Agenda

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Speakers today

- Discussion with panelists: Christine Curella, Anh-Thu Nguyen, and Marcelino Martinez

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Agenda and Outcomes

Discussion with panelists: Christine Curella, Anh-Thu Nguyen, and Marcelino Martinez

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Understand: what a worker co-op is, how the model can be used to advance social and economic development goals

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Explore: cases of uptake/use of the model in New York City

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Consider: roles for public, non-profit, higher education (including CUNY), and philanthropic leaders to play in utilizing the model effectively

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What’s a Worker Co-operative?

• Democratically owned and governed enterprise

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• Typically: “one person, one vote”

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• Not every decision is voted on by everyone: “management” can exist

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• Surplus (profit) divided between workers or reinvested

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• Not 100% financial equality: salaries can vary by role

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• “Form” varies: not always formally a “cooperative corporation”, can also be:
• employee stock ownership plan with democratic bylaws
• employee ownership trust
• an LLC with cooperative bylaws

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Worker Cooperative Impact in NYC

Why Worker Cooperatives for Social Impact in NYC? History and Context

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NYC Worker Cooperative Business Development Initiative

• Launched in 2014 and continuing through present, the oldest and largest municipally funded worker cooperative development program in the U.S.
• 14 members working within and across the 5 boroughs of NYC, including technical service providers, loan funds, educational institutions, and community based organizations
• Administered through the NYC Department of Small Business Services
• Centering low-wage, BIPOC, immigrant communities

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How Cooperation Happens: Learnings from the NYC Worker Cooperative Ecosystem

• Shared funding and advocacy through NYC Council
• Shared technical assistance provision: Owner to Owners hotline
• Cooperative Sustainability Fund
• Collaborating on education and technical assistance opportunities for cooperative success
• Building the broader ecosystem: regranting funding to emerging cooperative developers in NYC
• Developing and supporting a worker-owner Advocacy Council to effectively advocate on behalf of worker cooperatives at the local level

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Sectoral/Targeted Strategies

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-Owner to Owners hotline: Innovation to Preserve “Legacy Businesses”

• “Silver Tsunami”: wave of boomer-owners retiring with no clear buyer for viable, profitable businesses
• Closures hurt everyone: owners, workers, gov’ts via property taxes/occupancy rates, unemployment/retraining costs
• Hotline: 2020 to present

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-Immigrant Entrepreneurship

• Newcomers vital source of small business creation in US, NY
• Can own/start-up via an LLC regardless of status
• Can do so collectively with an LLC w/ co-op bylaws

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Funding: Philanthropic Granting/Investing Where/When U.S. SBA Does Not

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Case Studies

Radiate Consulting LLC

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Learnings – Opportunities

Integrating and mainstreaming worker ownership as part of a sustainable workforce and economic development strategy in NYC through

• Education
• Talent pipeline and recruitment
• Institutional resources
• Funding, incubation and development
• Market and industry access
• Policy and advocacy

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CUNY as Thought Leader/Expert Resources

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CUNY as Thought Leader/Expert Resources

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• Carmen Huertas-Noble, Assoc. Dean, Professor, CUNY Law
• Jessica Gordon Nembhard, Professor, John Jay/Grad Ctr
• Rebecca Lurie, Lecturer, School of Labor and Urban Studies
• Jim Mandiberg, Assoc. Professor, Hunter College/Grad Ctr
• Mike Menser, Professor, Brooklyn College/Grad Ctr
• Jason Spicer, Asst. Professor, Baruch College/Grad Ctr
• Seon Mi Kim, Asst. Professor, Hunter College�

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Learn More

NYC Worker Cooperative Business Development Initiative

Owner to Owners Hotline

U.S. Federation of Worker Cooperatives

Democracy at Work Institute

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Thank you!

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Anh-Thu Nguyen

Director of Strategic Partnerships

Democracy at Work Institute

atnguyen@institute.coop

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