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Web posted
The Cordova-based village corporation has diversified into some exciting new fields, including a subsidiary that has a working relationship with scientists from Drexel University in Philadelphia. For years, timber harvesting was Eyak's No. 1 business. But not any more. "We logged for 10 years, and now we don't log," said Chief Executive Officer Brian Lettich.
"We do utilize the expertise that Drexel carries," Lettich said. "It is an exciting partnership. "Drexel University brings scientists that specialize in aquatic biology and geology and things that Eyak can use to do environmental assessment and restoration." According to a report on America's best colleges for 2004 in "U.S. News & World Report," Drexel's College of Information Science and Technology program is ranked ninth overall and No. 1 nationally for specialized programs. And Drexel's undergraduate engineering program is the nation's largest among private universities. Another new subsidiary, Eyak Technology (EyakTek), completed its first full year of operation with revenue of more than $1 million. Established in January of 2002, EyakTek provides information technology solutions to government agencies. EyakTek has gotten out of the gate quickly. It more than doubled its workforce in 2003, growing from 15 to 33 employees. And about 30 percent of its revenue has come from professional and technical services. "We're excited about things that have happened there," Lettich said. Keith Gordaoff, EyakTek president and CEO, listed some of the company's other successes for 2003. "We improved our infrastructure, further established ourselves in the marketplace, demonstrated strength as an independent company, and conducted multiple community involvement activities," Gordaoff said. "We are very pleased with our results this past year, especially since our company's success benefits our Alaska Native community." Jim Dunn, EyakTek's COO, also was pleased, especially in a year of mixed financial results for federal government service providers. "Our positive results in 2003 reflect the solid relationships we have built with our customers and partners," Dunn said. "And the hard work and dedication of our employees certainly contributed to our success." EyakTek is a prime example of the evolution taking place at the corporation as a whole, Lettich said. "We're coming through a transition period from resource development into investment management, and now we're adding government contracting," Lettich said. The corporation was almost totally reliant on resource development until the mid-1990s, Lettich said. Two of Eyak's three subsidiaries, EyakTek and Eyak Development, are recognized by the U.S. Small Business Administration as 8(a) firms entitled to bidding preferences on federal contracts. Lettich hopes the success of EyakTek can be repeated elsewhere in the corporation. "The message is that we are actively seeking partnerships for our 8(a) subsidiaries," Lettich said. "If we can do something similar with Eyak Development and Eyak Environmental Science, we are poised in the next 12 months to meet our goals of providing economic benefits to the corporation and its shareholders," Lettich said. In addition to improving shareholder returns, Eyak works to bring jobs back to Cordova, provide scholarships and protect cultural heritage. Based in Cordova, the Eyak Corporation is a 30-year-old Alaska Native village corporation formed in 1973 pursuant to the Alaska Native Claims Settlement Act. It has 394 shareholders, 43 employees, owns 92,000 acres of land and operates three subsidiaries. Its work includes construction, environmental services, property management and information technology. Eyak is one of five village corporations in the Chugach region. The majority of the 326 original shareholders were of Aleut descent. Eyak was named to honor the area's Eyak Natives, who as a group were decimated by disease and poverty as a result of the development of Cordova by peoples of European descent. Eyak Natives are related to Athabascans who moved from the Interior to the coast near the mouth of the Copper River long ago, according to the AP Stylebook for Alaska. Squeezed by the Chugach culture to the west and the Tlingits to the southeast, and exploited by the whites who moved into the area, there are only a handful of Eyaks left. Today, there is only one Native speaker still alive, said Lettich. The language is nearly extinct and survives today only in written records. When originally formed, Eyak was entitled to 148,730 acres as part of the Alaska Native Claims Settlement Act. In 1998 Eyak sold a large portion of its land to the federal government and State of Alaska through the Exxon Valdez Oil Spill Trustee Land and Habitat transaction.
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