Welcome to the new blog of the Employee-Owned S Corporations of America, The American Dream at Work. Our private, ESOP-owned companies are helping to tell their stories of the extraordinary benefits employee ownership brings – in retirement savings, steady jobs, improved company performance and measurable community impact.
Last week, Congressman Denny Rehberg (R-MT) saw firsthand the success that Pacific Steel & Recycling continues to have through their 100 percent ESOP in Helena. Rep. Rehberg spent time touring the grounds to see the daily workings of the company and met with employees, observing directly the pride and investment they have in their company.
Private, employee-owned companies like Pacific Steel & Recycling are unique in that the earnings of the company directly benefit the retirement accounts of the workers. The result is a culture of ownership in which the nearly 200 workers across the state feel responsible and accountable for every challenge and every achievement at Pacific Steel & Recycling.
Rep. Rehberg is a co-sponsor of The Promotion and Expansion of Private Employee Ownership Act of 2011 (H.R. 1244) to help eliminate barriers to creating new employee owners and new private ESOPs. This is a strongly bipartisan bill that has 71 co-sponsors in the House and 11 in the Senate. By preserving and expanding the S corporation ESOP structure, we can help more businesses to grow and create jobs that enable hardworking Americans to save for the future. To view news coverage around the tour please visit here.