Border States Electric (BSE) commemorated the 25th anniversary of its move to employee-ownership by hosting an open house at its corporate headquarters in Fargo, N.D., on Oct. 22. Special guests included Fargo Mayor Dennis Walaker and Moorhead, Minn., Mayor Mark Voxland. Similar events were also hosted at the company's other branch locations in the United States during the month of October.
BSE established the employee stock ownership plan (ESOP) in 1984 to transfer company stock from a majority shareholder to the employees and to maintain private ownership of the company. In 2000, BSE became 100-percent ESOP-owned.
“Over the last 25 years, employee-ownership has had a dramatic impact on our business. Our rate of growth and profitability exceed industry benchmarks,” said Tammy Miller, CEO. “Our success is a result of our employee-ownership culture. Employee-owners are willing to ‘go the extra mile’ for a customer or on a project because they know when the company is successful, they will personally share the financial rewards.”
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