OUR VISION FOR VERMONT

We envision a future where broad-based employee ownership with deep employee participation is a mainstream and widely celebrated business model in the state of Vermont, contributing to social and economic justice and thriving egalitarian communities.

OUR STORY

The VEOC was established in 2001 with the goal of promoting and fostering all broad-based employee ownership models, with the primary strategy of helping existing businesses become employee owned. VEOC’s founder Don Jamison had been exploring employee ownership since the early ‘90s, when he learned of a company that had been successfully set up using the worker ownership model, and launched a number of initiatives to help start new worker co-ops. It wasn’t long before Jamison discovered that there was a tremendous opportunity in shifting focus to educating retiring local business owners about employee ownership as a succession plan.

Ever since, VEOC has prioritized outreach and education for retiring owners, emphasizing the importance of assessing the viability of both the worker cooperative and Employee Stock Ownership Plan (ESOP) models when considering an employee ownership transition. With a mission to support all broad-based employee ownership models, which today also includes Employee Ownership Trusts (EOTs), we’re able to serve small businesses with only a few employees as well as larger companies of dozens or hundreds of employees.

Over the years, VEOC's funding has evolved from repurposed private grants to a mix of foundation grants, private sponsorships, federal appropriations secured by political figures like Senator Patrick Leahy and Senator Bernie Sanders, and state legislature funding. With the legislature having adopted a position in favor of employee ownership in Vermont, our state funding has become our most reliable form of financial support over the years, allowing us to sustain and expand our operations.

VEOC through the years

  • 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 2011, PT360, a physical therapy practice with 12 member-owners had its launch.  The VEOC participated in early meetings and helped with bylaws.

  • In 2015, The New School of Montpelier converted to a worker co-op after working with the VEOC extensively, and with the assistance of the Vermont Employee Ownership Loan Fund.

  • In 2019, Alliance Group, an HVAC company headquartered in Essex Junction with over 100 employees converted to 100% owned through an ESOP. Also that year, Nutty Steph's--now known as Rabble-Rouser--a chocolate and granola manufacturer in Middlesex, converted to a worker cooperative.

  • In 2021, Alpine Snowguards, a Morrisville-based snowguard manufacturing company, adopted an ESOP which transferred 100% of ownership of the company to the employees.

  • In 2022, Bill Austin sold the architecture firm he’d founded to the employees through the worker cooperative structure, marking the start of a new chapter for the team with an updated name, Austin Design Cooperative.

  • In 2023, Covered Bridge Cookies in Windsor became worker-owned as a team of three locals took ownership over the business together as its founding owners readied for retirement.

The VEOC is a tax-exempt non-profit educational organization. We are always grateful for contributions and in-kind donations.