Employee Stock Ownership Program (ESOP)
Companies facing succession planning issues often struggle with the decision to stay open or sell. An Employee Stock Ownership Plan (ESOP) is a qualified employee benefit plan that offers tax-advantages to owners, and meaningful benefits to employees. It enables owners to get a fair price for their business and saves jobs by keeping the business open.
The Labor Department will work with businesses to conduct a prefeasibility to see if the company can benefit from this program.
Division of Employment and Workforce Solutions - Business Service Unit
NYS Department of Labor
State Office Campus
Building 12, Room 425
Albany, NY 12240