NEW YORK — The transportation consulting company Sam Schwartz Engineering (SSE) has newly incorporated as a Design Professional Corporation (DPC). A DPC is a new form of corporation in New York State that allows for ownership of up to 24.99 percent of the company by non-engineers, while the remaining 75.01 percent of ownership must be by New York State-licensed engineers.
Sam Schwartz Engineering is a multidisciplinary company that employs professionals in the fields of transportation research, transportation planning, and transportation design. The new corporate form of DPC sets the stage for ownership to be shared amongst individuals from the various professions.
The company’s previous designation as a PLLC could not offer shares in ownership of the company to non-engineers. The DPC designation will allow for a more broad-based system of shared ownership, inclusive of both engineers and non-engineers.
“It has been a very long road and we’ve gone through a complex process, but it is well worth it,” said Kris Bauman, Chief Operating Officer. “For a company like ours — a multidisciplinary, collaborative company — it is crucially important to not only allow key personnel to invest, but also to extend the opportunity to all personnel regardless of their field of specialization.”
Jeff Trim, Executive Vice President of Transportation Services noted, “Today’s transportation market requires collaborative teams who use all the available talent to creatively solve complex problems and make transportation safety a must for all forms of travel. Opening our ownership to the best and brightest allows our staff to grow with our company and share with them as owners the tremendous progress we have made in the last four years, expanding from $8 million to $17 million in revenue.”
President and Chief Executive Officer Samuel I. Schwartz, P.E., will remain the owner of the controlling interest in the company.