NCBA CLUSA was proud to sign on to a letter led by the Worker-Owned Recovery California (WORC) Coalition urging the Budget Committee leaders of the California Legislature to make a $10 million investment to support “education, technical assistance, and forgivable loans to businesses that transition to worker ownership” to preserve local ownership of small businesses and millions of jobs.
The impacts of both the COVID-19 crisis and the looming retirement of thousands of baby boomers is a threat to Main Street businesses. Instead of selling to out-of-state owners or simply closing their doors, this investment would be critical to support employee buyouts of otherwise healthy small businesses.
Among the 17 co-signers, the letter was also signed by numerous NCBA CLUSA members: U.S. Federation of Worker Cooperatives, Democracy at Work Institute, California Center for Cooperative Development, Arizmendi Association of Cooperatives, and A Slice of New York Pizza.
View the coalition letter here.
The coalition letter supports the request made the same day by a group of six California Assembly members: Kansen Chu, Ash Kalra, Lorena Gonzalez, Monique Limon, Richard Bloom, and Rob Bonta.
View the letter from the Assembly members here.