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Joey Nestegard, chief business and financial officer of Schweitzer Engineering Laboratories (SEL), has been appointed by Governor Jay Inslee to serve on the Washington Employee Ownership Commission.

The commission will develop and oversee the Washington Employee Ownership Program within the Department of Commerce. It was established as part of a bipartisan bill (SB 5096) passed unanimously by the state house and senate last May. The law provides support and resources for companies looking to become employee owned.

SEL has been 100 percent employee owned since 2009 and is active in several associations advocating for the business model, including The ESOP Association and the Employee-Owned S Corporation of America (ESCA). Nestegard is the chair-elect of the ESCA Board of Directors.

“There is no better way to build a successful business than by giving employees a real stake in the company,” said Nestegard. “It’s a model focused on long-term decision making in the best interest of customers, employees, business partners and the communities where we do business. Employee ownership creates the kind of stability that helps a business weather storms and leads to sustained growth. I look forward to joining the effort to assist other businesses across the state in learning more about the ESOP model.”

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