Resolution SR2024-0009481
Approved
Call for hearing(s) on promoting potential and benefits of an employee ownership business model for Chicago businesses
Auto-generated summary
Chicago's 'Silver Tsunami' crisis threatens baby boomer-owned businesses. The resolution promotes employee ownership, including ESOPs, Worker Cooperatives, and Employee Ownership Trusts, offering quality jobs, benefits, and retirement savings, and closing the wealth gap for Black, Latino, and women workers. It acknowledges 41 privately held ESOP companies in Chicago, distributing $6.6 billion in wealth, and the Community Wealth Building Initiative's value in new businesses.
Alternate identifiers: R2024-0009481
