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Board amends network matching grant rules to cover employee‑ownership technical assistance
Summary
The board approved an amendment to the network matching grant rules to permit funds for applicants offering technical assistance to small businesses transitioning to employee ownership, including worker cooperatives and employee buy‑back plans; a member recused on the vote.
The board approved an amendment to the network matching grant program rules to align the rules with a recent statutory change and to make matching funds available for organizations that provide technical assistance to small businesses transitioning to employee ownership models.
Christina Brown told the board the amendment updates program definitions so that “employee ownership” includes businesses incorporated as worker cooperatives or those offering employee buy‑back ownership plans. Board members asked about the definition of targeted industries and whether manufacturers are included; staff explained the network matching grant is for targeted industries identified in the state comprehensive economic development strategy and that manufacturing firms may access separate manufacturing vouchers if they meet specific criteria. The board approved the amendment; one member recused from the vote.
