PULLMAN — Schweitzer Engineering Laboratories is the 14th largest 100% employee-owned company in the United States, according to a recent ranking from the nonprofit National Center for Employee Ownership.
The manufacturer of products that protect and control electric power systems has more than 2,750 employees in Washington, the majority of them working at its Pullman headquarters along with more than 850 employees in Lewiston and more than 100 in Moscow.
SEL started an employee stock ownership program in 1994 and became 100% employee-owned in 2009 as part of a long-term strategy for sustained growth and stability, according to a news release from SEL.
Employee stock ownership plans are where employees are given ownership interest in a company in the form of shares held in trust until they leave the company or retire, according to the news release.
A recent NCEO study found that such plans are associated with a 92% higher median household net worth, 33% higher median income from wages and 53% longer median job tenure, according to the news release.
Williams may be contacted at ewilliam@lmtribune.com or (208) 848-2261
