ICA Group

Fast Company – How Massachusetts is working to get retiring business owners to let their employees take over

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From Fast Company: Massachusetts wants to nudge these business owners toward another option: selling their companies to their employees. The state hired two nonprofits with expertise in shifting to employee ownership models–Working World and ICA Group–to revive its Office for Employee Involvement and Ownership (EIO), which was initially established in the late 1980s but faded […]

Cincinnati Union Cooperative Initiative

NPQ – A National Worker Co-op Financing Network Emerges

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From NPQ: “In 2017, Minnesota was named the second-most unequal state for Black people in a study of Black and White inequality by 24/7 Wall St., a financial news and opinion website,” reports Ivy Brashear for Yes! Magazine. In particular, Minneapolis’ Northside has a severe shortage of shopping centers, grocery stores, and banks. Poverty is widespread in the city’s Near […]

Cincinnati Union Cooperative Initiative

Yes – The Co-op That’s Keeping Community Money Out of Big Banks

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From Yes Magazine: Connelly’s credit union is part of a strategy by a nonprofit consortium of investors, financial organizations, and community development groups known as the Financial Cooperative to set up locally controlled loan funds across the country. The cooperative’s founders believe investing and lending in marginalized communities can counteract historical wealth extraction, which happened […]

Capital Impact Partners

Fifty by Fifty – Are Cooperatives Really So Difficult to Finance?

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From Fifty by Fifty: Since 2012, CFNE has financed 15 co-op conversions including providing nine loans for business acquisitions and twelve working capital lines of credit to recently converted businesses. Some of our borrowers include: A Yard & A Half Landscaping Co-op, a largely immigrant co-op serving residences throughout the greater Boston area; Island Employee […]

Capital Impact Partners

NPQ – Report: Business Sales to Worker Co-ops Can Preserve over 1,000 Jobs a Year

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From NPQ: Typically, when US businesses think of employee ownership, the form that ownership takes is an employee stock ownership plan (ESOP) company. The most up-to-date data (from 2015) finds that 10.8 million Americans work at an estimated 6,669 companies in which an ESOP owns all or part of the company. Because an ESOP is a federally regulated […]

Brooklyn Stone and Tile, Brooklyn NY

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Brooklyn Stone and Tile is a converted 8 employee business with a pilot three worker-owner cooperative that sells and installs tiles and marble countertops in New York City. The owner chose to sell to employees because he was retiring after 30 years. The converted business has begun manufacturing in the Brooklyn Navy Yards, a city […]

A Child’s Place – Queens, NY

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A Child’s Place is a 50 worker daycare center in Queens, New York. The founders have pursued employee ownership to preserve the mission and legacy of their business while also fighting the rapid gentrification of their neighborhood. The business has several long-term employees who have watched a generation of students grow up,and are now taking […]

The Rose Garden – Buffalo, NY

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The Rose Garden Early Childhood Center is a 20-employee worker cooperative in Buffalo, New York centered around encouraging positive childhood development. The founder and former owner created the business to help families create strong relational bonds with their children in order to have a greater impact on society. A starting group of 5 employees are the new owners of the […]