Comment on Employee-owned businesses receive boost from Colorado commission

Employee-owned businesses receive boost from Colorado commission

The Colorado Economic Development Commission earmarked $500,000 from the state’s strategic fund on Thursday to pay for a new state initiative to promote employee-ownership. The Employee Ownership Program is a top priority for Gov. Jared Polis, who signed an executive order last week to create the Commission on Employee Ownership. The group of 10 advisers should come together in the next month, said John Kovacs, who is heading up the program for the state. Among those serving on a “kitchen cabinet” until a more formal commission forms are representatives from Colorado Small Business Development Center, the Rocky Mountain Employee Ownership Center, the Rocky Mountain Farmers Union, and the Interfaith Alliance. Of the total approved, $5,000 will be made available for startup costs, with a request for a much bigger allocation to follow as the scope of the program becomes more defined, said Jeff Kraft, director of business funding and incentives at the Colorado Office of Economic Development. “This is just a floor request, a preliminary stake in the ground,” Kraft said.

 

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