Graybar Electric Co., St. Louis, and Border States (BSE), Fargo, N.D., were named among the 100 largest employee-owned companies in the United States in an annual ranking compiled by the National Center for Employee Ownership (NCEO).
Graybar came in at number 15 this year. Border States has moved up to 85th from 92nd last year. Also on the list is Rosendin Electric, an electrical engineering, power and communications provider in San Jose, Calif. The entire list can be found at www.nceo.org/library/eo100.html.
Rankings are based on the number of employees. To be on the list, companies must have a majority of their stock owned by an ESOP (employee stock ownership plan) or similar plan or have a plan in which at least half the full-time employees meeting minimum service requirements own at least 50 percent of the shares.
“Employee-ownership is a significant part of our culture, and our rate of growth and profitability exceed industry benchmarks,” says Tammy Miller, CEO. “I believe our success stems from the dedication of our employee-owners. They are willing to go the extra mile for a customer or on a project because they know that when the company is successful, they will personally share the financial rewards.”
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