The nonprofit Wisconsin Center for Employee Ownership (WICEO) is pleased to announce a two-year, $50,000 capacity building grant from the Wisconsin Economic Development Corporation (WEDC). The WEDC grant will focus on outreach to rural areas of Wisconsin and to companies with majority-BIPOC workforces about the benefits of employee ownership via Employee Stock Ownership Plans (ESOPs), worker cooperatives, and Employee Ownership Trusts (EOTs).
MILWAUKEE, Dec. 3, 2023 /PRNewswire-PRWeb/ — The nonprofit Wisconsin Center for Employee Ownership (WICEO) – the central hub for information and resources regarding transitioning Wisconsin businesses to an employee ownership model – is pleased to announce a two-year, $50,000 capacity building grant from the Wisconsin Economic Development Corporation (WEDC).
The WEDC grant will allow WICEO to increase its capacity to address the ever increasing racial wealth equity divide by conducting outreach to businesses in rural areas of Wisconsin and those with majority-BIPOC workforces about the benefits of employee ownership via Employee Stock Ownership Plans (ESOPs), worker cooperatives, and Employee Ownership Trusts (EOTs).
“In rural communities, a business owner’s retirement can too often mean the loss of a valued business,” said Missy Hughes, secretary and CEO of WEDC. “Employee ownership is one way for businesses to successfully navigate these transitions. This grant will allow the WICEO to educate and support more business owners planning for the future.”
As a result of this funding, WICEO is pleased to announce the hiring of Ryan Kauth as the non-profit organization’s first staff member. In his role as part-time Executive Director, Kauth will begin statewide programming, education, and outreach on all forms of employee ownership. Kauth is a business coach, lecturer at the Wisconsin School of Business, and has spent the past 25 years working with business owners, including financing strategies and exit strategies.
“We are grateful to the WEDC for their financial support of the WICEO mission adding to our capacity to carry out our mission by hiring a great candidate like Ryan,” said Steve Storkan, Executive Director of the Employee Ownership Expansion Network and Board Member of the WICEO. “We know from experience with other State Centers for Employee Ownership that once a staff member is hired, the effectiveness of a state center in delivering their message about the positive effects of employee ownership for business owners, workers, and communities increases dramatically.”
About the Wisconsin Center for Employee Ownership
The Wisconsin Center for Employee Ownership (WICEO) is a statewide 501(c)(3) nonprofit organization founded in February 2022, with a mission to protect jobs, increase community wealth, and create a more vibrant, inclusive economy. WICEO, a member of the Employee Ownership Expansion Network (EOX) – a network of 21 state centers – serves the entire state of Wisconsin as the central hub for free, unbiased information on employee-ownership. Its primary mission is to educate business owners and their advisors on the benefits of employee ownership. WICEO provides resources, case studies, articles, and a list of service providers who can assist with employee ownership transitions. To learn more, visit: https://wiceo.org.
About the Employee Ownership Expansion Network
The Employee Ownership Expansion Network is a 501(c)(3) non-profit organization founded on July 4th, 2018 in Philadelphia, PA and headquartered in Arlington, VA. Its mission is to significantly expand employee ownership in the United States by establishing and supporting a network of independent, nonprofit State Centers for Employee Ownership. To date, EOX has provided funding and technical assistance to support the opening of 13 State Centers. EOX’s goal is to create one million new employee owners by 2025. To learn more, visit www.eoxnetwork.org.
Media Contact
Steve Storkan, Employee Ownership Expansion Network, 1 651-319-1874, [email protected], www.eoxnetwork.org
SOURCE Employee Ownership Expansion Network
