Cincinnati Union Cooperative Initiative

We continued working to expand our business legacy fund program. We engaged with 13 businesses in the cincinnati and northern kentucky area, with 8 of them currently in the process of exploring worker ownership as a succession strategy. These businesses collectively employ a total of 360 workers. To date, we have provided training to 7-10 employees, reflecting the early stages of the transition process for many of these companies. As the transitions progress, we are positioned to train significantly more workers in the coming months. We continued our engagement with a garden center and greenhouse, which employs 18 workers and generates.co-op cincy partnered with the goering center for a well-received luncheon focused on business succession strategies, specifically spotlighting employee stock ownership plans and worker-owned cooperatives. The event provided attendees with practical tools and insights, whether they were planning ahead or exploring immediate succession options. Chris bennett, co-op cincy's business legacy fund acquisition program manager, presented at the nceo fall forum in indianapolis. Bennett co-led an interactive session on the power of employee ownership, focusing on how combining financial stakes with a participatory culture can unlock the full potential of this model. These initiatives continue to advance our mission of empowering workers and supporting business owners in transitioning to employee ownership.the business legacy fund engaged with key stakeholders to expand awareness and foster partnerships around employee ownership transitions. We participated in a women's chamber event to connect with local women business leaders, and held meetings with first financial bank and huntington bank to explore potential collaboration on financing options for business owners transitioning to worker ownership. Also, a part of our outreach initiatives we hosted a booth at a recent score event to broaden our audience and network. We met with a business advisor to discuss strategies for supporting business owners we also had productive conversations with mergers and acquisitions lawyers to ensure legal frameworks for these transitions are robust. We deepened relationships in the business community and partnered with organizations across ohio. This increased our reach and impact in educating the larger community about the value and viability of worker-ownership.

Through our technical assistance program, staff members supported the stabilization, development, and growth of the 14 co-op businesses in our network, including the co-ops mentioned above. Staff met with co-op teams an average of 2-5 hours weekly, tailoring meetings to team needs and helping team members tackle challenges. Staff provided training on open book management, business best practices, financial literacy, hr systems, leadership skills, communication and marketing strategies, and conflict management. Staff also connected co-op team members to resources. Through weekly meetings and the occasional retreat, we developed goals and tracked team progress. We evaluated results at least quarterly. If we determined there was insufficient progress, we developed interventions. In addition, through our loan program, we helped remove barriers to development for new and existing co-ops.through our partnership with the seed commons financial co-op, during this fiscal year we loaned over 2.1 million to 5 co-op businesses and a land trust in our network.we continued hosting monthly co-op socials for our co-op network to foster deeper connection and community. The leadership team of the co-op of co-ops continued to meet every two months and the co-op of co-ops was formally incorporated.

We offered our 3rd cooperative management certificate course in partnership with the xavier university leadership center. The 12-week courses had a total of 8 participants and explored the powers of cooperatives to structure businesses in ways that make them profoundly accountable to workers, environments, and communities. Our statewide ohio worker ownership network was formed in 2021 with co-op cincy as the lead organizer. Own strives to expand worker-ownership in ohio by raising awareness, providing technical assistance, and connecting business owners with resources. Own has 7 member organizations throughout the state and held its second in-person meeting. Own members gathered at the ohio employee ownership center's conference in akron to connect, develop cooperative skills, share best practices, create legal tools and templates, and discuss strategies for expanding worker-ownership in ohio. In addition, own held regular virtual meetings.