Manitoba Fund Creates Canadian ESOP
In a few Canadian provinces, employees are able to get both provincial and federal tax credits for buying employer stock. They can also get credits for investing in labor venture capital funds that invest in local companies. In Manitoba, Sherman Kreiner, who formerly headed PACE, a Philadelphia based worker ownership support group, now heads Crocus, a Manitoba labor venture capital fund. Sherman has devised a way to create an ESOP like structure using Canadian law. For more information, contact Crocus at 204-925-2400.