NJ/NY Center for Employee Ownership

About Us

The New Jersey/New York Center for Employee Ownership (NJ/NY CEO) promotes better understanding of the values of employee ownership among business leaders, public officials, employees, members of the media, students, teachers, nonprofit leaders, consumers, and other persons and organizations in New Jersey and New York.

Objectives

The objectives of the NJ/NY CEO are as follows:

1. Raise awareness. Promote greater awareness of employee ownership as a form of business succession planning among various stakeholders in New Jersey and New York.
2. Create more employee ownership. Increase the number of new, and percentage ownership of existing employee-owned companies in each state.
3. Improve New Jersey and New York's economy. Strengthen New Jersey and New York's economy by retaining and expanding the local workforce though employee ownership.

NJ ESOP Assistance Program

New Jersey business owners with at least 20 full-time employees can apply to the New Jersey Economic Development Authority's (NJEDA) NJ ESOP Assistance Program and, if eligible, will receive partially covered feasibility study services to explore creating an ESOP.

“This is a transformational moment for New Jersey business owners,” says Bill Castellano of the Institute for the Study of Employee Ownership and Profit Sharing. “Our research shows that an ESOP can improve performance and productivity, save jobs, and help employees to build wealth. The problem is that many business owners don’t know it’s an option, or they don’t have the money to hire a consultant to explore it. That’s where this new program will help.”

In tandem with the NJ ESOP Assistance Program, the Rutgers School of Management and Labor Relations has entered into an agreement with the NJEDA to educate New Jersey business owners and other stakeholders about employee ownership.

> Learn more about the NJ ESOP Assistance Program

Rutgers NJ/NY CEO - Bank of America and Infinite Equity Report:

Making the Case for Broad-based Ownership

> View the white paper

NJEDA to Enter Agreement with SMLR to Conduct Public Education and Outreach to Advance Development of Employee Stock Ownership Plans

The programming will be led by SMLR’s Institute for the Study of Employee Ownership and Profit Sharing and its New Jersey/New York Center for Employee Ownership.

Thursday, July 18, 2024

> Read more

Employee Ownership Online Education Program 

The NJ/NY Center for Employee Ownership, with support of the Kellogg Foundation, has developed a free online educational program to help business owners learn about two strategies for business succession planning:

•  Employee Stock Ownership Plan (ESOP)

•  A Worker Cooperative

> Learn more and access the free Employee Ownership Online Education Program

Organizational Status

The NJ/NY CEO is an affiliate of the National Center for Employee Ownership (NCEO), a 501(c)(3) public benefit corporation, supported by volunteers from among New Jersey and New York ESOP companies, service providers and agencies, educational institutions and other interested parties.

Resources

Center Highlights