BOSTON — The Healey-Driscoll administration launched a new program Tuesday, Oct. 6, 2026, aimed at helping Massachusetts businesses cover the cost of exploring transitions to employee ownership as a strategy to support long-term business growth, business continuity, and job retention.
According to the Executive Office of Economic Development, through the Massachusetts Center for Employee Ownership Technical Assistance Stipend Program the state will cover 50% of eligible costs for businesses considering employee ownership. Eligible expenses include feasibility studies, business valuations, legal services, and transaction planning.
Businesses can receive up to $25,000 for Employee Stock Ownership Plan, or ESOP, projects and up to $12,500 for worker cooperative projects.
“Employee ownership can be a great way to keep a business thriving and give workers a stake in its future,” Economic Development Secretary Eric Paley said. “A feasibility study helps owners understand whether that path makes sense for their business. By helping cover the cost, this stipend gives more Massachusetts businesses the opportunity to explore employee ownership and plan for what comes next.”
The program will also connect participating businesses with consultants selected by the Massachusetts Center for Employee Ownership who specialize in ESOP and worker cooperative transitions, the Executive Office of Economic Development said.
Applications will be accepted on a rolling basis, subject to available funding. More information about the program and how to apply is available here.
