Washington, D.C. – Today, Employee-Owned S Corporations of America (ESCA) released the third video in its “Faces of Employee Ownership” video campaign. The campaign features eight employee-owners across the country explaining how employee stock ownership plans, or ESOPs, not only provide robust retirement savings but also foster greater pride among employee-owners.
The third video in the eight-part series features Justin Holt, a second-generation employee-owner who serves as deputy general counsel at Austin Industries. Holt explains how Austin Industries’ ESOP gives his family breathing room as he and his wife save for retirement.
“As a second-generation employee-owner, I witnessed firsthand how employee ownership not only provided my parents with robust retirement savings, but also allowed my father to take great pride in his work,” said Holt. “Now at Austin Industries, having the ESOP provides my family with financial security as we plan for the future. As Congress addresses retirement security in America, I hope they work to promote and protect more S ESOPs.”
Austin Industries is one of the largest U.S.-based construction companies in America. With more than 9,000 employee-owners, Austin Industries provides civil, commercial, and industrial construction services through their operating companies: Austin Bridge & Road, Austin Commercial, and Austin Industrial. The company became 100 percent employee-owned in 2000.