top 49ers special section
Alaska Business has been publishing a Top 49ers list since 1985, our first year of operation, though at the time the list was branded as “The New 49ers.”

Cover design by Judy Clark Hartwig

top 49ers special section
Alaska Business has been publishing a Top 49ers list since 1985, our first year of operation, though at the time the list was branded as “The New 49ers.”

Cover design by Judy Clark Hartwig

Epic Earnings
Decades of Top 49er history
By Tasha Anderson
General Manager Jason Martin crashed his way into my office about a fortnight ago, frothing at the mouth and waving a sheaf of printed spreadsheets. “Anderson!” he spluttered, slamming his hammy fists on my desk, knocking pens and crusty coffee cups onto the floor. “What in tarnation is going on here?”

Wiping some spittle off my face, I took a quick peek at the papers still crushed in his grasp, praying to catch a glance of a word or a number I could extrapolate into an answer that might send him packing. “Top 49ers” and “1998” flashed in my view, and I quickly stifled a sigh of relief. “Of course, Mr. Martin,” I said, sweet as grandma’s cookies. “That’s historic Top 49ers data.”

“Obviously!” he bellowed, turning red in the face and testing the tensile strength of his necktie. “Why’s it in the vault?”

Well, because you put it in the vault, I thought. “I have no idea, sir,” I said.

“Use it!” he choked out, throwing the pages in my face and lumbering away from my desk.

So, here’s some historic Top 49ers data.

49ers To The Future
Until 1999, the list was branded as “The New 49ers” or “The Alaskan 49ers.” The first use of today’s branding, “Top 49ers,” appeared in the editorial content of the 1999 special section and on the cover in 2000.

Cover design by Brian Dixon;
Photography by Clark James Mishler

Alaska Business launched the Top 49ers special section in 1985, the same year we published our first issue. Then-Publisher Robert Dixon described the first cohort of Top 49ers as “the private players who have put everything on the line, defied the economic odds-makers with all-star performance on a field where opportunity is said to be fading. They’re the forty-nine largest Alaskan-owned and Alaska-based companies, and they’ve achieved their victories largely without the backing of multinational corporations or big government… It’s a long way from Northern Lights Boulevard to Wall Street, but The New 49ers have proven themselves all-star material in anyone’s league by winning consistently on the toughest playing field of all.”

From 1985 to 1990, the theme actually stayed the same year over year: The New 49ers. In 1991, we developed “Prospecting for the Top 49; Finding Alaska Gold” as the first theme that would change annually thereafter. Then-Editor Judith Fuerst Griffin wrote in her introduction to the special section: “Thanks to all who’ve helped us identify and recognize the successful miners of the 49th State’s commerce and natural resources. The new 49er companies—their owners, managers, and employees—are precious as gold to the state’s economy.”

Today gathering information from the Top 49ers is a huge undertaking on the part of our Customer Service Representative (and survey extraordinaire) Emily Olsen, who manages our primarily online data collection; but in 1991 then-Assistant Editor Clifford Gerhart “tracked new leads and formerly listed companies via mail, telephone, and fax, as well as through independent research,” according to Griffin.

Starting with the first directory, the information published included the company name, headquarters city, revenue, number of Alaska employees, subsidiaries, and business activities, and in 1985 we also ranked the Top 49ers by Alaska employees. In that very first edition, the number one spot was filled by Carr-Gottstein Co., which reported revenue of $355 million and 2,250 employees, also making it the company with the largest number of employees. As a comparison, that same year the forty-ninth Top 49er was Alaska United Drilling, which reported $22 million in revenue and listed 134 employees. In 1985, 16 percent of the Top 49ers were Alaska Native Corporations, and at the time they were all regional corporations. Highest on the list was Sealaska, which landed in the number 2 spot that year. In total in our first year, the Top 49ers reported revenue of nearly $3 billion and 18,999 Alaska employees.

Since 1985, Alaska Business has featured 201 unique Top 49ers.

From 1985 through 2005, companies were asked only for their number of Alaska employees, and in that time frame the total number of Alaska employees reported was 449,806. Starting in 2006, Alaska Business required and published the number of worldwide employees and Alaskan employees. From 2006 through this year, the Top 49ers reported a total of 327,827 Alaskan employees and 940,116 (including Alaska) worldwide employees. So through the history of the Top 49ers, these companies have reported a total of 1.4 million employees.

In 2019, as a group, the Top 49ers reported north of $17 billion in 2018 revenue, which is the highest group total in Top 49ers history. Total combined revenue for all of the Top 49ers has never dropped below $2 billion and it surpassed $11 billion in 2007. Not adjusting for inflation, since 1985 the Top 49ers have reported massive total revenue of $488 trillion, which, if adjusted for inflation, would be… even more. (This kind of math is complicated; I’m an editor.) [General Manager’s Note: Nice excuse, Anderson. Pure laziness!]

Several of the 2019 Top 49ers made their debut on the first Top 49ers list in 1985: Anchorage Chrysler Dodge, Calista Corporation, Doyon, Bristol Bay Native Corporation, Seekins Ford Lincoln, Usibelli Coal Mine (UCM), Arctic Slope Regional Corporation (ASRC), NANA, and First National Bank Alaska (FNBA). The last four—UCM, ASRC, NANA, and FNBA—have been ranked as a Top 49er every single year.

The New 49ers
Though not shown on the cover, the first Top 49ers theme, “Prospecting for the Top 49: Finding Alaskan Gold,” appeared in 1991 in the editorial content of the special section.

Cover design by Connie Hameedi

UCM has moved up and down the rankings throughout the years, hitting its top rank in 1989 at number 18; however, the company’s highest reported revenue was $112 million in 2013. In a 1996 profile about UMC, freelance writer Julie Stricker reported that production at the time was 1.5 million tons per year. Last year UCM celebrated its 75th anniversary, stating “Much has changed over the decades, but the pioneering spirit of Emil Usibelli [UCM’s founder] still guides the company today. We look forward to producing affordable energy, while protecting the quality of environment, for many decades to come.”
The New 49ers
The 1988 October cover was actually illustrated by Gary Skeen, the magazine’s then-art director.

Cover design by Gary Skeen

FNBA joined the Top 49ers in 1985 with reported revenue of just under $76 million, ranked at number 9. In a 1988 profile of FNBA, then-President D.H. Cuddy said: “The bank’s responsibility is to serve the community in which it’s located to the limit of its capital, deposits, and personnel.”
ASRC originally landed in the Top 49ers at rank 13 in 1985, reporting just under $55 million in revenue and a total of 400 employees. ASRC moved steadily up the ranks year over year until 1995, when it hit the number 1 slot—from which it hasn’t moved—reporting $466 million. That was an 83 percent jump from 1994, when the company was ranked number 2 and reported $255 million in revenue. In a 2000 profile on ASRC, then-President Jacob Adams pledged that ASRC would reach $1 billion in sales by the end of the year, and sure enough in 2001 the company reported just more than $1 billion in revenue in 2000.
NANA hit the billion dollar milestone in in 2008, reporting $1.2 billion in revenue for the 2009 Top 49ers list, which landed them at number 3. When the company entered the Top 49ers in 1985, it was at number 28 with $32 million in revenue. NANA has been ranked at number 2 or 3 for more than a decade, with peak revenue reported in 2012 and 2013 at $1.8 billion. NANA’s largest jump in revenue was reported in 2000: the company’s 1998 revenue of $65 million more than doubled to $135 million in 1999.

In a 1988 profile of FNBA, then-President D.H. Cuddy said: “The bank’s responsibility is to serve the community in which it’s located to the limit of its capital, deposits, and personnel.” He echoed this statement in a profile that ran in October 2001, when he said, “Our first responsibility is to our depositors. Our next responsibility is to serve the communities in which we are located. And thirdly, we look after the employees of the bank.” FNBA joined the Top 49ers in 1985 with reported revenue of just under $76 million, ranked at number 9. Throughout the bank’s history on the Top 49ers list, its workforce has always been 100 percent Alaskan.

The largest Alaskan companies
In 1986 then-Staff Writer Judith Fuerst wrote: “Today’s Top 49ers don’t rely on picks, axes, and sluices. Their tools are wit, marketing skills, and financial management.”

Cover design by Judy Clark;
Illustration by Jarrett Holderby

Many other companies have made a splash on the Top 49ers list, though for some it was a relatively short lived stay. Twenty-six Top 49ers made one appearance in the rankings without a repeat performance, including several from the original list: Alaska Commercial Co., Alaska Pacific Bancorp, D&A Supermarkets, Lease Kissee Construction Co., Wein Air Alaska, and Yukon Office Supply. The 1985 introduction to the special section notes that Alaska Pacific Bancorp, Yukon Office Supply, and Wein Air Alaska were all acquired by outside companies in 1995, making them ineligible for later rankings.
The New 49ers New Horizons
The theme for the 1993 Top 49ers was “New Horizons”; the cover features an image by Rex Melton, courtesy of the Alaska Division of Tourism, of a storm over Denali.

Cover design by Brian Dixon

The historic Top 49er that’s been operating in Alaska the longest is Alaska Electric Light & Power, which serves approximately 17,500 people in Juneau; the utility (today ineligible as it’s owned by Lower 48-based Avista) was established in Alaska in 1893 and was listed as a Top 49er in 1987 and 1988.
Other notable one-time Top 49ers are Brice Inc. in 1991, Allen & Peterson in 2000, The Alaska Club in 2002, Denali State Bank in 2004, Fairbanks Memorial Hospital in 2006, and PND in 2016. (There are three newcomers in 2019 that technically fit this bill, but we expect to see more of them in the future, so we anticipate they won’t fit these criteria for long.)

The historic Top 49er that’s been operating in Alaska the longest is Alaska Electric Light & Power, which serves approximately 17,500 people in Juneau; the utility (today ineligible as it’s owned by Lower 48-based Avista) was established in Alaska in 1893 and was listed as a Top 49er in 1987 and 1988.

While most long-term Top 49ers move up and down in the rankings, several made huge leaps up the list. Harbor Enterprises, Klukwan, and Chugach Alaska all jumped up 22 spots in the ranks in 1987, 1987, and 1988, respectively. But in 2011 CIRI jumped 24 spots; in 2009 Cape Fox Corporation jumped 27 spots; and in 2000 Unit Company jumped an amazing 28 spots up the list. In 1999 Unit Company reported $16 million in revenue and ranked number 48, but in 2000 the company’s revenue grew by 236 percent to $54 million and the company ranked at number 20.

Afognak Native Corporation is also unique; premiering in 2006, Afognak reported $522 million in revenue and snagged the number 7 spot on the list in its first year as a Top 49er, making it the corporation that debuted with the highest revenue on a Top 49ers list.

In October 2007, the late Vern McCorkle wrote a Letter from the Publisher in which he said: “It is often easier to make a profit (frequently a one-shot deal) than earn a profit, which requires ethical integrity and top-rate goods and services for established clients and customers over a period of time… If there ever was a time when businessmen and women needed to step up to the plate, as people often say, and make a difference for Alaska, this is surely that time.”
Alaska Native corporations have always comprised a significant portion of the Top 49ers rankings; as mentioned, in 1985, 16 percent of the Top 49ers were Alaska Native corporations, all regional corporations. The first village corporation made the list the next year in 1986, with Klukwan, the village corporation for Haines, joining the ranks at number 32 with reported revenue of $28 million. In 1988, Ukpeaġvik Iñupiat Corporation, the village corporation for Utqiaġvik, reported revenue of just under $26 million landing it at number 31. But the next village corporation didn’t join the Top 49ers list until eight years later in 1996, when Goldbelt, an urban corporation based in Juneau, came onto the scene at number 35 with $25 million in revenue.

Alaska Native corporation participation has continued to rise over the years. In 1990 the number of Native corporations was 20 percent of the total list; 20 percent in 1995; 20 percent in 2000; 31 percent in 2005; 45 percent in 2010; 40 percent in 2015; and almost 50 percent this year. All twelve of the regional corporations have been Top 49ers since 2009 when Bering Straits Native Corporation joined the list, and more and more village corporations are making their way into the ranks year after year. It’s an amazing boon to Alaska, as these corporations are passionate about building economic opportunities throughout the state.

In October 2007, the late Vern McCorkle wrote a Letter from the Publisher in which he said: “It is often easier to make a profit (frequently a one-shot deal) than earn a profit, which requires ethical integrity and top-rate goods and services for established clients and customers over a period of time… Making a profit at any cost, costs too much… If there ever was a time when businessmen and women needed to step up to the plate, as people often say, and make a difference for Alaska, this is surely that time.”

There are, shockingly, still some numbers in our Top 49ers data vault that haven’t made it onto this page [General Manager’s Note: Pathetic! Get them all on here, ASAP, Anderson!], but those that are represented paint a clear picture of Alaska’s homegrown companies that are meeting McCorkle’s expectations, working their capes off with courage and integrity to earn the revenue that creates jobs, pays benefits to employees, and builds communities.