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Discover how First National helps Integrity Environmental bring innovative and effective solutions to Alaska and the Pacific Northwest.
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Shape Your Tomorrow
Member FDIC | NMLS #640297 | Equal Housing Lender
December 2025 | Volume 41 | Number 12 | akbizmag.com

Contents

The proven playbook to grow a business from $10M to $50M
By Christian Muntean
Exit strategies for aging owners
By Tracy Barbour
Alaska Hand Rehabilitation celebrates four decades of positive physical therapy
By Vanessa Orr
Nuniaq Community Center: A place to shelter, celebrate, and learn
By Nancy Erickson and Mariah Oxford
Avis Alaska ends 70 years of family ownership
By Alexandra Kay
An economic asset for all road users
By Rachael Kvapil
Moving freight here, there, and everywhere
By Rachael Kvapil
UAS attracts out-of-state students with in-state tuition
By Vanessa Orr
UAS
UAS attracts out-of-state students with in-state tuition
By Vanessa Orr
UAS
Three college aged young adults, two men and one woman, wearing backpacks walk down a paved path in a park with a large totem pole and tall trees in the background.
The proven playbook to grow a business from $10M to $50M
By Christian Muntean
Exit strategies for aging owners
By Tracy Barbour
Alaska Hand Rehabilitation celebrates four decades of positive physical therapy
By Vanessa Orr
Nuniaq Community Center: A place to shelter, celebrate, and learn
By Nancy Erickson and Mariah Oxford
Avis Alaska ends 70 years of family ownership
By Alexandra Kay
An economic asset for all road users
By Rachael Kvapil
Moving freight here, there, and everywhere
By Rachael Kvapil

About The Cover

Aleut regional corporation has so much cool stuff going on, it’s hard to know where to start. Well, in 1783 the Shelikhov-Golikov Company enlisted UnangaX-hat‚ hunters to procure sea otters for the Russian fur market, introducing a cash economy to the place that would become the state of Alaska. Then in 1799…

For a more condensed (and up-to-date) report, this month’s cover story “From Scarcity to Abundance” by Jamey Bradbury describes the new tack for Aleut into energy, retail, finance, tourism, and high tech. CEO Skoey Vergen, a self-described “IT nerd,” is empowering his team to capitalize on assets like the disused US Navy base at Adak, pictured in silhouette with a gleam of potential illuminating the island. The Aleutian region, where the modern world first touched Alaska, is pointing the way into tomorrow.

Photography by Kerry Tasker

Cover Design by Patricia Morales

Alaska Business Logo
Volume 41, #12
Alaska Business (ISSN 8756-4092) is published monthly by Alaska Business Publishing Co., Inc. 501 W. Northern Lights Boulevard, Suite 100, Anchorage, Alaska 99503-2577; Telephone: (907) 276-4373. © 2025 Alaska Business Publishing Co. All rights reserved. No part of this publication may be reproduced without written permission from the publisher. Alaska Business accepts no responsibility for unsolicited materials; they will not be returned unless accompanied by a stamped, self addressed envelope. One-year subscription is $39.95 and includes twelve issues (print + digital) and the annual Power List. Single issues of the Power List are $15 each. Single issues of Alaska Business are $4.99 each; $5.99 for the July & October issues. Send subscription orders and address changes to circulation@akbizmag.com. To order back issues ($9.99 each including postage) visit simplecirc.com/back_issues/alaska-business.

From the Editor

I

’m of the generation that grew up watching Bob Ross make “happy accidents,” seeing the value and beauty of overly exuberant or unintended brush strokes. This December issue feels like one of those happy accidents—including an initial momentary panic.

I originally planned several articles and features that didn’t work out, for one reason or another, making my mid-October a little frantic as I worked to pull an issue together that felt like it was falling apart.

For example, this month’s construction story about the Nuniaq Community and Tsunami Shelter, “Old Harbor Welcomes Its New Heart,” replaces an article that just had bad timing; the originally planned article remains a great idea, but December ended up being the wrong issue. “Old Harbor Welcomes Its New Heart” allows us to feature a collaboration of several Alaska Native organizations, linking it to the special section; to highlight a project that fosters community growth and provides a gathering space and shelter to residents in time of need; and to credit the incredible constructors and transporters who got the job done.

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Get connected. Get help.
United Way of Anchorage logo
211 is more than a number. It’s Alaskans’ connection to help and hope in times of disaster or everyday challenges.
EDUCATION
Alaska Unlocked
UAS attracts out-of-state students with in-state tuition
By Vanessa Orr
Three people sitting on a wooden dock on a calm lake in Alaska, with snow-capped mountains and evergreen forests in the background.
UAS
Alaska Unlocked
UAS attracts out-of-state students with in-state tuition
By Vanessa Orr
P

aying for a college education is an investment. But for many students, the cost of in-state versus out-of-state tuition can determine where they enroll. This is especially true in Alaska, where cost and distance often determine whether out-of-state students can afford to matriculate to the 49th State.

UAS has met this challenge head-on by introducing the Alaska Unlocked initiative to make its campuses throughout Southeast financially accessible to students who aren’t Alaska residents. Beginning with the 2026 fall semester, out-of-state undergraduates will pay in-state tuition—a savings of approximately $14,472 per academic year.

“UAS has wanted to offer in-state tuition for all undergraduate students for some time,” says Vice Chancellor of Enrollment Management and Student Affairs Lori Klein. “It is a risk; it is a revenue loss. But we need to open up pathways to bring in students from other places.”

University of Alaska Fairbanks

Corporate Partnerships
Corporate Partnerships

Support your employees as they enroll in one of UAF’s in-person degree or certificate programs, or a fully online program with UAF eCampus. Empower them to get one step closer to their career goals — on their schedule, wherever they are.

Why Partner with UAF?

  • 10% tuition discount for eCampus courses.
  • Accredited education from anywhere in the world.
  • Customize full or partial payment plans for employees.
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UAF is an affirmative action/equal opportunity employer, educational institution and provider and prohibits illegal discrimination against any individual: www.alaska.edu/nondiscrimination/.04/2025
Professional Services
Beyond Ten
The proven playbook to grow a business from $10M to $50M
By Christian Muntean
Watercolor illustration of a man in a business suit riding a mountain bike, with a dynamic, gray and white background fade.
Firefly | Adobe Stock
Beyond Ten
The proven playbook to grow a business from $10M to $50M
By Christian Muntean
O

ver the past decade, I’ve worked with dozens of companies—mostly in Alaska—to scale from $10 million to $50 million and beyond. Several are approaching $100 million.

These aren’t tech startups. They don’t sell software. Most are in construction. Some are in healthcare. Others are in traditional markets. Many have doubled or tripled revenue in three to five years. Several grew their valuations by ten times.

None jumped on bandwagons or fads to do it. AI didn’t drive their growth. They didn’t “rise and grind” their way to financial success (and lose their health or family in the process).

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Helping navigate
ANCSA
for over 40 years.

ANCSA Resource Center | ancsa.LBBLawyers.com

Come
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Events | Concerts | Conferences | Conventions | Banquets | Meetings | Trade Shows | Weddings | In-house Catering | Equipment Technology

Anchorage Convention Centers
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ASM Global is the world’s leading producer of entertainment experiences. It is the global leader in venue and event strategy and management – delivering locally tailored solutions and cutting-edge technologies to achieve maximum results for venue owners. The company’s elite venue network spans five continents, with a portfolio of more than 350 of the world’s most prestigious arenas, stadiums, convention, and exhibition centers, and performing arts venues.
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Strength in Partnership.
Expertise in Protection.
IMA’s team of local professionals delivers personal service rooted in Alaska’s business landscape, with the scale and innovation of a national firm. Together, we build tailored insurance and risk management solutions that move your business forward with confidence.
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Insurance | Employee Benefits | Surety | Wealth Management
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Finance
It’s Never Too Early to Plan to Sell
Exit strategies for aging owners
By Tracy Barbour
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Suwatchai | Adobe Stock
It’s Never Too Early to Plan to Sell
Exit strategies for aging owners
By Tracy Barbour
A

bout half of all business owners are 55 or older, according to the US Census Bureau. As they approach retirement age, a significant financial transition looms on the horizon. However, a well-planned exit strategy can help owners protect, build, and harvest wealth when they transition, ensuring the efficient transfer of business value to their personal legacy.

Sadly, about 80 percent of business owners will not be prepared to make a successful exit from their company, according to Certified Exit Planning Advisor (CEPA) Wendy Claussen. But they can improve their chances by adopting a build-it-with-the-end-in-mind approach. “They should always be thinking about their exit,” says Anchorage-based Claussen, the owner of Horizon Trek. “Exit planning is present tense; it’s not something to do later. It’s a value multiplier.”

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Celebrating 35 Years of Investment in our Neighbors
For 35 years, we have had the privilege of serving the people and businesses that power Alaska. As we mark this milestone, we want to thank the loyal customers, talented employees and growing communities for their commitment to us and our mission as Alaska’s Community Bank.

We are proud of our past and excited for the future.

northrim.com | (907) 562-0062
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Healthcare
Handy
Helpers
Alaska Hand Rehabilitation
celebrates four decades of
positive physical therapy
By Vanessa Orr
Close-up photo of two hands gently performing a therapeutic massage or assessment on the wrist and back of a third hand.
Johnstocker | Envato
Handy Helpers
Alaska Hand Rehabilitation celebrates four decades of positive physical therapy
By Vanessa Orr
A

ny business that makes it to the forty year mark deserves a hand, and that is especially apropos as Alaska Hand Rehabilitation (AHR) celebrates its fourth decade in business this year. Established in 1985 by licensed occupational therapist and certified hand therapist Linda Glick, what started as a very small, one-person clinic in Anchorage grew to become a much-beloved employee-owned practice that recently moved into a new, larger location designed to serve more patients in the community.

Sharing Vision
“When Linda decided to retire in 2020, she had a number of options,” explains AHR President and Clinical Director Jean Keckhut. “She could sell to a big company or sell to another practice or individual, but she didn’t want the vision for the company to change. She wanted to preserve it and believed it could be done through an ESOP [employee stock ownership plan].”
Construction
Old Harbor, New Heart
Nuniaq Community Center: a place to shelter, celebrate, and learn
By Nancy Erickson and Mariah Oxford
UIC Nappairit
R

oughly 850 miles separate Utqiaġvik, at the northernmost tip of the North American continent, from Old Harbor, a village south of Kodiak. In Lower 48 terms, that’s as far as Minneapolis, Minnesota, from Dallas, Texas—farther, even, because no year-round roads connect to Utqiaġvik, and Old Harbor is, of course, on an island. But that separation can’t prevent each community’s village corporations from working together.

Ukpeaġvik Inupiat Corporation (UIC) subsidiary UIC Nappairit completed work in March on the Nuniaq Community Center and Tsunami Shelter, fulfilling a long-held vision in Old Harbor for a gathering place during times of celebration and times of danger.

Known as “the people who build,” UIC Nappairit specializes in remote projects involving dynamic challenges of extreme climates, complicated logistics, and minimal resources. The Nuniaq Center fit the bill perfectly.

Logos of several companies displayed in a horizontal layout, including Manitowoc, Grove, National Crane, and Western Pacific Crane & Equipment, all shown in red and white against a transparent background.
ALASKA NATIVE
Aleut
Alaska Native
A
laska Native corporations are an industry unto themselves. They even have trade groups, the ANCSA Regional Association and the Alaska Native Village Corporation Association. Corporations formed under the Alaska Native Claims Settlement Act of 1971 have prospered in the last half century, finding success in federal contracting, oil and gas services, and various commercial ventures.

This section includes a visit to the Kodiak Archipelago for a snapshot of the diverse investments and returns of its regional and village corporations. To the west, Aleut has been a tempest of activity worthy of its region’s nickname, setting the pace for its counterparts. Alaska Native corporations are the industry that contains all other industries.

Aleut
Alaska Native
ALASKA NATIVE
From Scarcity to Abundance
Aleut grows in the birthplace of winds
By Jamey Bradbury
Aleut
T

he Aleutian Islands have a rugged landscape. There are no trees, no roads, no large game animals, and not many resources.

“It’s barren, it has harsh weather,” describes Skoey Vergen, president and CEO of Aleut, the Alaska Native corporation (ANC) for the region west of Port Moller on the Alaska Peninsula, all the way to Attu Island. For thousands of years, he adds, the Unangax̂ people of the Aleutians lived out of scarcity; all energy and effort was put into survival.

“That mindset still persists. And when I got here, that mindset of scarcity included how we invested in and supported our subsidiaries,” Vergen says.

Navigating Alaska's Toughest Waters
Reliable Marine Transport, Since 1924
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Got a Project
in Mind?
www.cookinlettug.com
Call Us Today: (907) 248-0179. Email Us Anytime: info@cookinlettug.com.
Preserving cultures and enhancing communities, represented by Schwabe.
Schwabe supports the missions of Alaska Native Corporations by working to maximize economic growth and protect ancestral lands.

Pair this knowledge with human, approachable legal services, and you’ll see what it means to be represented by Schwabe.

Preserving cultures and enhancing communities, represented by Schwabe.
Schwabe supports the missions of Alaska Native Corporations by working to maximize economic growth and protect ancestral lands.

Pair this knowledge with human, approachable legal services, and you’ll see what it means to be represented by Schwabe.

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Schwabe, Williamson & Wyatt P.C.
420 L Street, Suite 400
Anchorage, AK 99501
(907) 339-7125
Schwabe, Williamson & Wyatt P.C.
420 L Street, Suite 400
Anchorage, AK 99501
(907) 339-7125
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A Tradition
of Belonging
Connecting and supporting
Alaska Native corporation
shareholders
By Rindi White
Koniag
W

hen the Alaska Native Claims Settlement Act (ANCSA) established the scaffolding for regional and village corporations, it was with the intent that those corporations support the roughly 74,000 Alaska Native shareholders enrolled by 1973.

ANCSA set out guidelines about who could be shareholders: blood quantum requirements and a cut-off date for eligibility. Shareholders had to be born on or before 11:59 p.m. December 18, 1971—the day ANCSA was signed into law—to be eligible to hold shares.

The legislation left it up to corporations to figure out how to connect with shareholders, how to give them a voice in governing the new corporations, or what shareholder benefits should look like. Nearly 200 village and regional corporations operating today have developed a range of approaches to communication, often led by shifting demographics and evolving needs of their shareholder base.

wise counsel
ADVISING ALASKA NATIVE CORPORATIONS FOR OVER 25 YEARS
With over two decades of history in the Anchorage community, Dorsey & Whitney provides full-service legal counsel to clients in Alaska and beyond. Backed up by the resources of an international law firm with over 650 attorneys across 22 offices, we offer global reach, local resources, and deep experience representing Indian tribes and Alaska Native corporations. Making us a wise choice for smart businesses everywhere.
Top Ranked Law Firm in Alaska, 2024 Best Law Firms (BL Rankings LLC); Leading Firm, 36 Practices Recognized, Chambers USA 2024; Legal Elite, 3 Anchorage Lawyers Honored, Alaska Business 2024
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Proudly Alaskan, Proudly Iñupiaq
At UIC, Alaska isn’t just where we do business—it’s who we are. As an Alaska Native Corporation, our roots run deep in the land, culture, and people of Utqiaġvik and our state.
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UIC—Thriving Together in the Arctic and Beyond.
907.852.4460 | uicalaska.com
Alaska Native
Moving Forward Together
Regional cooperation amplifies Alaska Native corporations
By Nancy Erickson
Young person wearing waders and gloves demonstrating the traditional technique of filleting a fish to a group of onlookers on a rocky beach.
Bristol Bay Native Corporation
R

epresenting peoples and cultures that long predate the Alaska Native Claims Settlement Act of 1971 (ANCSA) under which they were established, the twelve regional corporations are fundamentally unique in terms of environmental challenges, corporate purposes, and structures.

The twelve regional Alaska Native corporations (ANCs) are Ahtna; Aleut; Arctic Slope Regional Corporation; Doyon, Limited; NANA; Koniag; Sealaska; Bering Straits Native Corporation; Calista Corporation; Cook Inlet Region, Inc. (CIRI); Bristol Bay Native Corporation (BBNC); and Chugach Alaska Corporation.

The passage of ANCSA ushered in a new era for Alaska Native people, sorting them into commercial enterprises quite different from Indigenous societies. They would ascend to profitability through individual grit and cooperative aid.

Alaska Native

Old Values Inform a Strong Future

The ‘forever corporations’ of the Kodiak archipelago

By Christi Foist

Kristina Woolston | Old Harbor Native Corporation
K

nown as Alaska’s Emerald Isle, Kodiak—the state’s largest island—brings together great beauty, diverse wildlife, and the challenges of a remote archipelago with a significant military history.

Under the Alaska Native Claims Settlement Act of 1971 (ANCSA), Congress established both a regional corporation and several village or urban corporations for the Kodiak archipelago. These latter entities include Afognak Native Corporation, Akhiok-Kaguyak, Inc., Leisnoi, Natives of Kodiak (NOK), Old Harbor Native Corporation (OHNC), and Ouzinkie Native Corporation.

“One of the things that makes the Kodiak region very unique and a joy to work in is that the Native organizations across our region work in unity,” says Shauna Hegna, president of Koniag regional corporation. “We are constantly collaborating with the village corporations, the nonprofits, the tribal health organizations, and our tribes to improve the quality of life in our communities.”

Alaska Native
Taking Care of Business
Regional corporations score achievements for shareholders and communities
By Terri Marshall
Bristol Bay Native Corporation
A

laska Native corporations (ANCs) build stronger communities by creating jobs, investing in education and culture, and promoting sustainable growth. Their profits support dividends, scholarships, and local programs, helping preserve Alaska Native heritage for future generations. In this round-up, some of the twelve regional ANCs share recent news, projects, and the ongoing benefits for their communities.

Celebrating Success
The only Alaska-based company to earn a spot on Forbes’ list of America’s Top Private Companies is Arctic Slope Regional Corporation (ASRC), which for thirty-one years in a row has ranked as the #1 Top 49er, which are Alaska companies ranked by gross revenue.
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Alaska Business Business Profile

Providence’s New Mobile Mammography Coach

Screening Made Simple

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B

enefits managers can now schedule onsite mammograms, saving employees time and preserving productivity.

Providence Imaging Center is excited to announce the launch of its new Mobile Mammography Coach, designed to make life-saving breast cancer screenings more accessible than ever. For benefits managers, this innovation offers a unique opportunity: you can bring high-quality mammography directly to your employees, eliminating the need for them to take paid time off and helping your organization preserve productivity.

Small Business
Passing the
Keys to Employees
Avis Alaska ends 70 years of family ownership
By Alexandra Kay
Mumemories | Envato
A

fter seven decades as Alaska’s oldest and largest family-owned car rental company, Avis Alaska has made a decision that speaks volumes about its commitment to the Last Frontier. The company is now 100 percent employee owned through an employee stock ownership plan (ESOP).

It’s a move Andrew Halcro, the former co-owner who quarterbacked the transition alongside his two older sisters, describes as the perfect solution to a complex puzzle. “We had to meet the expectations of three different generations,” he explains. “How do you get the first and second generations their maximum value and provide the runway for the third generation to get their maximum value? That’s the math problem you have to solve.”

Taking the generations out of the equation puts the company to work for a different set of stakeholders.

Material Flow and Conveyor Systems Inc.
Toll Free
877-868-3569
Phone
907-868-4725
Fax
907-868-4726
SALE ON MANY PRODUCTS USED/SURPLUS RACKING, CONVEYORS, CONV. BELTING, SHELVING, PLASTIC BINS, LIFTS, CASTERS & MUCH MORE.
6112 Petersburg St.
Anchorage, AK 99507
Visit Our Website:
www.materialflow.com
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Alaska 511
An economic asset for all road users
By Rachael Kvapil
O

n Alaska’s highways, drivers can go hours before finding wayside amenities. Whether commuting the Glenn Highway or trucking on the Richardson Highway, an everyday drive raises questions about road conditions, traffic, visibility, and incidents. The answers are centralized in one mighty tool in the Alaska Department of Transportation and Public Facilities (DOT&PF) kit: Alaska 511, a website and mobile app.

Those three digits have been designated for traveler information since 2000. Since then, states have implemented their own systems to be accessed by that phone number. Much as 811 (designated in 2005) forewarns excavators about buried utilities, 511 prepares travelers for the hazards over the hill and around the bend.

Prathanchorruangsak | envato
TRANSPORTATION
907 Logistics
Moving freight here, there, and everywhere
By Rachael Kvapil
KPs Photography | Adobe Stock
C

asey “Maverick” Kubitz understands how difficult it is to get around area code 907. As a youth, Kubitz played hockey in Anchorage, which means a lot of road games in remote areas. Growing up, he learned about the difficulties of keeping Alaska’s supply chain secure and unimpeded.

The situation grew worse during the COVID-19 pandemic. “I saw firsthand the challenges of moving goods in and out of Alaska,” says Kubitz. “Local businesses, the people that keep our communities alive, were constantly squeezed by high costs, delays, and outside control of our supply lines.”

Kubitz decided to find a solution that would benefit Alaska. Launched in February 2020, 907 Logistics provides full truckload, less-than-truckload, refrigerated, flatbed, and heavy-haul freight. It also manages barge and port coordination to transport items into Alaska, and it offers government and military freight management through its parent company, Maverick Logistical Consulting.

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Jumpstart your Chugach career
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For logistics professionals, fall is a critical time. As you review your contracts
and plan your shipping strategy for 2026, the question isn’t just about rates.
It’s about creating custom solutions so you can serve your Alaska customers with
faster, better, and more consistent service.
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Reach and Reliability

Span Alaska’s owned network of terminals and equipment provides direct access to ~80% of Alaska’s population. This infrastructure ensures reliable, flexible service with tight control over quality and transit times.

Single-Source Solutions

LTL, Chill and Freeze, Hazmat and oversized cargo? We handle it all, managing all modes of transportation—LTL, truckload, rail, ocean, and air—to provide a single chain of control for dispatch, shipping, tracking, and billing.

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Destination Direct™

Our direct, non-stop routing from our West Coast Service Centers to key hubs in Alaska improves transit times, minimizes handling, and reduces the risk of damage.

First Mile to Final Mile

Leverage our logistics team to schedule pick up of your shipment from anywhere in the Lower 48 and schedule day-definite delivery throughout Alaska within our standard 1–2 days of vessel arrival.

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The Safety Corner
Safety Training
Write it, review it, follow it
By Sean Dewalt
Sean Dewalt delivers a risk management training segment at Learn to Return in Anchorage

Patrick Nephew| Learn To Return

A

n effective safety culture for any business has several components. Safety managers and risk professionals generally agree that safety training is a crucial aspect to reducing risk and improving production. Without specific, effective, and personalized training, employees are exposed to an environment without the tools necessary to conduct the tasks in a manner that will keep them from getting injured or worse. Training is more than just checking regulatory boxes- it is a moral obligation to protect the most valuable asset any organization has—the human worker. Safety culture in the workplace should always go beyond enforcing policies and ensuring employees follow protocols. Empowering workers to understand and recognize exposures and dangers in their daily job tasks and to be able to report, correct, and control these hazards is of the utmost importance. Quality training is the baseline for that knowledge set, and there are ways and means to ensure that this information is conveyed and received correctly. Good safety training incorporates an understanding of individual learning styles; the ability to connect and communicate with the participants; informative, current information that is relevant to the workplace; hands-on demonstrations; and ways to ensure that the information has been received and retained.

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totemaritime.com
Inside Alaska Business
Bushes Bunches
A new farm family is taking over Bushes Bunches. Zach and Karianne Smith are the new owners of the Palmer-area vegetable grower. Bruce and Vickie Bush, operators of the Bushes Bunches Produce Stand on Old Glenn Highway, have been stalwarts in the region; Bruce Bush is credited with developing the Bushes Peanut Potato variety. Zach Smith picked potatoes for the Bushes in his teens and early 20s, and Karianne spent a few seasons in Bushes’ fields too. The Smiths moved to Michigan to manage Karianne’s family dairy farm until last year. Now, Karianne says, “We are extremely determined to have a successful farm, uplift the industry, and to serve the community.”

bushesbunches.com

Aleut | Doyon Limited
While tribes near Nome await consultation on a mining project at Graphite Creek, Alaska Native regional corporations are taking a combined $5 million equity stake in mine developer Graphite One. This fall, Aleut and Doyon, Limited joined Bering Straits Native Corporation as shareholders of the Canadian company. Aleut President and CEO Skoey Vergen is especially interested in graphite’s role in renewable energy. “It opens up the potential for future opportunities in Alaska that could benefit our region,” he says. Graphite One plans to use proceeds from the investments to pay for environmental studies and other work needed to secure permits.

aleutcorp.com | doyon.com

This Alaska Business
Refining minerals from the ocean seems like an obvious pivot for Alaska Mining & Diving Supply, yet the motorcraft dealership’s co-owner Nick Olzenak spun off Prince William Sound Salt Company by happenstance. Boating frequently out of Whittier, he and his wife noticed the potential in seawater for seasoning. With another couple, they set up a business to harvest water from 200 feet deep. Inside a room kept warmer than 100°F, the water evaporates from a dozen 200-gallon totes. Snowy white crystals are then combined with flavors, such as locally grown rhubarb, into sixteen varieties of culinary salt.

Part 37 of an ongoing video series.

Right Moves
Northrim Bank
Headshot photograph of Mike Huston smiling
Huston
A charter employee of Northrim Bank since its founding in 1990, Joe Schierhorn celebrates his retirement this month. Schierhorn has been stepping away from leadership positions since 2022, when Mike Huston succeeded him as President. Huston was named CEO last year, and now he takes over for Schierhorn as Board Chairman. Huston joined Northrim Bank in 2017 from First Interstate Bank in Billings, Montana.
Matson
Upon the promotion of Matson’s top Alaska executive Vic Angoco to Executive Vice President, Operations in Walnut Creek, California, the company elevated some new leaders.

Alaska Trends

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mployee stock ownership plans (ESOPs) are on the rise. In different industries, two articles this month spotlight employee-owned businesses. Vanessa Orr reports in “Handy Helpers” that Alaska Hand Rehabilitation founder Linda Glick sold her practice to her employees in 2020. And “Passing the Keys to Employees” by Alexandra Kay describes how the ESOP that owned 15 percent of the Avis Alaska franchise upped its stake to 100 percent, while the Halcro family retains its legacy on the board of directors.

While a relatively rare form of ownership in Alaska now, ESOPs are positioned as an enticing option for the generation who established businesses during the pipeline boom of the ‘70s and are reaching retirement age. Another article this month, “It’s Never Too Early to Plan to Sell” by Tracy Barbour, shows how the considerations involved in selling a business in the first place might point to an ESOP as an elegant exit.

Alaska companies with partial or full ownership by ESOPs range in size from 5 participants at Environmental Health Sciences-Alaska in Eagle River to the 245 at Alaska Power & Telephone Company, which manages small utilities statewide. Familiar storefronts such as Sagaya Corporation and Alaska Mining & Diving Supply are employee-owned as well. This does not count out-of-state ESOPs with Alaska offices, such as Kiewit, JD Steel, HDR, or Graybar.

What book is currently on your nightstand?
The Personal Librarian by Marie Benedict and Victoria Christopher Murray.

What’s the first thing you do when you get home after a long day at work?
Wash dishes. Hot, sudsy water. It’s relaxing.

What’s your greatest extravagance?
My family does too much DoorDash.

What charity or cause are you passionate about?
Anything to do with housing. And services for underprivileged youth; sports are such a big thing.

If you could domesticate a wild animal, what animal would it be?
They’re supposed to be wild, but… my daughter one time asked if we could raise moose.

Dena Sommer-Pedebone, a grinning woman with black hair pulled back is running on a treadmill inside a bright, modern gym; She is wearing a black fitness workout t-shirt and a chrome colored smartwatch with a blue band on her left wrist; Other treadmills and exercise equipment are visible in the blurred background
What book is currently on your nightstand?
The Personal Librarian by Marie Benedict and Victoria Christopher Murray.

What’s the first thing you do when you get home after a long day at work?
Wash dishes. Hot, sudsy water. It’s relaxing.

What’s your greatest extravagance?
My family does too much DoorDash.

What charity or cause are you passionate about?
Anything to do with housing. And services for underprivileged youth; sports are such a big thing.

If you could domesticate a wild animal, what animal would it be?
They’re supposed to be wild, but… my daughter one time asked if we could raise moose.

Photos by Kerry Tasker

Off the Cuff

Dena Sommer-Pedebone
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here the Yukon River plunges southward, four villages merged corporations to form Gana-A’Yoo, “friends together” in Koyukon Athabascan. Dena Sommer-Pedebone was born after shareholder enrollment, so the Gana-A’Yoo CEO carries the perspective of a tribal descendant. She studied marketing at UAF, and a career in grant administration led back to the corporation. “I’ve always fallen into leadership, management-type positions, starting as soon as I got out of college,” she says.

Now she gets to reconnect with her grandparents’ heritage in Nulato and share it with her daughters. Sommer-Pedebone says, “I’ve found that, during my time in this role, I really enjoy interacting with the younger people.”

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