ESCA Board Company HNTB Helps Rebuild After Hurricanes Ike and Dolly

May 22, 2013

Home News ESCA Board Company HNTB Helps Rebuild After Hurricanes Ike and Dolly

In the summer of 2008, Hurricanes Ike and Dolly rolled through Galveston, Texas, hitting the city with a 12-foot storm surge and damaging some of the community’s most vital city facilities. Ike turned out to be one of the costliest hurricanes to make landfall in the history of the United States, causing roughly $37.5 billion in damages.

Afterward, a massive $1.4 billion Texas Disaster Recovery Program was implemented by the state to help rebuild the heavily damaged Texas gulf coast. HNTB Corporation, a major player in the infrastructure industry and one of the largest employee-owned companies in the U.S., was brought on to manage the disaster recovery program. The company is responsible for providing the appropriate strategic, technical and managerial resources at the right times throughout the lifecycle of the recovery program – from program conceptualization through operations and maintenance.

Just recently, a major step was made in the rebuilding process for the City of Galveston. In January, workers began installing the massive foundation and replacing the heavily damaged wastewater treatment plant. The plant will serve nearly 44,000 residents, the Port of Galveston, and Galveston’s business district.

It should not come as a surprise that an employee-owned company is taking the lead on a major rebuilding effort like the Hurricanes Ike and Dolly Disaster Recovery Program. S ESOPs allow employees to take ownership of their work creating a culture of responsibility. This same sense of responsibility translates to the wider community and drives projects like the rebuilding effort in Galveston.

The culture in employee-owned companies not only improves local communities, but also improves the companies’ bottom line. According to a University of Pennsylvania Study, S Corp ESOP Legislation Benefits and Costs: Public Policy and Tax Analysis, employee-owned companies have higher productivity, profitability, job stability and job growth, generating a collective $19 billion in economic value that otherwise would not exist.

ESCA is proud to recognize HNTB on their work to rebuild the Galveston area.

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