West Virginia is the 23rd State to Open a Center for Employee Ownership

With the recent opening of the West Virginia Center for Employee Ownership (WVCEO), the network of State Centers for Employee Ownership now numbers 23. That makes fifteen new state centers EOX has helped launch since they were founded in 2019. See the map of State Centers here and meet all the leaders of those centers here.

The WVCEO’s mission is to improve the economic lives of workers in the state of West Virginia by educating business owners, their advisors, local government, and other community stakeholders about the social impact and business benefits of employee ownership. In partnership with the University of Charleston Downtown Innovation Hub – the WVCEO provides resources, seminars and connections to technical assistance providers who can assist with employee ownership transitions across the entire state of West Virginia.

The opening of new state centers like the WVCEO is essential in overcoming one of the main challenges to creating more employee owned companies – lack of awareness. According to the Exit Planning Institute, only 30% of companies have a written succession plan, and only 6% consider employee ownership as part of that plan.

In response, WVCEO will be offering free workshops for business owners and others who want to learn the how and why of a transition to employee ownership. For more information about WVCEO or to get involved, contact Tim Gibbons, Executive Director, at [email protected] or 304-357-4761.