Employee-Funded Effort Sets Stage for Expansion
GeoStructures, a design-build contractor that provides ground-improvement systems, engineered earth structures and sound walls for transportation and commercial construction projects, has relocated to its newly built headquarters at 413 Browning Court.
Located in Purcellville's Browning Industrial Park, the 11,000 square-foot office and 5,500 square-foot workshop is home for the company's 90-person staff consisting of executive management, sales and marketing staff, engineers, project managers, and work crews.
"Our new office brings multiple benefits to the company, chief among them being that our growth will not be stymied by a shortage of space," says Mike Cowell, P.E. "It also is centrally located with regard to staff commutes and customer projects, and it is supporting a unique retirement program for employees, so for everyone it is a great investment."
Construction of the building was partially funded by senior employees who transferred money from 401(k) plans to self-directed, qualified individual retirement accounts (IRAs). "The cash from the IRAs reduced the amount of money the company needed for construction, and the projected payoff to the employees should be significantly higher than the traditional single-digit returns from 401(k) investment plans," says Rick Ross, CFO.