One of Charlotte's longest-standing construction companies is putting ownership into the hands of the people who helped build it. Hoopaugh Grading Company (HGC), a Charlotte-based site development contractor since 1953, announced Feb. 11, 2026, its transition to an Employee Stock Ownership Plan (ESOP), officially becoming an employee-owned company and marking a major milestone in its more than seven-decade history.
Becoming employee-owned marks a natural next step in HGC's development, aligning ownership with the teammates who help build the company every day. Through the ESOP, employees gain a meaningful stake in the business, strengthening shared accountability, pride and purpose across the organization. The move reinforces HGC's long-standing belief that its people are the foundation of its success and positions the company for long-term stability and growth.
"At HGC, our people have always driven our success," said Brian McManus, president of HGC. "This transition ensures every teammate shares in the success they help create while preserving the values that have defined us from the start, values rooted in the opportunity Larry Hoopaugh extended to me years ago when he believed in my leadership as an owner. It's about building a stronger future for our people, our clients and the communities we serve."
Employee ownership is increasingly seen as a way to retain jobs, preserve local businesses and invest directly in the workforce. Through the ESOP, eligible HGC employees now build equity in the company over time, aligning individual success with the company's long-term performance.
The ESOP structure strengthens HGC's foundation for the future by supporting continuity, operational excellence and a lasting legacy of employee ownership. Clients and partners benefit from a more invested workforce and a company committed to maintaining the quality, integrity and people-first approach that has built trust across the region.
With this transition, HGC remains focused on delivering exceptional work while creating long-term opportunities for its employee-owners, ensuring shared success today and for generations to come.
