying faithful to our Inupiat values," he said. "I also thank our shareholders, who are our No. 1 resource. They are always willing to offer guidance and to knock on my door to find out what's going on."

"The key to our success comes down to having good leadership early on," added Scott Danner, special assistant to the president. "They established a sound business and we built from there, applying Inupiat values to a Western business model."

This willingness to communicate with each other and to work as a team has enabled UIC to enter new markets and to take on new challenges. Despite a stagnant economy, the corporation increased revenues between 2001 and 2002 by $50 million.

"Each of our subsidiaries experienced growth, but the majority of the revenue increase came from Bowhead Holding Co. and its subsidiaries," said Ahgeak. "Bowhead has been in government contracting for several years and they showed significant growth this past year."

According to Ahgeak, the corporation's decision to enter into the Small Business Administration's 8(a) certification arena (government contracting) was the result of weakening business prospects on its home front. "Most of our big customers were declining and there wasn't much business happening on the North Slope," he said. "So we decided to diversify into 8(a) in the areas where we were already...