IWDC Member Norco, Inc. Offers ESOP Program

IWDC Member Norco, Inc. has announced that as of December 23, 2015 a new qualified retirement plan was formed to benefit their employees. This plan, the Norco, Inc. Employee Stock Ownership Plan (“ESOP”), is designed specifically to invest in the stock of Norco, Inc.  Norco will now provide a 35% stock benefit to its employees through the new ESOP.  

Norco now joins the ranks of thousands of privately-owned businesses nationwide that offer their employees a meaningful stake in the action. For Idaho-based companies, Norco will become the second-largest private employer to offer this type of benefit.  

Norco was established in 1948 and acquired by Larry Kissler in 1968. Still headquartered in Boise, ID, Norco has 1,200 employees working in 75 branch locations in seven states in the Northwest. Larry’s son, Jim Kissler, is Norco’s current CEO.  

“This is an extremely exciting time for our company.  The willingness for Jim Kissler to offer this benefit to our employees is critical for our ongoing success.  This will allow us to establish a meaningful benefit for retention, motivation, and recruitment of the key people we will need in the future.  Larry Kissler always said the ‘People are the Key’ and once again Jim Kissler has reinforced that.  When you can get everyone to think like owners in a company the potential for continued growth is limitless.” - Norco President Ned Pontious  

For any questions please contact Ned Pontious, Norco President at 208-336-1643, or email at nedp@norco-inc.com.  

Read the official press release here.
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