McKinney's Second Largest Employer Named One of America's 100 Most Trustworthy Companies by Forbes

MCKINNEY, Texas, April 8, 2014 /PRNewswire/ -- The City of McKinney and the McKinney Economic Development Corporation congratulate Encore Wire for being named One of America's 100 Most Trustworthy Companies by Forbes.

GMI Ratings provides Forbes with the ratings. The ranking is developed by reviewing accounting and governance behaviors of more than 8,000 publicly-traded companies in North America. Factors considered include high risk events, revenue and expense recognition methods, SEC actions, and bankruptcy risks.

"It's an honor to be recognized by Forbes," said Daniel Jones, President & CEO of Encore Wire. "We believe in honesty and transparency in our business and making the list of 100 Most Trustworthy Companies means we are doing something right."

Founded in McKinney, Encore Wire, one of McKinney's largest employers since 1989, manufactures copper electrical wire and cable for residential and commercial use.  The company added 287 jobs, growing by 35 percent, from August 2011 to present.

"Daniel Jones and Encore Wire have a long standing reputation in our community of integrity and ethical conduct in the operation of its business and treatment of its employees," said McKinney Mayor Brian Loughmiller. "The City of McKinney and the McKinney Economic Development Corporation are proud of our partnership with Encore Wire as Encore Wire has grown through multiple expansions to be one of our largest employers.  Encore Wire executives also set an example for corporate stewardship in a community through service on volunteer boards and philanthropic support for local organizations."  

In 2013, Encore Wire was the recipient of the Dallas Regional Chamber's Blueprint Award for Workforce Growth. The award celebrates companies that have made a positive impact on the economy through job growth, location and expansion activities, as well as those companies and organizations contributing to the vitality of the Dallas region.

"We are proud to have such a reputable corporation here in McKinney," said Ernest Lynch, Board Chairman of McKinney Economic Development Corporation. "Encore Wire has added hundreds of jobs and was last year's winner of the Blueprint Award. It's encouraging to see that the city is attracting the right kind of businesses."

The companies that made this year's list garnered the 100 highest scores for trustworthy behavior over the four quarters of the previous fiscal year.

About Encore Wire Corporation
Encore Wire offers one-stop sourcing for all your residential, commercial and industrial copper and aluminum wire needs. Backed by a select family of loyal distributors, Encore is driven by old-fashioned values and strives to always exceed expectations. Their expansive, state-of-the-art warehouse facilities and highly acclaimed color-coding system, allows them to keep inventory levels broad and deep, while continuing to maintain a goal of a 100% fill-rate. Encore Wire is publicly traded on NASDAQ under the symbol WIRE. For more information visit the company's website, www.encorewire.com/.

About the McKinney Economic Development Corporation (MEDC)
MEDC was created in 1993 to support the development, expansion and relocation of new and existing companies. The MEDC is an organization with a mission to work to create an environment in which community-oriented businesses can thrive. The MEDC is actively pursuing investments in; Aeronautics /Aviation; Corporate headquarters; Emerging technology; Healthcare and Medical Device Manufacturing; Professional services; Renewable energy.  www.mckinneyedc.com

SOURCE City of McKinney