NJEDA Releases RFI for Statewide Employee Ownership Program Initiative

On Apr 1, 2024

The New Jersey Economic Development Authority (NJEDA) today issued a Request for Information (RFI) seeking insight from firms and individuals with perspectives on the proven best practices, potential challenges and appropriate considerations relevant to the development of a Statewide Employee Ownership program. The information gathered through this RFI will help NJEDA better understand the scope and characteristics of a potential employee ownership program and engage interested parties, potential consultant, and eligible businesses in the establishment and success of the potential program.

The NJEDA is interested in receiving information that will help it better understand the scope and characteristics of Employee Ownership – highlighted as a potential Wealth Disparity Initiative by the governor’s Wealth Disparity Task Force – in anticipation of the development of a Statewide Employee Ownership Program. The creation of such a program will aim to engage interested parties, potential consultants, and eligible businesses in the establishment and success of an employee ownership model with the support of the Authority.

The RFI seeks responses from all interested stakeholders including but not limited to New Jersey-based businesses of any size and industry; Employee-Owned entities located within the United States; Employee Stock Ownership Plan (ESOP) technical assistance providers; Chambers of Commerce and other business advocacy organizations; business and entrepreneurship support organizations; Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs); policy and academic researchers; foundations and philanthropic initiatives that support Employee Ownership and/or work to address socioeconomic disparities; any other individual or entity who has perspectives or experiences relevant to this Request for Information.

Respondents do not need to be located within New Jersey to provide input.

All questions must be submitted in writing no later than 5:00 p.m. on April 8 via e-mail to [email protected]. The subject line of the e-mail should read: “QUESTIONS-2024 RFI-199 Development of a Statewide Employee Ownership Program”. Answers to questions submitted will be posted on the NJEDA’s website: Bidding Opportunities – NJEDA as Addendum.

All RFI responses must be submitted in writing no later than 5:00 p.m. on April 15 via e-mail to [email protected]. The subject line of the e-mail should state: “RFI Response-2024-RFI-199 Development of a Statewide Employee Ownership Program”.

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