The Employee Ownership Update
May 1, 2018
Upstate New York Sees Rollout of Pro-Employee Ownership LegislationSen. Kirsten Gillibrand (D-NY) toured employee-owned companies in New York on April 30 to promote the Main Street Employee Ownership Act (S. 2786), which she introduced to the Senate last week. The bill, which has three Republican and three Democratic cosponsors, would increase the amount of both outreach and loan support the Small Business Administration would provide to employee-owned companies.
The senator's promotion was covered extensively by local television stations, including Time Warner Cable News in Binghamton and in Syracuse, WRGB (the Albany CBS affiliate), Spectrum News in Albany, WTEN (the ABC affiliate in Albany), and WTVH (the CBS affiliate in Syracuse).
The senator also discussed employee ownership in a series of tweets, including "Employee ownership is good for businesses, workers, and our local economy. Employee Stock Ownership Plans (ESOPs) and co-ops help workers share in the success of their companies, and they reduce the risk of businesses leaving communities." (See https://twitter.com/SenGillibrand.)