Bakersfield, CA May 15, 2015 – A-C Electric Company, a third-generation Central Valley electrical contractor, received the 2015 California Family Business of the Year Award bestowed by The Institute for Family Business in conjunction with the Craig School of Business – a division of CSU Fresno.
The Institute for Family Business seeks to honor family owned businesses for their longevity and dedication to growing local economies. Family owned businesses contribute 57% of the U.S. GDP and employ 63% of the nation’s workforce1. However, only 12% of those businesses continue to the third generation2.
During the nomination process A-C was asked to define what contributed to their third-generation success. There were several key factors including sourcing outside expertise, having a strong board of directors, and staying true to the company’s family values. But the one answer that kept surfacing was the original vision of Joe Alexander, A-C Electric Company’s founder, “we want to create better jobs for better people.”
The Alexander family is truly humbled to receive this recognition. “We have several families who are working on two generations at A-C, and many others have been with us for the bulk of their career.” says Daren Alexander, General Manager of A-C Electric Company. “It is an honor that these good people have chosen to invest their lives in this company.”
The award, including recognition from both the State Senate and Legislature, will be touring the company’s Fresno, Visalia, and Bakersfield offices Stanley Cup style.
- https://www.uvm.edu/business/vfbi/?Page=facts.html
- http://www.familybusinessinstitute.com/index.php/succession-planning/
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