Schweitzer Engineering Laboratories is recognized as the 14th largest 100% employee-owned company in the U.S., highlighting the benefits of employee ownership. Concurrently, new business ventures such as a restaurant and tire service are emerging in Lewiston, reflecting local economic growth and stability.
Schweitzer Engineering Laboratories (SEL) ranks as the 14th largest fully employee-owned company in the United States, as reported by the nonprofit organization National Center for Employee Ownership. Founded in 1994, SEL specializes in manufacturing products designed to protect and control electric power systems, employing over 2,750 individuals across its Washington facilities, with the main office situated in Pullman. The company achieved 100% employee ownership in 2009 as part of a comprehensive strategy focused on sustainable growth and organizational stability. Such ownership models have been linked to significant economic benefits for employees, including increased median household net worth and longer job tenures.
In another development, the owners of the former Bait Shop Grill are planning to open a new restaurant at the same location in Lewiston Orchards. Betsy and Jason Rowden have leased the building previously occupied by the popular eatery and are excited to reintroduce a breakfast and lunch service to the community by spring 2025. Meanwhile, Jackman Tire has opened at a former site of the Donkey Den, offering tire sales and vehicle maintenance services. Known for its mobile service, Jackman Tire caters to both trucks and heavy machinery, combining the expertise of its founders, Meghan Garrett and Martin Flores, to deliver exceptional service in North Central Idaho.
Employee ownership has gained recognition in the United States as a viable model for enhancing employee engagement and financial stability. The concept allows employees to hold shares of the company, increasing their vested interest in its success. Research by the National Center for Employee Ownership indicates that companies employing such plans often see improved financial outcomes for their employees. In the context of local business developments, new restaurants and tire services are emerging, reflecting economic resilience and community involvement in Lewiston.
In summary, Schweitzer Engineering Laboratories exemplifies the benefits of employee ownership as it ranks among the leading such companies in the U.S. The forthcoming restaurant venture by Betsy and Jason Rowden represents community investment and continuity in local dining options. Additionally, Jackman Tire’s establishment marks a significant addition to Lewiston’s service industry, promising quality and reliability. These developments showcase positive economic trends and the entrepreneurial spirit within the region.
Original Source: www.dnews.com
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