Employee Stock Ownership Plan Assistance Program (ESOP)

Open in new Tab EMPLOYEE STOCK OWNERSHIP PLAN ASSISTANCE PROGRAM This program is not currently accepting applications. The  Employee Stock Ownership Plan Assistance Program  will provide partially covered ESOP feasibility study services for New Jersey businesses that are interested in transitioning to employee-owned firms. The NJEDA is partnering with experienced firms to provide the consultative services to assist interested businesses in the first steps of the transition process. employees should consider the following when seeking feasibility study services and ultimately, an ESOP transition: Is the current owner seeking a cost effective means of retirement and/or succession planning? Does the business currently employ at least 20 full-time employees? Is the business structure stable and sustainable in terms of revenue and governance? Is the business seeking to provide additional benefits for their employee? Interested businesses should complete the ESOP Assistance Program Application to be made available in the coming weeks, in order to begin the process of receiving assistance from one of the qualified firms. For any questions regarding the program, please contact [email protected] . NJEDA has also partnered with Rutgers University School of Management and Labor Relations (SMLR) to provide educational materials on employee ownership to the public. You can find more information on ESOPs, employee ownership structures, and more here . General Employee Ownership Information Employee Ownership – Business Owners Employee Ownership – Employees The  Employee Stock Ownership Plan Assistance Program  provides partially covered ESOP feasibility study services for New Jersey businesses that are interested in transitioning to employee-owned firms. The NJEDA is partnering with experienced firms to provide the consultative services to assist interested businesses in the first steps of the transition process. employees should consider the following when seeking feasibility study services and ultimately, an ESOP transition: Is the current owner seeking a cost effective means of retirement and/or succession planning? • Does the business currently employs at least 25 full-time employees? • Is the business structure stable and sustainable in terms of revenue and governance? • Is the business seeking to provide additional benefits for their employee? Interested businesses should complete the Eligibility Tool Form in order to begin the process of receiving assistance from one of the qualified firms. For any questions regarding the program, please contact [email protected] NJEDA has also partnered with Rutgers University School of Management and Labor Relations (SMLR) to provide educational materials on employee ownership to the public. You can find more information on ESOPs, employee ownership structures, and more here .  The NJEDA and SMLR will be hosting a webinar on ESOPs and the Assistance Program on December 9 th at 5 board memo PROGRAM SPECIFICATIONS sign up to receive updates through our mailing list ESOP Contact Form