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Kentucky’s ESOP Revolution | Lexington News
Kentucky’s business landscape is facing a major retirement wave—over half of small business owners are 55+, risking thousands of local companies shutting down or being sold out of state. But there’s hope: ESOPs, where employees become owners, are keeping businesses alive and thriving. Take TiER1 Performance Solutions in Covington—after going ESOP, revenue jumped 160%. Employees also save twice as much for retirement and face less layoff risk. With 105 ESOPs already employing 43K Kentuckians, advocates now push for a dedicated Director of Employee Ownership and a special loan fund to scale…
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