From Plastics News: The seeds for NewAge’s future as an ESOP were initially planted back in the ’80s, when Baker received a piece of literature about employee ownership. The concept immediately resonated with him. While the company already was sharing profits through a gain sharing program, he wanted to take it further to develop committed, […]
Industry: Construction Location: Philadelphia, Pennsylvania Number of employees: 40 Became employee owned: In process Assistance: Philadelphia Area Cooperative Alliance Learn more Facebook – Mexcon Next City – Worker Co-ops Catch on in Philadelphia (2018) PACA – Unstoppable How cooperative businesses are transforming communities (video) (2017) PACA – City Council Hearing Testimonial (2016) Philadelphia Citizen – Reading Between The Co-ops […]
From Next City: Philadelphia and other cities across the U.S. face an impending wave of small business upheaval as Baby Boomer-era owners reach and pass retirement age. The majority of those owners have no clear succession plan, nor do they have a new generation ready and willing to assume ownership. As this “silver tsunami” approaches, […]
From Truthout: It’s been more than 10 years since the financial crisis of 2008, and working people are still being hammered by its effects — stagnating wages, a widening gap between the rich and the poor, and a rise in the sharing economy to meet basic needs. At the same time, one legacy of the […]
Industry: Construction Location: Philadelphia, Pennsylvania Number of employees: 10 Became employee owned: 2019 Assistance: Philadelphia Area Cooperative Alliance Learn more www.hivemindphilly.com Philadelphia Inquirer – Why this construction boss decided to turn his workers into owners Employee Owned Small Businesses in Pennsylvania Employee Owned Small Businesses in Construction Employee Owned Small Businesses Assisted by the Philadelphia […]
Industry: Food and Beverage Location: Philadelphia, Pennsylvania Number of employees: 3 Became employee owned: 2019 Assistance: Philadelphia Area Cooperative Alliance Learn more 1149coop.com Eater – The Restaurant Owners Fighting Systems That Allow Abuse to Persist (2019) NPQ – Restaurant Worker Co-ops Serve Food, Drinks, and Social Justice (2019) Culture Work – Spotlight: 1149 Cooperative (2019) Philadelphia Magazine – Here’s […]
From Lancaster Online: The benefits of the program are extraordinary. McPhillips shares some statistics. The 24- to 36-year-old employee population has 30 percent higher wages. Employee owned companies are more productive by eight to 12 percent which more than doubles their profitability over ten years and makes them less likely to lay off workers. 401K […]
From Generocity: Cooperative biz models aren’t new in Philadelphia, but lately, they’ve been getting a bit more top-down support. A yearlong fellowship that teaches city leaders the necessary skills for catalyzing democratic business ownership is working in three local commercial corridors: 52nd Street, Woodland Avenue and East Passyunk Avenue. The SEED Fellowship — which stands for Shared Equity in […]
From the National League of Cities: Income and wealth inequality, exploitative working conditions and displacement are critical issues faced by communities across the country. These challenges require strategies that create both stable employment and access to opportunities for building assets. Local governments have traditionally invested in the dual pathways of entrepreneurship and workforce development to […]
Industry: Media Location: Philadelphia, Pennsylvania Number of employees: 6 Became employee owned: 2018 Assistance: Philadelphia Area Cooperative Alliance Learn more bonfire.coop Generocity – 3 local gov staffers are studying other cities’ co-ops to boost Philly’s democratic biz economy Generocity – Media Mobilizing Project is bringing the heat with new sister org Bonfire Media Collective (2018) Next City […]