Acutec Precision Aerospace, Inc. (Acutec) has a rich history with 花椒直播, dating back to its beginning. Founded by alumnus Greg Antoun ’73, and subsequently grown by Rob Smith 鈥�73 from 17 people to over 430 employees in three locations, the partnership has only deepened.
and the welcomed Elisabeth Smith, CEO and president of Acutec, to campus, where she presented 鈥淐o-creating Wealth with Employees: Why Acutec Created an Employee Stock Ownership Plan.鈥澛�
鈥淎s a liberal arts graduate myself, I understand and value the creativity, problem solving, using unusual combinations of knowledge and multidisciplinary approach offered by liberal arts,鈥� says Smith. 鈥淥ur industry is so specialized and evolving so quickly; I want employees who know how to learn and collaborate and enjoy doing so with students and professors alike.鈥�
During the Year of Meadville initiative, Smith first learned about Employee Stock Ownership Plans (ESOP) through a connection with Autumn Vogel 鈥�15. In 2022, Smith gave 25% of her shares in the company to Acutec workers to create an ESOP. The change signified workers owning a portion of the company, intertwining the company’s success and workers’ wealth together.聽
“ At Allegheny, the purpose of the Law & Policy Program is to help students think about creative solutions to these sorts of difficult public problems,鈥� says Andrew Bloeser, Associate Professor of Political Science and the Director of the Center for Political Participation. 鈥淓lisabeth Smith’s talk about how Acutec has developed its ESOP provided Law & Policy students with a valuable model of what a creative solution can look like.”
Acutec鈥檚 decision to create an ESOP differentiates the company as a leader in their industry. During the presentation, Smith discussed the challenges of implementing the ESOP, but detailed why other companies might adopt the same approach, including increased employee engagement, higher job satisfaction, greater job security, and retention of local jobs.
鈥淚f there鈥檚 one thing I鈥檇 like everyone to take from this, it’s as ESOP as an alternative where there鈥檚 no zero-sum game on the value of the company and the return on the investment of the employees returns to the employee,鈥� says Smith. 鈥淚nstead, the employee-owners create value for themselves and each other.鈥�
Acutec continues to forge deep ties by hiring graduates and collaborating heavily on student and faculty research, including a 3D design co-op course taught by an Acutec employee.聽
Current students can also receive hands-on experience with Acutec by applying to their or the , where current students can gain experience and, following graduation, receive 100% defrayed tuition in the Master of Manufacturing Management Program at Penn State Behrend.