Establishes the Rhode Island Center for Employee Ownership to assist businesses in transitioning to employee-owned models.

The Rhode Island Center for Employee Ownership (RICEO) is established to facilitate businesses transitioning to employee-owned models. The RICEO aims to provide resources, technical assistance, and a concierge service to both legacy business owners and worker owners. It will also create a network of technical support providers, including accountants and lawyers, and work with financial institutions to shape lending guidance. The RICEO will collaborate with state agencies and other organizations to promote employee ownership benefits and succession models.

Establishes the Rhode Island Center for Employee Ownership to assist businesses in transitioning to employee-owned models.

The Rhode Island Center for Employee Ownership (RICEO) is established to facilitate businesses transitioning to employee-owned models. The RICEO aims to provide resources, technical assistance, and a concierge service to both legacy business owners and worker owners. It will also create a network of technical support providers, including accountants and lawyers, and work with financial institutions to shape lending guidance. The RICEO will collaborate with state agencies and other organizations to promote employee ownership benefits and succession models.