San Diego Business Journal

Employee ownership … what’s it all about?

A panel of executives who have made the journey to employee ownership will join other experts to offer their thoughts on the topic during a virtual town hall on Tuesday, April 20. The event will run from 9:30 to 10:30 a.m. and is free of charge.

To register, go to https://tinyurl.com/3cs3jbmt

Speakers will include Sandie Taylor, director of people operations at Modern Times Beer; Seth Stein, CEO of Eastridge Workforce Solutions; and Barbara Wight, CFO of Taylor Guitars.

The San Diego Regional Economic Development Corp. and San Diego Workforce Partnership are co-hosts of the event.

The partners will convene nearly 200 business leaders to discuss employee ownership as part of its Right Recovery Town Hall series, underwritten by San Diego Gas & Electric Co.

Baby boomers own about half of all privately held, job generating businesses in the United States. As this population reaches retirement age, we will see a massive ownership changeover of locally held businesses, whether through sale, M&A, IPO or family transition. Some businesses will likely close.

The transition to employee ownership offers an effective and meaningful way for businesses to retain a dedicated workforce, take advantage of a significant tax benefit, and ensure wealth-building that will lead to more thriving households across the San Diego region. Proven benefits of this model include higher workforce productivity, more than two times the retirement balance of the average American for employees, a competitive selling price for business owners/founders and more.

Also speaking at the event will be Nikia Clarke, vice president of economic development at the San Diego Regional EDC; Kim Blaugher, executive director at The Beyster Institute; Evan Edwards, director, strategic partnerships and business engagement, Project Equity; and Andy Hall, chief impact officer at the San Diego Workforce Partnership.

This is the second in EDC’s Right Recovery Town Hall Series.

Registration for the April 20 event is at https://tinyurl.com/3cs3jbmt