Virginia Commission Recommends Promoting ESOPs

The Commonwealth Competition Council and the Secretary of Administration in Virginia have issued a report that recommends the state enact legislation to promote the use of ESOPs in the private sector and in the process of privatizing state-owned or operated entities. The report recommends that a state agency be assigned the task of finding ways to facilitate employee ownership through education, outreach, and technical support. The report also recommended funding feasibility studies on selected state functions that could be privatized through employee ownership.

Copies of the report can be obtained by writing the Commonwealth Competition Council, P.O.B. 1475, Richmond, VA 23212. Request the report entitled "Secretary of Administration and the Commonwealth Competition Council on Methods to Privatize Appropriate State Government Functions through the Development and Promotion of Employee-Owned Companies."