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How Many Firms Are Good Candidates for Employee Ownership?
April 8, 2025
Economic Opportunities Program
Matt Mazewski, Ph.D.
Research Associate and Louis O. Kelso Fellow, Rutgers Institute for the Study of Employee Ownership and Profit Sharing
Description
In this research brief, we provide back-of-the-envelope calculations showing that, as of 2022, about 140,000 firms employing around 33 million workers would have been suitable candidates for ESOP employee buyouts, and nearly 1.1 million firms employing over 25 million workers suitable candidates for cooperative employee buyouts.
Collectively, these firms accounted for roughly $25 trillion in total revenues (in 2024 dollars). The data used in this exercise were drawn from several different sources, including the US Census Bureau’s Annual Business Survey, County Business Patterns, and Economic Census.
Notably, we find that even under alternative modeling assumptions the resulting estimates would still point to substantial scope for expansion of employee ownership in the US today.
About the Rutgers Institute for the Study of Employee Ownership and Profit Sharing
The purpose of the Institute for the Study of Employee Ownership and Profit Sharing is to study the various models that have emerged and will emerge of employee ownership shares and profit shares in the corporation and society of the United States and around the world.
About the Economic Opportunities Program
The Aspen Institute Economic Opportunities Program advances strategies, policies, and ideas to help low- and moderate-income people thrive in a changing economy.
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