Vermont Business Magazine Governor Phil Scott declared October as Employee Ownership Month in Vermont in a proclamation dated October 1, 2019. The proclamation recognizes the value of employee ownership to Vermont’s economy and in creating opportunities for Vermont workers: “[t]he sale of businesses to the employees offers fair compensation to retiring business owners, while also rooting companies in Vermont and providing their employee-owners with the opportunity to earn a secure and prosperous retirement.”
Vermont consistently ranks at the top of states for the number of employee-owned companies per capita, thanks in part to consistent support for the Vermont Employee Ownership Center (VEOC) from the Vermont Agency of Commerce and Community Development over the past three administrations. According to Matt Cropp, Co-Executive Director of the Vermont Employee Ownership Center, “With our aging demographics, Vermont faces a significant challenge and opportunity as Baby Boomer business owners retire from their enterprises. VEOC is working hard to ‘catch the wave’ by making sure business owners in the Green Mountain State know that an exit to employee ownership is on the menu, and supporting those who choose to pursue such transitions.”
Employee-owners across Vermont are celebrating Employee Ownership Month with events at their companies, as well as with cross-company gatherings to be held in Burlington and White River Junction. Additionally, the Employee Owners of Vermont group of companies is holding a second annual collaborative fundraiser aiming to raise $20,000 and 4,000 pounds of food for the Vermont Food Bank.
Source: October 7, 2019 – Burlington, Vermont – Governor