King Arthur Baking Company Champions Employee Ownership on Capitol Hill

WASHINGTON, D.C. (WCAX) – A well-known Vermont business was on Capitol Hill today to tout the benefits of employee ownership.

Vermont Senator Bernie Sanders invited King Arthur Baking Company, headquartered in Norwich, Vermont, to testify today to the Senate Committee on Health, Education, Labor, and Pensions.

Sanders has proposed legislation called the “Employee Ownership Financing Act” that would help workers buy the companies they work for.

King Arthur Baking Company’s Chief Financial Officer says being employee-owned increases the investment workers have in the company’s success.

“It fosters accountability, pride, and a commitment to our customers, our partners, and our communities. Each employee owner, whether with us for a few years or several decades, plays an important role in shaping our workplace and driving high performance,” said CFO Brock Barton.

While King Arthur Baking Company says they have been able to weather ups and downs in business, other employee-owned companies have not.

We recently told you how another large Vermont employee-owned company—Gardner’s Supply—filed for bankruptcy, citing financial pressures.

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