Employee Ownership in PA

Employee ownership keeps businesses and jobs in our state, builds community wealth, and improves business performance. When people have access to good jobs and secure financial futures, the local economy benefits.

Why pennsylvania businesses care?

 

  • It’s a business succession tool – for current business owners looking to retire or sell part of their equity stake, employee ownership is an attractive alternative to selling to a private equity firm or other outside buyers
  • Employee ownership provides flexibility and significant tax benefits, while maintaining the integrity of the company

ESOP COMPANIES:

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increase sales by about 2.3-2.4% per year
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have 25% higher job growth over a 10-year period
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have a 4-5% increase in productivity during the year the ESOP is adopted

Employees at employee-owned companies:

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4 times less likely to be laid off
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8-12% more in wages
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have retirement accounts that are 2.5 times greater than at comparable companies

Why pennsylvania Communities care?

  • Employee ownership keeps businesses and jobs in-state and builds community wealth
  • Employee-owned companies often make it a priority to give back to the communities where they are located

Why Is This Important?

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4.5 million businesses are going to transact over the next 10 years
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70% of business owners say they have no succession plan
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56% of Americans over 55 have less than $50,000 in retirement savings

The following employee-owned companies have won awards like Fortune Magazine's "100 Best Places to Work", "Chain of the Year," "Best of Workers" by B Lab, Forbes List of America's Best Large Employers in 2017, and "Best Places to Work in PA"

Pennsylvania Center for Employee Ownership

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