Tri-City Regional Chamber of Commerce
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MEMBER NEWS

SEL Named One of the Nation’s Largest Employee-Owned Companies

9/2/2022

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Group of SEL employees holding a banner that says
Schweitzer Engineering Laboratories (SEL) is the 22nd largest employee-owned company in the United States, according to the National Center for Employee Ownership (NCEO). This week, the NCEO released its 2022 Employee Ownership 100, a list of the nation’s largest companies that are at least 50 percent employee-owned.
​
SEL has steadily moved up the NCEO’s annual list, rising 27 spots since 2011. The ranking is based on the number of full- and part-time employees in the U.S. and worldwide. The list also highlights companies that are 100 percent employee-owned. SEL ranks 17th in this category.
 
SEL first transitioned to employee ownership through an Employee Stock Ownership Plan (ESOP) in 1994 and became 100 percent employee-owned in 2009 as part of the company’s long-term strategy for sustained growth, stability and customer focus.
 
“Employee ownership has become part of SEL’s DNA and has been key to our success,” said Chief Business and Financial Officer Joey Nestegard. “It creates an environment where employees own, run and grow the company and have a personal stake in the outcome. This is a business model that results in long-term employment, high levels of employee engagement and exceptional relationships with customers. It’s not one driven by quarterly earnings or other short-term concerns.”
 
According to NCEO research, employees at ESOP companies have an average of $67,000 more in retirement savings than employees in non-ESOP companies, and ESOP companies are associated with 33% higher median income from wages and 53% longer median job tenure. For more information, visit ownershipeconomy.org.
 
The companies on the list employ more than 645,000 people worldwide.
 
The National Center for Employee Ownership is a nonprofit organization that conducts original research and shares information about employee ownership.
 
To learn more and to view the 2022 Employee Ownership 100, visit The Employee Ownership 100: America's Largest Majority Employee-Owned Companies | NCEO. 
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Copyright © Tri-City Regional Chamber of Commerce. All rights reserved.
7130 W Grandridge Blvd., Suite C, Kennewick, WA 99336 USA
Phone: (509) 736-0510
[email protected]
Hours
Monday - Thursday: 8 am - 5 pm
​(closed for lunch 12 - 1 pm)
​Friday: 8 am - 12 pm
​Closed Weekends

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  • MEMBERSHIP
    • Membership Directory
    • Member Login
    • Join the Chamber
    • Membership Features
    • Sponsorship Opportunities
    • Stakeholder, Leader, & Growth Level Members >
      • Stakeholder and Leader Profiles
  • EVENTS
    • Chamber Calendar
    • Annual Events >
      • Annual Meeting & Awards Luncheon
      • Women in Business Conference >
        • Call for Speakers - Tri-Cities Women in Business Conference
        • ATHENA Awards
      • Tri-Cities Diversity Summit
      • State of the Cities
      • Elected Leaders Reception
      • Tri-Cities Day at the Capitol
      • Bridging Partnerships Small Business Symposium
    • Monthly Membership Luncheon
    • Business After Hours
    • Ribbon Cutting Request
  • PROGRAMS & SERVICES
    • Ambassador Club
    • Ask the Experts
    • Business Builders Resource Roundtable
    • Business Resource Navigator
    • LEARN Groups
    • Member Advertising Opportunities
    • myTRI 2030
    • Office Depot Savings Program
    • Washington APEX Accelerator >
      • Meet the Buyer
      • Yes, You Can! Contracts with the Government
    • Workforce & Education >
      • Tri-Cities Regional Career Signing Day
      • Washington Workforce Portal
      • Job Board
  • Advocacy
    • Legislative Action and Advocacy
    • Business Advocacy Letters
    • 2025 State Budget
    • Vote for Business
    • 2024 Legislative Score Card
  • NEWS
    • Press Releases
    • In the News
    • Blog
    • Member News
    • Annual Report
    • Email Updates
    • Website Sponsors
  • ABOUT US
    • Contact
    • Our Leadership
    • Our Team
    • Committees
    • Policies
    • Tri-Cities Strategic Alliance Partners >
      • Benton-Franklin Council of Governments
      • TRIDEC
      • Visit Tri-Cities
    • Tri-Cities Community Map
    • Built for Prosperity - Strategic Plan 2024-2026