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Arctic Slope Regional Corporation Announces the First 2013 North Slope Marketplace Award

Naŋinaaq Productions wins $25,000 through ASRC’s North Slope Marketplace”

Naŋinaaq Productions has been named the first recipient of this year’s North Slope Marketplace business plan competition. Rachel Edwardson, the owner of the Iñupiaq film production company, will utilize the $25,000 grant to establish a more permanent base and office in her home community of Barrow, Alaska.

Upon learning of the grant, Edwardson shared, "We are very excited about the opportunity afforded by the reception of the North Slope Marketplace Grant. Securing a stable location to base our operations out of will ensure that our company can grow and flourish of the next 10 years.” She continued, “We plan to continue to see the development of a locally based Iñupiaq film, television and multi-media industry. There is a demonstrated high interest in Alaskan-based stories which only seems to be growing. So there is a great opportunity to take advantage of this interest and turn it into economic and creative opportunities for our local communities.”

Approximately 52 shareholders are estimated to have been employed by the company in past 10 years. The establishment of Naŋinaaq Productions’ office base will provide the space for growth and more local employment by providing a stable space for local staff to work and an environment in which Naŋinaaq Productions staff can conduct recurrent training and development opportunities to grow the local Iñupiaq film, television and multi media arts creators and industry. Under Naŋinaaq Productions, over 40 film projects have been completed over the past decade working primarily in all of the 8 villages, and throughout Alaska and the world.

About North Slope Marketplace

 Founded in 2009 the North Slope Market Place aims to encourage local, (North Slope based) economic development. ASRC shareholders are invited to compete in the North Slope Marketplace (“NSM”). This is a business idea competition for entrepreneurs who wish to compete for seed money to start a business based or to develop an existing business in one of the North Slope communities we serve. Shareholders will compete for several awards up to $25,000.

The competition is sponsored by Arctic Slope Regional Corporation and managed by Alaska Growth Capital, an ASRC subsidiary. It is designed to promote economic development opportunities for North Slope communities. The North Slope Marketplace is not a loan program, but rather an award to a winning business idea. Applications are evaluated by a panel of judges. For a complete set of rules and to download an application, go to www.northslopemarketplace.com or ASRC shareholder website www.iaminupiaq.com.

About ASRC

Arctic Slope Regional Corporation (ASRC) is owned by and represents the business interests of its approximately 11,000 Iñupiaq shareholders. Corporate headquarters are based in Barrow, Alaska, with administrative and subsidiary offices located in Anchorage and throughout the United States. As the largest Alaskan-owned company, employing over 9,000 people worldwide, the corporation serves shareholders who primarily reside in the eight villages within the region: Point Hope, Point Lay, Wainwright, Atqasuk, Barrow, Nuiqsut, Kaktovik, and Anaktuvuk Pass. Shareholders located outside of the region are located throughout Alaska, with a smaller number residing in the Lower 48.  The company has four major business segments: petroleum refining and marketing, government technical services, energy services and construction industries.

About Alaska Growth Capital

Alaska Growth Capital (AGC) is a nationally recognized leader in economic development finance. Founded in 1997, AGC is a wholly owned subsidiary of ASRC and Alaska’s only Business and Industrial Development Corporation (BIDCO). AGC also works as a CDFI to promote development of economically underserved areas within its target market of Alaska. In addition to contributing to growth in ASRC and other Alaskan communities, AGC has expanded its reach to provide services to Hawaii and other states. By giving our businesses the economic boost they need, we are able to support the creation of jobs and improve the livelihood of Alaskans, statewide.

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