Congrats to Massachusetts for forming the newest State Center for Employee Ownership!

STATE ALLOCATION REVIVES THE MASS. CENTER FOR EMPLOYEE OWNERSHIP

Cambridge, MA—June 27, 2019
Following a meeting with state officials at the Massachusetts Office of Business Development
(MOBD), the Massachusetts Center for Employee Ownership (MassCEO) received $50,000
dollars in state funding for its annual operating budget. This budget, earmarked for a range of
educational, outreach, and research initiatives, enables MassCEO to support employee-owned
Massachusetts businesses and advocate employee ownership to businesses in the succession
planning process.
Coupled with its initial $150,000 contract with MOBD in March, MassCEO’s new funding
effectively revives Massachusetts’ longstanding commitment to employee ownership, which
between 1989 and 2008 supported the Massachusetts Office of Employee Involvement and
Ownership. According to MassCEO Executive Director Adam Vartikar, “The new allocation is a
huge vote of confidence in the promise of employee-owned business. Our office will do all it can
to repay the Commonwealth many times over in a more robust, equitable business sector.”
Having secured critical funding through the next budget year, MassCEO now turns its full focus
to the expansion of employee ownership across Massachusetts, a mission which Director of
Operations and Business Development Chris Wingard believes will transform the lives of
workers and their families for the better. “We’re excited to show businesses how employee
ownership translates to greater wealth and wellbeing for every employee,” he said.
About MassCEO
Created by an act of the Massachusetts Legislature in 2017, the Massachusetts Center for
Employee Ownership advocates employee ownership through education and outreach to business
owners across the Commonwealth. Whether by assisting current employee-owners or sharing
advice and expertise with businesses considering a conversion to employee ownership,
MassCEO exists to point businesses down a path of democratic, equitable growth.

Website: massceo.com