Three Alaska Native Corporations have formed the Inuit Arctic Business Alliance with the purpose to ensure Arctic enterprises benefit communities in the region.

Newsminer.com provides a brief overview of the group’s purpose as well as the members involved.

The Arctic Slope Regional Corporation, NANA Regional Corporation and Bering Straits Native Corporation established the IABA. Together, the corporations own a total of 9.3 million acres of Arctic surface and subsurface real estate and represent more than 31,900 shareholders.

IABA will be governed by a nine-member board of directors, including three individuals from each member corporation.