OUR ESOP story
“Our people are diverse in their talents and resourceful. That’s really the reason that we are successful.” - Ron Ferrigno, General Manager
Sign Design started out in a small, rented space with 5 employees in 1988. Since then, we have grown to over 70 employees operating in our own 30,000 square foot facility. As Sign Design grew, owners Ron and Whitney Ferrigno were always looking to the future. At some point, retirement would be on the horizon, and what would be next for Sign Design?
While exploring these options, they landed on one important fact – Sign Design is who it is today because of the people. This led to thinking about selling the company to the employees. Ron has said “It just didn’t feel right to take the company out from under those who built it.” Sign Design became 100% employee-owned in 2019.
Today, Ron and Whitney are still actively involved in the day-to-day operations of Sign Design. We continue to grow and thrive with an ownership mindset that will keep moving us forward, building on the success that they began in 1988.
What is an esop?
An ESOP is an Employee Stock Ownership Plan. At Sign Design, 100% of our company shares are allocated to employees making us all employee-owners. The value of shares is directly related to the success of the company.
As employee-owners, we are more invested in helping Sign Design succeed – when the value of our company increases, so does the share price. In the simplest terms, an ESOP is a retirement plan, but it is so much more. ESOPs motivate employees, increase productivity, improve worker retention, keep jobs local, and contribute to business longevity, which in turn benefits our customers.
The Ownership Advantage
Employee ownership is a different way of doing business. Everyone knows what it means to be an employee, but what does it mean to be an owner? Ownership is about going above and beyond to make our company successful, and sharing in the financial rewards when the company succeeds. Employee-owners contribute effort, ideas, and teamwork every day. This drives company performance and the value flows back to our employee-owners through an increase in our share price. Employee ownership closes the loop between employees and owners, creating a powerful dynamic that benefits our people, our customers, and our community.
Employee-Ownership Movement
"Employee ownership is the most transformative business model today because it builds wealth for working people, strengthens companies, and improves the economic and social fabric of our communities." - Joseph Blasi, Institute for the Study of Employee Ownership
Across the country, employee-owned businesses are strengthening local communities and providing millions of job opportunities. As one of over 6,000 employee-owned companies in America, we are proud to be a part of this growing movement. Employee-owned companies are everywhere you look, headquartered in all 50 states, operate in every industry, and range in size from 5 people to over 200,000.
Though they come in many different shapes and sizes, all employee-owned companies help workers build wealth, create a better day-to-day environment for employees, and make companies more successful.
