Institute for Entrepreneurship Entrepreneurial Education Partner
On September 24th, the Daviess County CEO group visited NASCO Industries, Inc., where they met with Jeff Smith, Lauren Wilson, and Jordan Sherman. NASCO, founded in 1979 when Neil A. Smith purchased the Uniroyal plant in Washington, Indiana, has been a key player in the local economy, ensuring continued employment for local citizens when the original plant faced closure. By 1984, NASCO transitioned into an Employee Stock Ownership Plan (ESOP), making it 100% employee-owned.
NASCO’s growth was further fueled in 1988 when Duke Energy and DuPont encouraged the company to diversify its product line, moving beyond affordable rain gear to high-end protective garments. Today, NASCO is an industry leader in protective outerwear, supplying gear for petroleum and energy workers across the United States and Canada. The company's products are commonly worn by electric company linemen and petroleum workers, underscoring NASCO’s dedication to safety and durability.
Jeff Smith emphasized NASCO's commitment to American-made products with the slogan, “Made in the USA for the USA,” stressing their primary focus on serving the U.S. energy sector. He also highlighted the company's lifetime warranty, offering repairs for any product that becomes damaged, whether it’s a tear or a broken button.
During the visit, the students learned about NASCO's approach to employee versatility, as workers are multi-trained in various positions within the plant. Jeff also explained the company's strategy of protecting their trade secrets rather than filing patents, allowing them to maintain a competitive edge.
The discussion touched on the importance of being proactive and engaged in one’s employment, as well as embracing the mindset of being a “Dreamer in Business.” The CEO students left the tour inspired, gaining valuable insights into the operations of one of Daviess County's most innovative businesses. A special thanks to Jeff, Lauren, and Jordan for creating a memorable and educational experience for the students.
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On October 1, 2024, the Daviess County CEO Cohort had the privilege of meeting with Bob Grewe, the Executive Director of the Daviess County Economic Development Corporation. During the ...
