Montgomery County Community College: Online Panel Discussion Highlights The Benefits Of Employee Stock Ownership Plans

Press release from the Montgomery County Community College:

Diane VanDyke

April 29, 2021

Montgomery County Community College’s new Baker Center of Excellence for Employee
Ownership and Business Transformation will host a free online panel discussion, “How
ESOPs Can Unlock Success for Your Business and Transform Our Community.” The panelists
will provide information about Employee Stock Ownership Plans (ESOPs) and how they
can benefit businesses and employees.

The virtual event will be held on Wednesday, May 12, from 2 to 3 p.m. and is free
and open to the community. Register online to attend.

online

The panelists will include:

MCCC President Dr. Victoria L. Bastecki-Perez will provide welcoming remarks, and
MCCC’s new Dean of Workforce and Economic Development Kyle Longacre will serve as
the facilitator.

“We are thrilled to convene this panel. Again and again, as I talk with ESOP business
partners, they share a robust energy, both for their ownership model and the collaborative
growth of their companies,” said Longacre. “I want our regional business leaders to
hear this message as our economy emerges from the pandemic strong, innovative, and
confident.”

As part of the discussion, the panelists will talk about how MCCC’s new Baker Center
of Excellence will serve as a hub of support for ESOPs and other county and regional
businesses that want to grow and thrive as they seek to champion the success and skills
of their employees.

With an ESOP, employees receive shares in the business at no cost and become part
owners of the business. Usually, the shares are held in trust and cashed out to employees
after they retire or leave the company. Owners can sell any amount of their stock
in the business and retain control of the business, according to PaCEO.

MCCC’s Baker Center of Excellence will be a catalyst for economic growth in Montgomery
County and the region and will assist employers and employees by providing educational
programs and resources in three main areas:

During this academic year, MCCC received its largest gift in its 56-year history of $3 million from Ken Baker, a longtime advocate of the College
and its mission, for the creation of the Baker Center of Excellence. Baker is a proponent
of ESOPs after converting NewAge in 2006 and seeing the positive benefits for both
employees and the company.

This press release was produced by the Montgomery County Community College. The views expressed here are the author’s own.