A5016

Establishes program in EDA to encourage employee ownership awareness and provide funding and advisory support.

The bill requires the New Jersey Economic Development Authority (EDA) to establish an “Employee Ownership Transition Program” to provide financial assistance and educational resources to encourage businesses to explore transitioning their ownership structure to an employee ownership model and to provide educational resources to businesses about employee ownership models. The EDA must designate a Director of Employee Ownership to administer the program.