ANCSA and BBNC
Bristol Bay region
In December 1971, Congress enacted the Alaska Native Claims Settlement Act, a historic measure intended to resolve the long-standing issue of aboriginal land claims in Alaska. ANCSA had another purpose, to create a mechanism for economic development in Alaska, particularly in rural areas. It was Congress intent that Alaska Native people, the shareholders of private corporations created by the Act, would guide this development.
Bristol Bay Native Corporation, one of 12 Native-owned regional corporations created in Alaska by ANCSA, played a key part in the effort to secure passage of the Claims Act.
Under the 1971 Act, Congress created the 12 regional corporations and more than 200 village corporations. A 13th corporation, based in Seattle, Washington, also was formed. Both land and cash were involved in the settlement. The corporations were formed to receive approximately 45 million acres of land transferred from federal to private ownership and to manage investment of $962 million appropriated by Congress as the cash part of the settlement. An exception to this is that the 13th corporation received no land.