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culture & heritage
Under the Alaska Native Claims Settlement Act (ANCSA), the original residents of Chenega Bay received title to approximately 70,000 acres in western Prince William Sound, re-established the village of Chenega, and Chenega Corporation was formed. On March 24, 1989 the Exxon Valdez Oil Spill occurred, spilling 11 million gallons of crude oil in the water of Prince William Sound. Chenega Corporation chose to participate in the Exxon Valdez Oil Spill Trustees Council Program, where large blocks of land harmed by the spill could be sold. In 1997, Chenega sold a portion of its land to the United States Forest Service and the State of Alaska, the “Habitat Transaction”, for $34,000,000. With this, the corporation developed its strategic plan, a part of which included business development in federal government contracting.
Alaska Native Corporations (ANCs) fund an annual budget that insures tribal rights, village resources, and protection of cultural historic sites. ANCs also provide shareholder education, scholarships and training, as well as corporate donations to Chenega Bay Community School students and the Russian Orthodox Church. Funds are also designated for the preservation of Prince William Sound region, culture and language. ANCs pay a higher percentage of their net income as dividends than publicly held
A wholly owned 8(a)-certified subsidiary of Chenega Corporation |
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The Chenega fishing village, founded in the late 1700s, was the longest occupied village in Prince William Sound at the time of the March 27, 1964 earthquake. Soon after the earthquake, a tsunami destroyed the village and killed over a third of the residents. The survivorswere resettled in the villages throughout Prince William Sound.
The Alaska Native Claims Settlement Act (ANSCA) was established to provide for the economic well being of the Alaska Native people.