ELA Group, Inc., (ELA) is pleased to announce it has completed the transaction to become 100% employee-owned through its newly formed Employee Stock Ownership Plan (ESOP).
The firm, founded in Lititz in 1996 with offices in State College and Butler, PA, provides a wide range of Engineering and Landscape Architecture solutions to both the public and private sectors.
With this transition, ELA has joined the growing list of companies whose employees are stakeholders in the success of the business.
According to the National Center for Employee Ownership, as of 2022 there are roughly 6,500 employee stock ownership plans (ESOPs) covering almost 14 million participants. ESOPs motivate employees, increase productivity, improve worker retention, keep jobs local, and contribute to business longevity.
Richard L. Jackson, RLA, one of ELA’s original partners reflects on the motive behind the change, “ELA Group was founded on the unique premise that our focus would always be on our employees through the culture we created and shared. So, when considering how to appropriately succeed the firm to the next generation, conveying the firm to the employees upon whom the firm was built was the only way to go.”
The plan will provide ownership of the company to the employees that build the company and reflects the founders’ goal to ensure a successful future for ELA that will be beneficial to both its employees and clients.
The transition to the employee-owned model does not change daily operations at the firm. Clients and prospective clients can have confidence that the firm and its employee-owners are ready to serve their needs.