Your Alaska grown supplier

First National’s expertise helps NorthStar Supply compete against big national chains

It took one snowboarding trip to Alaska for Jason Carmichael, co-owner of NorthStar Supply, to fall in love with the state. He and his wife, Richell,
originally from Palmer, had just married.

When they returned to their newly purchased home in Colorado, Jason realized something.

“He looked at me over dinner and told me, ‘We have to move there!’” said Richell.

The couple was soon packing up and heading north to Alaska.

Divide and conquer

Today the couple owns and operates NorthStar Supply, which has supplied Alaska with civil and industrial construction and maintenance materials since 2017. Geotextiles, asphalt maintenance materials, and dust and ice control are just a few products in the catalog of supplies they offer.

Richell and Jason take a divide and conquer approach to their business. Together, they invest in Alaska by providing an option for consumers looking to buy locally.

“People want to support their fellow Alaskans and that’s definitely us,” Richell said.

They found their roles in their business organically. Richell, who has an MBA and a background in finance, took on the money side of things. Combined with Jason’s background in purchasing and supply chain management, the pair has seen a lot of success.

Rooted in the Valley

Richell has deep roots in Alaska. Her grandparents came up in the 1940s and her parents were born and raised in Palmer. She spent six years Outside before coming back for good. Richell and Jason’s children will be third-generation Palmer High School graduates. “It’s home. There’s no other word to describe it,” she said.

When it was time to find a bank for their business, First National was an easy choice. “The life of our business has been banked at First National,” Richell said. The bank was ready to invest in their company and provide them with the financial resources they needed to grow and compete against the big national chains.

The relationship started as typical in-and-out banking until Jason met with a Personal Banker to discuss their business over coffee. “Our first interaction was great, and that’s been true for every interaction we’ve had with other bankers, loan officers, cash management, just about anyone we’ve encountered,” said Jason.

When they had an opportunity to bid on larger projects, they turned to the First National team and Loan Officer Veronica Pillans to build a financial game plan and explore loan options.

As a new business, they initially were not able to bid on bigger projects with the capacity they needed to win them. Pillans helped facilitate an application for the line of credit they needed to secure their bid and buy their materials.

Just recently, they won a bid for a big project with the State of Alaska. The young company will be providing materials for dust control for the Dalton Highway.

“It was largely thanks to our relationship with the bank that we were able to bid and successfully win that project,” Richell said.

Shaping tomorrow

The last year has been challenging for many industries, but for the most part NorthStar Supply has been spared, from any real issues, thanks to construction projects continuing throughout the pandemic. Fortunately, they haven’t seen a decrease in their volume of business.

Their biggest challenge has been on the logistical side. Costs have increased and shipping materials to Alaska has become even more difficult.

“Right now, our priority is making sure we can deliver what we say we’re going to,” said Richell.

With big projects on their resume now, Jason and Richell are looking ahead to grow and expand their business. Thanks to financing through First National, they’re planning to break ground on a new warehouse in Palmer. Having a large, new space will allow them to increase their product inventory and
keep more supplies in stock.

“We wouldn’t be where we are without our relationship with the bank,” said Jason. “We were growing so fast that we couldn’t keep going without having to borrow money. First National believed in us and that allowed us to secure our bigger projects and grow.”