Article Courtesy of Alaska Business Monthly - September 2017 Edition
The Eyak Corporation (TEC) is the Alaska Native Village Corporation for the community of Cordova, Alaska. TEC celebrated its 43rd birthday in July 2017, and, as noted by CEO Rod Worl, “is in excellent health.” As an Alaska Native Corporation, TEC’s purpose extends beyond profits. Its mission is to provide for present and future shareholders while protecting its lands and fostering cultural heritage.
TEC and its subsidiaries have had the honor of providing services to the Federal government. TEC’s subsidiaries have broad capabilities and have recently acquired new projects to deliver cyber security, land mobile radio infrastructure, medical services, and base information technology support solutions. Although government contracting is a valued and significant income stream for TEC, the corporation has diversified into businesses outside of government contracting to reduce risk and expand operational performance. Those investments have been in entities whose business lines are consistent with TEC’s mission. For example, in 2011 TEC acquired an ownership interest in Native American Bank (NAB), which provides financing to Native individuals, Alaska Native Corporations, tribes, and Native enterprises. More recently, TEC invested in Baxter Senior Living, LLC, which is developing an assisted living/memory care facility in Anchorage. The facility will address the underserved market for elder housing in Alaska while providing a hiring preference for qualified TEC shareholders.
TEC is actively exploring additional investment opportunities in Alaska. Ideally, those opportunities will enhance Native communities throughout the state, while returning financial benefits to TEC’s shareholders.
As a result of TEC’s successes through government contracting and other investments, TEC is able to support community activities in Cordova, including an annual cemetery cleanup; a monument to recognize Veterans; and donations to support the Native Village of Eyak’s elder programs and cultural center.
As seen in September 2017
