For more than two decades, the Vermont Employee Ownership Center (VEOC) has worked to raise awareness and grow employee ownership in the state, including by providing technical and financial assistance to firms looking to transfer ownership to their workers. Vermont is home to several notable employee-owned companies, like Gardener’s Supply Company and King Arthur Flour, boasting one of the highest rates of employee ownership in the country, and the benefits of this shared prosperity are measurable. The state’s 55 employee-owned companies tend to have higher employee retention rates and narrower pay gaps between leadership and workers when compared to conventionally owned companies. And Vermont’s employee-owned companies report that employee ownership has improved their resiliency. The history of employee ownership in Vermont and the work of VEOC provide useful guidance and insight to those seeking to grow employee ownership and develop new state centers.
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