MassachusettsNewsPolicy

Employee ownership can save jobs, build the state’s economy

From the Boston Business Journal:

In an era of a widening wealth inequality, the time has come for the advancement of employee ownership models. That’s why I am thrilled that the EIO will soon be back in business. Over the last two years, thanks to the leadership and vision of Senate President Karen Spilka, who has worked on this issue for three decades, the Massachusetts Senate has appropriated funds to recapitalize the office. The social advantages of facilitating employee ownership have been a winning, and bipartisan, issue for decades. President Ronald Reagan saw employee ownership as the next logical step in our economy — “It is a path that befits a free people,” he said — and so he partnered with House Speaker Tip O’Neill to pioneer the modern set of federal incentives around employee ownership. More recently, Vermont Sen. Bernie Sanders has pushed to create a U.S. Employee Ownership Bank to provide low-interest loans and other financial assistance for employee-owned companies.

Get the full story here:

https://www.bizjournals.com/boston/news/2019/04/02/viewpoint-employee-ownership-can-save-jobs-build.html