Overview of OEOC Programs

The Ohio Employee Ownership Center (OEOC) is a non-profit, university-based program established at Kent State University in  1987 to provide outreach, information, and preliminary technical assistance to Ohio employees and business owners interested in exploring  employee ownership. The OEOC provides ownership training on a single and multi-company basis to existing employee-owned firms and is funded by grants from a range of public and private agencies and foundations, program income, and fee-for-service work.

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History

The origins of the OEOC lie in a series of research projects conducted between 1984 and 1986 by Dr. John Logue of  Kent State University’s Political Science Department. This research explored the impact of employee ownership on Ohio’s economy and concluded that it did have a positive effect on the local economy. However, it was also found that the utilization of employee ownership was limited, especially in cases where job loss was threatened by the lack of timely and accurate information on how to successfully pursue an  employee buyout of the facility. Since that time, the OEOC has expanded its services to include assistance for business owners planning for succession (and help with selling to their employees); training and education programs for all levels in employee-owned companies; new employee-owned business development services, and more.

Objectives & Services

The OEOC’s information and outreach activities are designed to promote the possible uses of employee ownership under a variety of circumstances, ranging from succession planning to employee buyouts. The OEOC provides preliminary technical assistance to companies, community groups, and unions that are interested in exploring the possibility of employee ownership for their particular situation. Although the Center does not provide professional legal, accounting or valuation services, it does maintain a database of lawyers, investment bankers, valuators and other professionals who specialize in providing ESOP services.

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