Strengthening Alaska’s Waterfront

Most marine construction projects come with the same headaches: timelines that drag on, budgets that spiral upward, and disputes between owners, designers, and contractors. Jason Davis and Jon Archer believed it didn’t have to be this way.  

In 2014, they founded Turnagain Marine Construction Corporation (TMCC) in Anchorage  with a simple idea: align the owner, the designers, and the contractor from the start to deliver projects more efficiently and with fewer disputes. It has since grown into one of  Alaska’s leading marine design and construction companies. With a proven ability to deliver ports, piers, and other complex waterfront infrastructure, TMCC has become a trusted partner for projects that are vital to Alaska’s economy and communities.  

By 2024, TMCC was working on a number of transformative projects in Alaska such as Seward’s “Port of Tomorrow,” the U.S. Coast Guard’s Kodiak homeport, and repairs to the Shemya fuel pier in the Aleutians. The demand was clear, but keeping pace required significant working capital for equipment purchases and vessel financing. Traditional lending constraints, combined with the risks of large-scale marine construction, made accessing this capital challenging.  

That’s where the Alaska Tribal State Small Business Credit Initiative (SSBCI) came in. With SSBCI support, Northrim Bank extended financing backed by SSBCI’s 50% guarantee. The financing gave TMCC the ability to mobilize quickly, purchase specialized equipment, and  stay on schedule for projects spanning the state. It also positioned the company to add eight new jobs and retain three more, strengthening Alaska’s workforce in a highly specialized industry.  

“Turnagain Marine’s work in the construction industry is key for continued growth within the  state,” said Joe Gelione, SVP, Commercial Lending Unit Manager at Northrim Bank. “With  support from the Tribal SSBCI Program, Northrim Bank was proud to work with TMCC to provide the financing needed to mobilize quickly, invest in specialized marine equipment, and stay on schedule for critical infrastructure projects across Alaska. The SSBCI Program has been instrumental for our business customers and reinforces our commitment to supporting businesses that are building Alaska’s future.”  

Turnagain Marine’s success shows how the Tribal SSBCI Program, working alongside  committed lenders like Northrim Bank, empowers Alaskan businesses to expand capacity and pursue transformative projects. By sharing risks and strengthening access to capital, the program builds a foundation for long-term economic growth, resilient infrastructure, and strong communities across Alaska. 

For Turnagain Marine, it’s another step toward proving that marine construction can be  done differently and done better. Learn more at https://turnagain.build/