Contractor begins stock plan

By: Justin Carinci//August 14, 2009//

Contractor begins stock plan

Justin Carinci//August 14, 2009//

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General contractor Lease Crutcher Lewis is offering up to 53 percent of the company to employees as part of a retirement plan. The plan is open to salaried employees who have been with the company at least one year, about 200 people.

The private company has been closely held for 123 years, according to a news release announcing the plan. Shares will be given to employees over the next 10 to 20 year in addition to current benefits.

Lease Crutcher Lewis is based in Seattle and has an office in Portland. The company had $523 million in revenue for 2008.