Greeley to Host Free Employee Ownership Workshop for Local Businesses
The City of Greeley will host a free workshop on employee ownership structures October 28 at the Greeley Area Chamber of Commerce, offering local business owners and employees information about converting to employee-owned business models.
The event runs from 11:30 a.m. to 1 p.m., with lunch served from 11:30 a.m. to noon followed by presentations from noon to 1 p.m. First National Bank of Omaha is presenting the session.
Speakers from the Colorado Office of Economic Development and International Trade and the Center for Community Wealth Building will discuss resources available to companies considering transitions to employee ownership models including Employee Stock Ownership Plans, worker cooperatives and Employee Ownership Trusts.
"This first-of-its-kind event in Greeley highlights the City's commitment to collaboration," said Robert Thompson, Workforce Development Manager for the City of Greeley. "It aims to enhance economic development, increase local income and build a more inclusive economy."
Colorado Offers Tax Credits for Business Transitions
The Colorado Office of Economic Development and International Trade operates an Employee Ownership Office established in 2019 to support business conversions to employee ownership structures, according to the National Center for Employee Ownership.
The state provides refundable income tax credits covering up to 50% of qualified conversion costs, with caps of $150,000 for ESOPs and $40,000 for worker cooperatives or Employee Ownership Trusts, according to the Colorado Office of Economic Development and International Trade. Eligible expenses include business valuations, legal and accounting fees, employee education and feasibility studies.
Colorado law also allows worker cooperatives to deduct up to $1 million of federal taxable income from their annual state taxable income, according to the National Center for Employee Ownership. Starting in 2027, owners who sell businesses to employee-owned entities will receive a state capital gains tax subtraction.
Employee Stock Ownership Plans function as retirement plans where a trust holds company stock on behalf of employees who accrue shares over time based on salary and length of service, according to the U.S. Chamber of Commerce. Worker cooperatives are owned and operated by employees who each receive equal voting rights in governance decisions. Employee Ownership Trusts hold company shares for the benefit of all employees through a less complex structure than ESOPs.
Regional Economic Development Initiatives
The workshop represents Greeley's ongoing efforts to strengthen local business infrastructure and support economic development strategies. The city has partnered with gener8tor to operate the gBETA Greeley startup accelerator, which selected five agriculture and energy technology companies for its Fall 2025 cohort in October.
The event coincides with October's designation as Employee Ownership Month nationally.
Research indicates employee-owned businesses demonstrate higher retention rates and lower relocation rates compared to traditionally structured firms, according to the National Center for Employee Ownership. Studies show ESOP participants tend to earn higher wages than peers in similar traditional companies due to both increased base pay and additional ownership benefits including profit sharing and retirement distributions.
During economic downturns including the COVID-19 pandemic, employee-owned firms demonstrated lower job loss rates and faster recovery compared to non-employee-owned businesses, according to research from Harvard Business School.
More than 6,500 ESOPs operate nationwide, with numbers growing in Colorado due to state incentives, according to the Small Business Development Center. Employee-owned businesses in Colorado span manufacturing, professional services, construction, food and beverage, and health care sectors.
Registration information is available on the Greeley Area Chamber of Commerce website.