socalledunitedstates:With a New Fund, Evergreen Cooperatives Looks to Spread the ‘Cleveland Model’Si
socalledunitedstates:With a New Fund, Evergreen Cooperatives Looks to Spread the ‘Cleveland Model’Since their inception ten years ago, the Evergreen Cooperatives in Cleveland, Ohio have served as a promising model of economic development in a post-industrial city. The three worker cooperatives—an industrial laundry company, a green energy services contractor, and a hydroponic greenhouse (pictured above)—collectively employ over 200 individuals, many of whom have become worker-owners. In a city where median household income hovers around $18,500, these companies pay their workers a living wage and share with them the profits they produce.Now, the Evergreen Cooperatives network is taking matters into its own hands with a new fund that will acquire existing companies from retiring business owners and sell them back to the employees. The Fund for Employee Ownership, as the Evergreen fund is called, is the latest and perhaps most potent initiative aimed at expanding employee ownership and the principles of democratic governance.Read more… -- source link
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