Healey-Driscoll Administration Unveils Massachusetts Center for Employee Ownership, Declares October “Employee Ownership Month”

BOSTON - Today, the Healey-Driscoll Administration today formally launched the Massachusetts Center for Employee Ownership (MassCEO), a new statewide hub to help businesses explore and adopt employee ownership models. The Administration also proclaimed October as Employee Ownership Month in Massachusetts, joining a national celebration of businesses that give workers a stake in their company’s success. 

MassCEO is a statewide resource for businesses interested in adopting employee ownership models to support succession planning, build wealth for workers, advance income equity, and strengthen employee engagement. The Center provides information, technical assistance, and referrals to businesses exploring Employee Stock Ownership Plans (ESOPs), cooperative business ownership (Co-ops), or Employee Ownership Trusts (EOTs). 

“Employee ownership is a powerful tool for building stronger companies and stronger communities,” said Governor Maura Healey. “By helping more Massachusetts businesses convert to employee ownership, we can expand opportunity, keep jobs rooted in local communities, and ensure that the benefits of business success are shared more broadly.” 

“Employee-owned businesses strengthen our local economies by keeping decision-making and wealth right here in Massachusetts,” said Lieutenant Governor Kim Driscoll. “This initiative is about helping business owners plan for the future while giving workers a real stake in the success they help create.”  

“Employee ownership is a powerful tool to help small businesses plan for the future and protect good jobs across Massachusetts,” said Economic Development Secretary Eric Paley. “Through MassCEO, we’re making it easier for business owners to explore their options, connect with experts, and take the steps needed to transition to employee ownership, keeping more jobs and opportunity here in the Massachusetts.” 

As part of today’s announcement, the Administration unveiled a new MassCEO website, an online resource offering guidance for businesses interested in employee ownership, and a “Massachusetts Employee Owned” campaign to encourage businesses to register with the Center to receive news and resources related to employee-ownership. 

MassCEO is guided by a 19-member Advisory Board on Employee Ownership that launched in March 2024 and led by MassCEO Interim Director and MOBD Central Massachusetts Regional Director Kevin Kuros. The board meets monthly to set strategic priorities, including brand development for the center and the planning of regional symposiums to raise awareness of employee ownership models across the state. 

For more information about the Massachusetts Center for Employee Ownership and upcoming symposiums and webinars to educate business owners, economic development professionals, and community leaders on employee ownership models, visit www.mass.gov/massceo.  

About MassCEO and the Massachusetts Office of Business Development 

The Massachusetts Center for Employee Ownership (MassCEO) aims to promote and expand employee ownership across Massachusetts. MassCEO provides education, outreach, and technical assistance to help business owners evaluate and implement employee ownership models that support long-term business continuity and shared prosperity. MassCEO is part of the Executive Office of Economic Development’s Massachusetts Office of Business Development (MOBD), which assists businesses expanding in and relocating to Massachusetts, with specific attention paid to projects that create and retain jobs and invest capital. The MOBD team provides a highly responsive, central point of contact that facilitates access to resources, expertise, and incentive programs for businesses.