NANA Development Corporation headquartered in Anchorage, Alaska, was owned by NANA Regional Corporation—an Alaska Native Corporation formed under provisions of the Alaska Native Claims Settlement Act (ANSCA)—and functioned as the latter's business arm. In 1968, nine years after Alaska attained statehood, oil was discovered at Prudhoe Bay. The discovery put the issue of Native lands into the forefront. Three years later, in 1971 President Richard Nixon signed the Alaska Native Claims Settlement Act, which conveyed nearly 150 million acres (610,000 km2) of federal land into the hands of 12 newly created Alaska Native regional corporations. One of these corporations was NANA Regional Corporation. In 1974, NANA Development Corporation was founded to function as the business arm of NANA Regional Corporation. More information...
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