History

Since forming in 2001, the Vermont Employee Ownership Center has provided direct assistance to representatives of nearly 200 Vermont businesses, ranging in size from only a few employees to several hundred.  Fifteen of these businesses went on to implement some form of employee ownership.  Some highlights:

  • In 2003, we assisted the founder and four employees of a construction company to re-organize as a worker cooperative. The new company, called Red House Building, now has a dozen members (employee owners) and ten other employees on track to become owners.
  • In 2005, Birdseye Building, a 40-employee business, implemented an Employee Stock Ownership Plan (ESOP).  The VEOC provided advice and referrals.
  • In 2006, Green Mountain Spinnery became owned by all nine of its full-time employees through a worker cooperative structure. The VEOC provided extensive assistance during this ownership transition.
  • In 2009, Belcam, a New York-based manufacturing company with over 90 employees, some of them Vermont residents, became a 100% ESOP-owned company.  The VEOC provided referrals and advice.
  • In 2010, Clear Solutions, a New Hampshire-based manufacturing company with 40 employees, some of them Vermonters, implemented an ESOP.  The founder attended our conferences and workshops and met with us during the period he was considering the ESOP as an exit strategy.
  • In 2010, Vermont Aerospace, a manufacturing company with over 200 employees, became 100% ESOP-owned.  The VEOC played an important role early in this deal.
  • In 2011, PT360, a physical therapy practice with 12 member-owners had its launch.  The VEOC participated in early meetings and helped with bylaws.

The VEOC has presented its Vermont Employee Ownership Conference in June each year since 2003, with an average attendance of over 150.  We also give workshops and shorter presentations around the state, often in partnership with local Chambers of Commerce.