The company thrived, started landing major contracts, and gave UIC the strength to expand into other areas. Then, to take advantage of the Borough’s rising housing market, UIC established its first wholly-owned subsidiary in 1978: UIC Construction. UIC landed its first loan and built a new, larger store featuring the town’s first butcher shop and storage for fresh produce. The corporation’s first major venture was the 1974 purchase of Shontz Store, later to become Stuaqpak. UIC operations formally commenced on July 1st with three employees: Arthur Panigeo, president Wesley Aiken, land chief and Lucille Adams. UIC was officially incorporated on April 19, 1973. James Matumeak, Warren Matumeak, and Lester Suvlu also contributed their time and talents. Other founding board members included Roy Nageak, a smart young man who came from ASRC with new ideas, and Lewis Suvlu, who contributed his budgeting, planning, and accounting skills. Beverly Qalu Ahgeak, well-organized and good with numbers, kept the day-to-day operations running as secretary/treasurer. helped design the corporation so it would mesh with our subsistence lifestyle. Arthur Panigeo was elected president and brought energy and wisdom we needed to make things happen. Lloyd Ahvakana, with his military background and a strong sense of organization, was elected chairman. These future shareholders selected “Ukpeaġvik Iñupiat Corporation” as its name, to honor the town’s ancestral heritage.
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On March 30, 1973, the people of Barrow gathered to decide how to shape our village corporation. Whalers became corporate executives overnight and we rose to the challenge. We knew little about business, let alone running an ANCSA-mandated, multi-million dollar corporation. When UIC was established, Barrow was still very much a subsistence-oriented community. During the development of ANCSA, our leaders were creative and resourceful in adapting to the changing world around them, just like our ancestors had been. The Alaska Native Claims Settlement Act (ANCSA) was passed in 1971 and gave Alaska Natives as a group $944 million and title to 44 million acres of land – in exchange for our claims to 340 million acres of traditional lands, including the oil-rich area of Prudhoe Bay. UIC and its subsidiaries are committed to and strive for safety, quality, business ethics, and shareholder value.
We are proud of our expanding operations which currently span over twenty-five different industries and business lines throughout most of the United States and in many foreign countries. UIC is one of Alaska’s largest companies with 4,000 employees, fifty-four subsidiaries, $3 billion in backlog, and an additional $25 billion in the pipeline. UIC Government Construction Menu Toggle.
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