New York's junior senator, Kirsten Gillibrand announced that new legislation is set to be presented to help make it easier for businesses to become employee owned. This announcement was made while the senator was visiting Schenectady Steel Company which has been 100% employee owned since 1975 and turning 100 years old in 2024. "The Main Street Employee Ownership Act" is a bi-partisan bill which "aims to improve access to loans for ESOPs or co-ops and make it easier for small businesses to transition to an employee owned model. It's an effort to retain local business, and reward hard work."
Topics:
pro-ESOP legislation
