Bering Strait’s Native Wealth: A Lifeline for Alaskan Communities
They live in a remote, unforgiving region, yet the people of Bering Strait have forged a path to prosperity through their native corporation, Bering Straits Native Corporation (BSNC). BSNC, a testament to their resilience and entrepreneurial spirit, has become an economic engine for the region, transforming the lives of its people.
From Challenges to Opportunities
The people of Bering Strait have long endured the harsh realities of their environment. Isolation and lack of infrastructure hindered economic development, leaving many in poverty. However, instead of succumbing to despair, they embraced the Alaska Native Claims Settlement Act of 1971, which provided land and financial compensation to indigenous Alaskan communities. BSNC was formed as a result of this act, creating a pathway to self-sufficiency for the region.
Purpose and Mission
BSNC’s primary goal is to create economic opportunities for the Bering Strait communities. Through its business ventures, the corporation invests in sectors such as oil and gas, real estate, and telecommunications, generating revenue that is shared with its shareholders. By fostering job creation and economic development, BSNC empowers the people of Bering Strait to build a prosperous future for themselves and their families.
Key Points: Bering Strait Native Corporation and Alaskan Economic Empowerment
- BSNC was formed under the Alaska Native Claims Settlement Act of 1971, providing land and financial compensation to indigenous Alaskan communities.
- BSNC invests in various industries, including oil and gas, real estate, and telecommunications, creating economic opportunities for Bering Strait communities.
- The corporation’s business ventures generate revenue that is shared with its shareholders, fostering economic empowerment and self-sufficiency.
- BSNC is a lifeline for the people of Bering Strait, transforming their lives through job creation, economic development, and shared prosperity.
Bering Straits Native Corporation: A Legacy of Empowerment and Sustainable Growth
Introduction
Nestled in the western coast of Alaska, the Bering Straits Native Corporation (BSNC) stands as a beacon of economic empowerment and sustainable development for the region’s Inupiat Eskimo and Siberian Yupik communities. With a mission to enhance the lives of its shareholders and preserve their cultural heritage, BSNC has become a driving force in the socio-economic development of the Bering Strait region.
Historical Roots
The roots of BSNC can be traced back to the Alaska Native Claims Settlement Act of 1971, which granted land and financial compensation to Native Alaskan communities to resolve land claims. In 1972, the Bering Straits region’s 3,000 Inupiat and Siberian Yupik shareholders established BSNC as their regional Native corporation.
Land and Resources
As part of the land claim settlement, BSNC received approximately 2.3 million acres of land in the Bering Strait region. These lands include diverse ecosystems ranging from tundra and wetlands to coastal plains and mountains. BSNC actively manages its land holdings, balancing resource development with environmental preservation.
Economic Development
BSNC has played a pivotal role in driving economic growth in the Bering Strait region. Through its subsidiaries, the corporation operates a wide range of businesses, including:
- Oil and gas exploration and production
- Mining, including zinc and copper
- Construction and engineering
- Hospitality and tourism
- Renewable energy
Shareholder Benefits
BSNC’s primary objective is to benefit its shareholders. The corporation distributes regular dividends and allocates a portion of its profits to education, healthcare, and other community programs. Shareholders also have access to land and resource use rights, as well as employment opportunities.
Environmental Stewardship
BSNC recognizes the importance of preserving the pristine environment of the Bering Strait region. The corporation has established comprehensive environmental policies and practices to minimize its impact on the land, air, and water. By embracing sustainable development practices, BSNC ensures the long-term well-being of both the environment and its shareholders.
Cultural Preservation
Beyond its economic pursuits, BSNC is deeply committed to preserving the cultural heritage of its shareholders. The corporation supports programs that promote traditional Inupiat and Siberian Yupik languages, arts, and customs. By fostering cultural continuity, BSNC helps future generations connect with their ancestral roots.
Education and Workforce Development
BSNC invests heavily in education and workforce development initiatives to empower its shareholders and the broader community. The corporation provides scholarships, apprenticeships, and training programs to help individuals acquire new skills and advance their careers. By equipping shareholders with the knowledge and tools they need to succeed, BSNC contributes to the economic prosperity of the region.
Community Engagement
BSNC actively engages with the communities it operates in, supporting local organizations and initiatives that enhance the quality of life for residents. The corporation provides funding for healthcare, housing, social services, and cultural events. By partnering with communities, BSNC fosters a sense of belonging and empowers residents to shape their own futures.
Partnerships and Collaboration
BSNC believes in the power of collaboration and fosters partnerships with government agencies, businesses, and non-profit organizations. By leveraging its resources and expertise, BSNC amplifies its impact and contributes to the broader development of the region.
Innovation and Technological Advancement
BSNC embraces innovation and technological advancements to drive sustainable growth. The corporation actively invests in research and development, seeking new and innovative ways to optimize its operations and contribute to the region’s economic prosperity.
Conclusion
The Bering Straits Native Corporation is a shining example of how Native Alaskan communities can harness their resources and cultural heritage to achieve economic empowerment and sustainable growth. Through its diverse businesses, environmental stewardship, cultural preservation, and community engagement initiatives, BSNC plays a vital role in improving the lives of its shareholders and the broader Bering Strait region.
FAQs
- Who are the shareholders of BSNC?
- The shareholders of BSNC are Inupiat Eskimo and Siberian Yupik residents of the Bering Strait region.
- What is the primary objective of BSNC?
- The primary objective of BSNC is to benefit its shareholders by generating revenue and distributing it in the form of dividends and community programs.
- How does BSNC contribute to environmental sustainability?
- BSNC has established comprehensive environmental policies and practices to minimize its impact on the land, air, and water.
- What role does BSNC play in cultural preservation?
- BSNC supports programs that promote traditional Inupiat and Siberian Yupik languages, arts, and customs.
- How does BSNC engage with the community?
- BSNC actively engages with the communities it operates in by supporting local organizations and initiatives that enhance the quality of life for residents.