Government contracting preferences for minority-owned businesses rescued Chugach Alaska Corp., an Alaska Native regional corporation, from bankruptcy, said chief executive Barney Uhart.

Just a few years ago, Chugach was in bankruptcy proceedings. Now the firm is bringing in $700 million in revenues and $37.5 million in profits.

Uhart told The Anchorage Daily News that the success is due to government contracts, which are under attack by some members of Congress. Uhart said he welcomes a General Accountability Office review of Alaska Native contracts, saying it will show that corporations are saving the federal government money.

Chugach also says it will fight efforts to hinder the program. The Senate version of an $82 billion defense appropriations bill contained a rider that could limit Alaska Native contracts but the language was removed in an agreementwith the House yesterday that calls on the Department of Energy and the Small Business Administration to discuss how they will meet minority and small business contracting goals. [Congresional Record: Small Business Contracting Sec. 6022]

Get the Story:
Chugach Alaska likely to take profits crown (The Anchorage Daily News 5/4)
pwpwd

Get the Defense Bill:
H.R.1268

Relevant Links:
Chugach Alaska Corp - http://www.chugach-ak.com
Native American Contractors Association - http://www.nativeamericancontractors.org

Related Stories:
Defense rider targets Alaska Native contracting (04/25)
Opinion: Congressional probe will hurt Indian business (03/21)
Alaska Native corporation contracts under scrutiny (03/07)
Alaska Native executive returned to power (10/26)
Alaska Natives offered money for corporation vote (10/19)
Chair of Alaska Native corporation removed (03/18)