2018 Top 25
Winners:
City of Boston, MA
May 9, 2019
Jurisdiction:
City of Boston, MA

Employee ownership of for-profit businesses can be a powerful wealth-building tool for low- and middle-income Americans. As part of Boston’s effort to address its racial wealth gap and support small, minority-owned and women-owned businesses, the city launched its Employee Ownership Initiative in 2016.

Focusing on co-ops and employee stock ownership plans, the initiative features free onsite technical consulting for employee-owned firms in the city’s Office of Small Business Development, a workshop series on employee ownership, and new research on Boston’s employee ownership ecosystem. The city has ensured that small business loans are open to cooperative businesses, which has led to $100,000 in loans provided to a majority women-owned worker co-op in Boston.