26 Aug 2026
Sink or Swim: The Leadership Lessons That Built JWF Industries. Book release Oct 1,2026
What does it take to build a company that can survive loss, recessions, massive growth and an
industry that never stops changing?
In this episode of Steel City Growth, Bill Ilgenfritz sits down with Bill Polacek, CEO and
Chairman of JWF Industries, for a conversation about leadership, resilience, faith, family and
the decisions that shaped his journey as an entrepreneur.
Bill shares how his father’s small welding business became the foundation for what would
eventually grow into JWF Industries—and how losing his father at just 25 years old forced him
to decide whether he would “sink or swim.” Book release Oct 1, 2026.
He explains how a $6,280 Bethlehem Steel project became an early turning point, how JWF
entered the defense industry and helped develop lighter armor for military vehicles, and why
taking care of employees has remained at the center of his leadership philosophy.
Bill also opens up about one of the most difficult periods in the company’s history, when the
recession forced JWF to lay off employees. Rather than viewing layoffs as numbers on a
spreadsheet, he made the decision to continue paying health insurance for affected employees
while working to bring them back.
In this conversation, you’ll learn:
• How Bill Polacek turned difficult circumstances into opportunities
• Why servant leadership is central to JWF Industries
• What “sink or swim” means in business and in life
• How JWF moved from welding and fabrication into defense manufacturing
• Why leaders reveal their true character during difficult times
• How JWF built a culture around trust, respect and employee development
• Why businesses must adapt to changing markets instead of only selling what they already
offer
• How Bill thinks about AI, robotics and the future of manufacturing
• The biggest leadership mistake Bill made while growing the company
• Why community investment matters to the long-term health of a business
• How Bill is preparing the next generation of leadership at JWF
• The inspiration behind his book, Sink or Swim
Bill also reflects on the influence of his parents, meeting his wife, the role faith has played in
major decisions and why success comes with a responsibility to lift up the people around you.
Watch the full conversation for lessons on building a company, developing leaders and staying
grounded through the moments that test you most.
Connect with Bill Polacek & JWF Industries:
Bill Polacek on LinkedIn:
https://www.linkedin.com/in/william-c-polacek-86a3282b
JWF Industries on LinkedIn:
https://www.linkedin.com/company/jwf-industries
JWF Industries Website:
https://www.jwfi.com
🔗 Steel City Growth & Host Links
🎧 Listen on all podcast platforms:
https://steelcitygrowth.live (https://steelcitygrowth.live/)
🎥 Subscribe on YouTube:
https://www.youtube.com/@SteelCityGrowth (https://www.youtube.com/@SteelCityGrowth)
👤 Host — William Ilgenfritz
LinkedIn: https://www.linkedin.com/in/bill-ilgenfritz-83161652/ (https://www.linkedin.com/in/bill-ilgenfritz-83161652/)
Murphy Business Pittsburgh: https://murphybusiness.com/pittsburgh/ (https://murphybusiness.com/pittsburgh/)
🤝 Sponsored by Murphy Business of Pittsburgh
Helping business owners plan, grow, and transition successfully.
✅ Don’t forget to:
👍 Like the video
💬 Drop your thoughts in the comments
🔔 Subscribe for more conversations with business owners and founders across the greater Pittsburgh area.
Chapters:
0:00 – Welcome to Steel City Growth
0:25 – Meet Bill Polacek
0:38 – Growing Up in a Family of Nine
1:52 – How Bill’s Parents Shaped His Values
3:34 – How Bill Met His Wife
5:58 – The Role Faith Plays in Major Decisions
7:39 – The Early Years of JWF Industries
10:58 – Losing His Father and the “Sink or Swim” Moment
12:14 – The Project That Proved JWF Could Make a Difference
15:28 – What Servant Leadership Really Means
16:42 – The Toughest Leadership Test of Bill’s Career
19:21 – How JWF Chooses New Markets
20:44 – Moving From Components to Complete Manufacturing
23:08 – The Risky Decision That Transformed the Company
24:09 – AI, Robotics and the Future of Manufacturing
25:55 – Building a Culture That Gives People Second Chances
30:08 – Becoming an Employer of Choice
31:15 – Bill’s Biggest Leadership Failure
32:40 – Investing in the Future of Johnstown
35:40 – Advice Bill Would Give His Younger Self
35:47 – Preparing the Next Generation of Leadership
39:01 – What YPO Taught Bill About Business and Family
41:27 – The Story Behind Sink or Swim
42:57 – Final Thoughts
43:24 – Thanks for Watching
