History of Far West Inc.
Far West Inc. was founded in 1973 to manage the land and surface rights received in the Alaska Native Claims Settlement Act (ANCSA). Since that time, FWI has acquired real estate in Chignik Bay, and in 2002 started Far West Ventures, Inc. (FWVI) to provide a vehicle for business development for the Corporation.
FWVI managed both commercial construction and federal government services contracts as a small, SBA 8(a) certified company. In 2011, FWI developed a new subsidiary to enter the SBA 8(a) program. Angayut, LLC has been successful at providing federal government administrative services.
Angayut operations are located in Maryland, Virginia and Georgia. FWI also established Castle Cape Holding, LLC to provide administrative services to the subsidiaries. FWI is headquartered in Anchorage, AK. FWI will continue to expand its business lines using both existing companies and new subsidiaries in order to provide for our shareholders.
Today, FWI has over 500 Alaska Native and Native descendant shareholders some live in our traditional home in Chignik Bay, while others live around Alaska, the United States, and across the world!
What is an Alaska Native Corporation?
In 1971, the Alaska Native Claims Settlement Act, known as ANCSA, was signed into law by President Nixon.
ANCSA is the largest land claims settlement in United States history. ANCSA also provided for the creation of Native regional corporations and individual village corporations within each region.
The settlement resolved the issues around the land claims of Alaska Native peoples by transferring government-held titles of Alaska land to twelve Alaska Native regional corporations and more than 200 village corporations created under the Act.
The lands, assets, and businesses are owned by the shareholders of the Alaska Native Corporations. Each corporation is a for-profit organization with unique social responsibilities to preserve and benefit Alaska Native peoples and cultures.
Far West Inc., is the Alaska Native Village Corporation that stewards our lands and resources to benefit the traditional people of Chignik Bay, on the remote southern end of the Alaska Peninsula.
What do we do?
We invest in organizations, subsidiaries, and people to maximize the return on investment for our shareholders and preserve our heritage and traditional way of life.
Our investments are thoughtful, diligent, and focused on long-term success for our shareholders, their families, and our corporation.