WHAT IS A CO-OP


What is a Worker Co-op?

Cooperatives come in many shapes and sizes but, at root, are businesses formed by groups of people who voluntarily develop, jointly own and democratically control the enterprise to meet their common needs.

The Island Employee Cooperative is a worker-owned co-op. It exists to create good jobs for its worker-owners and to support the community where it operates.

In a worker co-op, the workers can own one share of the business, and only one share. Owning that share gives those workers certain rights in the corporation, like a vote to elect the board of directors, to approve a budget, and to set the strategic direction of the company. Being an owner also gives them an equitable share of the profits.

Worker cooperatives not only strive to provide meaningful, living wage jobs, they give the workers a say in how the company is run and broaden ownership of wealth by dividing profits equitably among the worker-owners.