[Congressional Record Volume 162, Number 21 (Thursday, February 4, 2016)]
[Extensions of Remarks]
[Page E114]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  RECOGNIZING WAWA EMPLOYEE OWNERSHIP

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                          HON. PATRICK MEEHAN

                            of pennsylvania

                    in the house of representatives

                       Thursday, February 4, 2016

  Mr. MEEHAN. Mr. Speaker, yesterday, the House passed H.R. 1675, the 
Encouraging Employee Ownership Act of 2015. This legislation will make 
it easier for companies to let hardworking employees have a stake in 
the company where they work every day. Companies who have significant 
employee ownership regularly realize a boost in the company's 
performance, because ownership gives the employees a vested interest in 
the success of the company.
   I'd like to especially highlight one such organization in my 
district, Wawa, Inc. Wawa has had an Employee Stock Ownership Plan 
(ESOP) since 1992 and has shared ownership with its associates for more 
than 40 years. Wawa associates own almost 41 percent of the company 
through the ESOP, and that pride in ownership is on display every 
single day. From customer services associates to general managers, Wawa 
employees share in the company's success and are able to accumulate 
significant retirement savings. It is important to these workers and 
those across the country who participate in ESOPs that these ownership 
and retirement programs remain strong.

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