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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7130 W Grandridge Blvd., Suite C, Kennewick, WA 99336 USA
Phone: (509) 736-0510 |  Fax: (509) 783-1733 
info@tricityregionalchamber.com
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Photos used under Creative Commons from The National Guard, Gamma Man, US Department of Education, U.S. Secretary of Defense, Tony Webster, jalexartis, Blue Mountains Library, denisbin, Baker County Tourism
  • Benton Co. Business Resource Initiative
  • MEMBERSHIP
    • Membership Directory
    • Member Login
    • Join the Chamber
    • Membership Features
    • Sponsorship Opportunities
    • Stakeholder, Leader, & Growth Level Members
  • EVENTS
    • Chamber Calendar
    • Annual Events >
      • Annual Meeting & Awards Luncheon >
        • Business on a Roll Nomination Form
      • Women in Business Conference
      • State of the Cities
      • Tri-Cities Diversity Summit
      • Elected Leaders Reception
      • Tri-Cities Day with the Seahawks
      • Tri-Cities Day at the Capitol
      • Bridging Partnerships Small Business Symposium
    • Monthly Membership Luncheon
    • Business After Hours
    • Meet the Chamber
    • Speaking Opportunities
  • PROGRAMS & SERVICES
    • BUSINESS PROGRAMS >
      • Ask the Experts
      • Economic Gardening
      • Office Depot Savings Program
      • Small Business Incentive Program
    • Workforce & Education >
      • Tri-Cities Regional Career Signing Day
      • Washington Workforce Portal
    • myTRI 2030
    • Business Advocacy >
      • Public Policy Guiding Principles
      • Business Advocacy Letters
      • Session Spotlight
      • Vote for Business
      • TRI-CITIES LEGISLATIVE COUNCIL 2022 LEGISLATIVE PLATFORM
    • Ambassador Club
    • LEARN Groups
    • Washington PTAC >
      • Meet the Buyer
      • Procurement Power Hour
  • NEWS
    • Press Releases
    • Blog
    • Member News
    • Annual Report
    • eBlast Advertising
    • Email Updates
  • ABOUT US
    • Contact
    • Our Leadership
    • Our Team
    • Committees
    • Policies
    • Our Partners >
      • TRIDEC
      • Visit Tri-Cities