Sealaska infuses millions into southeast Alaska economy

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JUNEAU, Alaska – According to a new report, Sealaska Corporation, Sealaska Timber Corporation and the Sealaska Heritage Institute spent a combined $41 million in 2007 in southeast Alaska. The report, “The Impact of Sealaska Corporation on the Southeast Alaska Economy,” was recently released by the McDowell Group, based in Juneau.

Sealaska, southeast Alaska’s regional Native corporation, weaves business with culture for the benefit of communities and the environment. Headquartered in Juneau, Sealaska represents nearly 20,000 tribal member shareholders. Nearly half live in southeast Alaska.

Payroll and the purchase of goods and services contributed to the spending throughout the region. According to the report, 350 businesses or organizations in 19 regional communities benefited from the Native corporation’s related activities in 2007.

“Sealaska’s contribution to the region’s economy is vital and the report illustrates the importance of Sealaska’s success within the region.” said Sealaska President and CEO Chris E. McNeil Jr.

McNeil emphasized that there are significant challenges in sustaining an economy in southeast Alaska.

“Sealaska is committed to diversifying the economy and creating new business opportunities. Sealaska’s land legislation is one opportunity to build an economic platform. We see this as the biggest economic stimulus package for the region. Nearly half of our shareholders call Southeast home and we want a vibrant region where there is opportunity to thrive both in the rural and
urban communities.”

The report highlights that Sealaska and its contractors directly employed approximately 421 full- and part-time workers in 2007 in the region. Sealaska and its contractor employment make the corporation one of the largest for-profit, private-sector employers in the region.

The full report can be found at www.sealaska.com.

Sealaska is the Southeast Alaska Native Corporation weaving business with culture for the benefit of communities and the environment. Formed under federal law in 1971, the corporation is owned by approximately 20,000 tribal member shareholders of Tlingit, Haida and Tsimshian descent. Sealaska has successful business worldwide in multiple industries.