BUILDING A STRONGER FUTURE
THROUGH EMPLOYEE OWNERSHIP
Illinois' Leading Resource for Employee Ownership Solutions
At the Illinois Center for Employee Ownership (ILCEO), we help business owners turn transitions into legacies. As the state’s trusted hub for employee ownership, ILCEO provides expert guidance on Employee Stock Ownership Plans (ESOPs), Worker Cooperatives, and Employee Ownership Trusts (EOTs).
With thousands of Illinois businesses facing succession decisions in the coming years, employee ownership offers a powerful way to preserve jobs, strengthen communities, and build generational wealth. Whether you're planning your exit, exploring growth strategies, or simply curious about your options, ILCEO connects you with the knowledge, tools, and experts to take the next step.
Secure your company’s future. Empower your employees. Keep your legacy local.
Why Employee Ownership?
Ownership - Commitment - Success
Stronger businesses through shared investment.
Employee ownership creates a culture where everyone is invested in the outcome. When employees share in the success of the business, they’re more engaged, accountable, and motivated to help it grow.
Companies with employee ownership often see:
-Lower turnover
-Higher productivity
-Stronger workplace culture
It’s a model that works—for business owners, employees, and the communities they serve.
Learn more about
Employee Ownership Business Models
Our Mission
ILCEO exists to help more Illinois businesses become employee-owned—and stay local.
The Illinois Center for Employee Ownership (ILCEO) is a nonprofit organization dedicated to educating business owners, employees, and communities about the benefits of employee ownership as a tool for business succession, economic development, and wealth creation. Our mission is to scale employee ownership to help grow a more equitable economy, build community wealth, empower workers, and foster strong, resilient local economies.
Our goal is to ensure that more Illinois businesses remain locally rooted, more workers gain access to ownership and wealth, and more communities can preserve jobs and small business legacies through the proven model of employee ownership.
Our Impact
Empowering Workers. Preserving Legacies. Building Wealth.
As part of the 24-state Employee Ownership Expansion Network (EOX), the Illinois Center for Employee Ownership (ILCEO) was founded to meet the specific needs of Illinois’s diverse business landscape.
We work across the state to support transitions to employee ownership—providing education, resources, and hands-on guidance for Employee Stock Ownership Plans (ESOPs), worker cooperatives, and Employee Ownership Trusts (EOTs). Through technical assistance, strategic partnerships, and advocacy, ILCEO is helping to preserve jobs, retain local businesses, and build wealth where it matters most—in the hands of workers and communities.
Measuring the Movement
Employee Ownership by the Numbers
295+
ESOP
COMPANIES IN
ILLINOIS
30+
WORKER COOPERATIVES
IN ILLINOIS
14+
BILLION
WEALTH
CREATED
70K+
EO
OWNERS
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Discover how employee ownership is transforming Illinois businesses, strengthening communities, and building lasting wealth for workers.
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"Since adopting an Employee Stock Ownership Plan (ESOP) in 2001, our company has reaped significant benefits from transitioning to an employee-owned structure. This model has been transformative, driving wealth creation and ensuring long-term financial security for our employees. Over the past 24 years, the ESOP framework has been a key driver of our sustained growth and success by aligning our workforce’s interests with the company’s strategic goals.
For organizations exploring employee ownership, we highly recommend thoroughly assessing the ESOP model. Our experience highlights its potential as a powerful strategy for achieving long-term success."
-George Pfeiffer
C.E.O.
BOS Holdings
"Since adopting an Employee Stock Ownership Plan (ESOP) in 2001, our company has reaped significant benefits from transitioning to an employee-owned structure. This model has been transformative, driving wealth creation and ensuring long-term financial security for our employees. Over the past 24 years, the ESOP framework has been a key driver of our sustained growth and success by aligning our workforce’s interests with the company’s strategic goals.
For organizations exploring employee ownership, we highly recommend thoroughly assessing the ESOP model. Our experience highlights its potential as a powerful strategy for achieving long-term success."
-George Pfeiffer
C.E.O.
BOS Holdings
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Illinois Center for Employee Ownership