Thank you to Audra Ladd Director of Manufacturing Policy with the Urban Manufacturing Alliance, and Tomas Duran, President of Concerned Capital, for joining this week’s Monday call to describe their Tool for Equitable Acquisitions in Manufacturing (T.E.A.M) pilot project. Their work recognizes the upcoming wave of small and mid-sized manufacturers who are nearing retirement age and may lack succession plans to ensure the continuation of their businesses.
The joint project aspires to equip Community Development Financial Institutions (CDFIs) with the lending and technical assistance capacity needed to approach owners and suggest alternative pathways to sell their business to new owners who will continue to operate the business and, ideally, retain the value of the business in the region their located. Alternative pathways may include employee ownership, encouraging diverse ownership from community members, and more.
We look forward to learning what UMA and Concerned Capital discover through this pilot project, and what outcomes will result that may be replicated in other regions across the country. You can access Audra and Tomas’ slides here.
Thank you to Matt Zajac, Director of Operations and Strategic Engagement at the Chicago Quantum…