This Thursday, employee-owned grocery chain, WinCo Foods, will open the doors of its newest two, and first stores in Texas. The two newest branches of WinCo are located in Fort Worth and McKinney and will employee approximately 180 and 170 people, respectively.
The management teams spoke about their excitement of opening two new stores and connecting with the local communities saying, “As employee-owners, all of us here at WinCo look forward to helping each community get to know us by providing great pricing and a great customer experience for all of our new friends.”
WinCo is an employee-owned S-corporation or S ESOP. This structure in particular has been shown to lead to higher wages and job stability, according to a study by American Enterprise Institute economist Alex Brill. The study also showed that these companies perform better because of the sense of common ownership: S ESOPs were more resilient in the recent down economy, growing their jobs when U.S. employment as a whole was flat. Employee-owned companies also have an important and clear dedication to improving local communities. It is the combination of financial success and commitment to improving both the lives of employees and wider community that really sets employee-owned companies apart from the general private sector.
ESCA congratulates WinCo Foods on their success, and their continued illustration of the possibilities of employee-ownership.