Press Release: 10/7/2026

Healey-Driscoll Administration Launches New Program to Help Businesses Explore Employee Ownership

New program will help cover costs for businesses considering employee ownership transitions

FOR IMMEDIATE RELEASE:

10/06/2026

BOSTON — As National Employee Ownership month begins, the Executive Office of Economic Development today announces the launch of the Massachusetts Center for Employee Ownership (MassCEO)Technical Assistance (TA) Stipend Program, a new program to help Massachusetts businesses explore employee ownership as a strategy to support long-term business growth, business continuity and job retention. 

Through the Massachusetts Center for Employee Ownership (MassCEO) Technical Assistance Stipend Program, the state will cover 50 percent of eligible costs for businesses assessing a transition to employee ownership, including feasibility studies, valuations, legal services and transaction planning. Businesses can receive up to $25,000 for Employee Stock Ownership Plan (ESOP) projects and up to $12,500 for worker cooperative projects. 

“Employee ownership can be a great way to keep a business thriving and give workers a stake in its future,” said Economic Development Secretary Eric Paley. “A feasibility study helps owners understand whether that path makes sense for their business. By helping cover the cost, this stipend gives more Massachusetts businesses the opportunity to explore employee ownership and plan for what comes next.” 

The program will connect businesses with qualified consultants selected by MassCEO who can provide specialized assistance for potential ESOP and worker cooperative transitions.  

Businesses can apply for assistance on a rolling basis, subject to available funding. For more information and to apply: https://www.mass.gov/info-details/massachusetts-center-for-employee-ownership#massceo-technical-assistance-stipend-program 

About MassCEO  



The Massachusetts Center for Employee Ownership (MassCEO) supports businesses converting to employee ownership models across Massachusetts. MassCEO provides education, outreach, and technical assistance to help business owners evaluate and implement employee ownership models that support long-term business continuity and shared prosperity. MassCEO is part of the Executive Office of Economic Development’s Massachusetts Office of Business Development (MOBD), which assists businesses expanding in and relocating to Massachusetts, with specific attention paid to projects that create and retain jobs and invest capital.  

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