Build community wealth through the LOCAL Fund for Shared Ownership

Build community wealth through the LOCAL Fund for Shared Ownership

Explore an innovative and collaborative approach to fostering economic resilience and community wealth in Saint Paul: worker cooperatives. These unique ownership models provide a compelling opportunity to engage employees as co-owners, promoting shared responsibility, equitable decision-making, and long-term stability for your business.

Worker cooperatives are businesses that are owned and democratically governed by the employees. This model empowers workers and strengthens the local economy by keeping resources and profits within the community.

For business owners, transitioning to a worker cooperative can offer a succession solution, increase employee retention, and build a dedicated workforce. Whether you are considering retirement, enhancing workplace culture, or investing in your community, now is a great time to explore the possibility of converting to a worker cooperative.

To help support you in your planning, the City of Saint Paul is proud to partner with Nexus Community Partners as the administrator of the LOCAL Fund for Worker Ownership.

Ready to learn more about how worker cooperatives can benefit your business and employees? Here are some ways to get started:

• Visit the Shared Ownership Center’s website at ownwork.org.
• Contact the Shared Ownership Center at Nexus by emailing soc@nexuscp.org or connect with the City of Saint Paul’s Office of Financial Empowerment at mai.c.yang@stpaul.gov.
• Register for the upcoming free business planning webinar series. Each webinar builds upon the last and is aligned with the LOCAL Fund application. Sessions will take place (almost) every other Thursday, 3 - 4:30 p.m. from April until June. By the end of the series, if the LOCAL Fund is a good fit for you and your team, you will be ready to apply!