ESOP-Owned Butler/Till Wins Contract as Women-Owned Subcontractor
Executive Director
Many businesses lose their special-status designation—such as minority-, women-, or veteran-owned businesses—when an ESOP becomes their majority owner, but different certifying agencies use different, and often complex, rules. Butler/Till is 100% owned by an ESOP, and earlier this month it announced it had been selected as the women-owned contractor for Empire State Development, New York's primary economic development agency. A majority of Butler/Till's shares are held in ESOP accounts belonging to women.
The NCEO is actively engaged in a project to assess the interaction of special-status companies and employee ownership. Please contact Tim Garbinsky ([email protected]) for more information.
Butler/Till was also featured in a Forbes blog post by Mary Josephs titled "Stop Pampering Your Millennials: How Butler/Till Asks More, Not Less, of its Many Young Employees."