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Sound of Ideas

Ideastream Public Media

How employee-owned businesses are being operated in Ohio

Jun 25, 202651 min
Summary

The Sound of Ideas episode explores the growing shift toward employee-owned business models in Ohio, a movement gaining momentum as many baby boomer business owners look toward retirement. The hosts and expert guests discuss how this transition, often referred to as the silver tsunami, serves as an effective succession strategy that preserves local legacy and keeps businesses anchored in their communities. The program highlights three primary models of employee ownership: Employee Stock Ownership Plans (ESOPs), worker cooperatives, and employee ownership trusts. Experts from the Ohio Employee Ownership Center, Cleveland Owns, and the Ohio State University Center for Cooperatives explain that while these models vary in structure, governance, and tax incentives, they all share a common goal: shifting power and profit sharing to the workforce. A key highlight is the success story of the Music Box Supper Club, which recently transitioned to an employee ownership trust. This move, a first of its kind in Ohio, demonstrates how employees can evolve from staff members into active stewards of a business. The guests emphasize that while the transition requires significant education and a mindset shift, it fosters greater resilience, productivity, and wealth creation for the workforce.

Updated Jun 26, 2026

About This Episode

Employee Ownership Models There are over 6500 businesses that in some form participate in an employee-owned model, according to a study from Rutgers University. These businesses vary from an ESOP, or employee stock ownership plan, which is the most common form or profit-sharing, to a worker-owned cooperative, where workers can vote on things like a board of directors. Thursday on the "Sound of Ideas," we'll take a deeper look at the employee ownership model, and find out why some aging business owners are embracing that model. We'll hear from one Northeast Ohio business that recently transitioned to an employee trust model with the help of the Ohio Employee Ownership Center at Kent State University. Guests:- Michael Palmieri, Associate Director, Ohio Employee Ownership Center, Kent State University- Jonathan Welle, Lead Organizer & Founding Board Member, Cleveland Owns- Mike Miller, Founder and Managing Partner, Music Box Supper Club- Hannah Scott, Program Director, The Ohio State University - College of Food, Agricultural, and Environmental Sciences, Center for Cooperatives "The Menu: Employee Ownership and Food" Later in the program, we'll stay with the employee ownership discussion, and look at one local coffee roaster, Phoenix, who is a employee-owned cooperative. They have five cafes, and a roastery, across Northeast Ohio. We'll hear from the General Manager about why he says that model serves the business. Guests:- Toby Reif, General Manager, Phoenix Coffee - Michael Palmieri, Associate Director, Ohio Employee Ownership Center, Kent State University - Jonathan Welle, Lead Organizer & Founding Board Member, Cleveland Owns

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