(San Antonio, TX) – Alterman, Inc. today announced that project manager Harvey Zapata was awarded the Hispanic Contractors Association’s prestigious MVP Award in recognition of his significant contributions to the San Antonio business community. Zapata is an 11-year veteran of the employee-owned private company, or “S corporation employee stock ownership plan” (S ESOP).
“Our employee owners are personally invested in the success of our company and our community,” said CEO Don Kuykendall, “and we are particularly proud that the Hispanic Contractors Association has recognized Harvey’s outstanding dedication.”
Zapata received the award in recognition of his significant contribution of volunteer hours, talents and service toward fostering diversity within the industry. Zapata provides free electrical services to non-profit organizations—including the San Antonio Youth Center, SU CASA and the San Antonio Cultural Arts—so that they may devote more resources towards achieving their missions.
According to a University of Pennsylvania study, S ESOP companies like Alterman create not only employee motivation and success, but also $14 billion in new savings and retirement security for workers that they otherwise would not have. This is because profits of the company flow into the ESOP (retirement) accounts of the workers. Moreover, most S ESOP employees have retirement account balances three to five times higher than the average 401 (k) or other defined contribution plans. This helps to explain why S ESOP owners like those at Alterman are so successful, as compared with most working Americans who—a recent Gallup poll found—think they will lack enough money to live comfortably in retirement.
“Employee-owners like those at Alterman work smarter and harder because of their commitment and investment in the business, as well as the community it serves,” said Greg Klein, chairman of the board of directors of the Employee-Owned S Corporations of America. “The dedication of Alterman’s employee-owners not only defines the company’s bottom line, but also strengthens the entire economy — especially, as Mr. Zapata has shown, local business.”
Alterman, one of San Antonio’s oldest and largest electrical contractors, has been an employee-owned company since 1984, attracting outstanding managers, supervisors, electricians, technicians and support personnel able to excel on projects of all sizes and complexity. Alterman provides complete installation expertise, 24/7 service, in-house design / build and Building Information Modeling (BIM), detailed estimates and fast-track construction for a wide range of electrical needs, as well as voice and data communications systems, video, access controls, security and surveillance systems and alternative energy solutions for LEED certification.
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The Employee-Owned S Corporations of America (“ESCA”) is the Washington, DC voice for employee-owned S corporations. ESCA’s exclusive mission is to preserve and protect S corporation ESOPs and the benefits they provide to the employees who own them. These companies have an important story to tell policymakers about the tremendous success of the S ESOP structure in generating long-term retirement savings for working Americans and their families. ESCA provides the vehicle and the voice for these efforts. ESCA represents employee-owners in every state in the nation.