MINNEAPOLIS, June 24, 2025—The Minnesota Center for Employee Ownership (MNCEO) today announced the release of the 2025 Minnesota Employee-Owned Top 50, an updated, easy-to-navigate e-book highlighting 50 of the state’s most successful employee-owned companies. Now available in the Resources section of MNCEO’s redesigned website, the guide showcases the business impact and growing momentum of employee ownership across Minnesota.

Compiled in partnership with the Ohio Employee Ownership Center at Kent State University, the guide draws on recent IRS filings and other publicly available data to present a diverse lineup of companies that are thriving under Employee Stock Ownership Plans (ESOPs).

From manufacturers to professional services, these 50 businesses exemplify the real-world success of broad-based employee ownership—a business model that enhances retention, boosts productivity, and helps keep companies rooted in their communities.

“This guide is more than a list—it’s a powerful snapshot of how employee ownership is driving innovation, wealth-building, and long-term thinking in Minnesota,” said Kirsten Kennedy, executive director of MNCEO. “At a time when many business owners are considering their next chapter, this resource shows that selling to your employees is not only possible—it’s profitable.”

The 2025 Minnesota Employee-Owned Top 50 is designed for business owners considering succession, advisors helping clients transition, and anyone interested in learning more about how employee ownership works in practice.

Why Employee Ownership Matters

In Minnesota, thousands of baby boomers are reaching retirement age—and nearly 50% of the state’s small businesses are owned by someone over 55. Yet the majority have no succession plan.

“Too often, when a local business closes or is sold to an out-of-state buyer, the consequences ripple through the entire community,” Kennedy said. “Employee ownership provides a practical, proven alternative that keeps jobs and profits right here in Minnesota.”

Companies with Employee Stock Ownership Plans (ESOPs) often outperform their peers, with research indicating higher profitability, better job stability, and greater retirement savings for employees. Minnesota is already home to nationally recognized ESOPs—including many featured in the new e-book—and interest in employee ownership continues to grow.

MNCEO offers free, confidential resources to help business owners understand their options, including personalized support, case studies, a statewide professional advisor directory, and monthly webinars.

This guide can be downloaded here [2025 Minnesota Employee-Owned Top 50].

About the Minnesota Center for Employee Ownership

The Minnesota Center for Employee Ownership (MNCEO) is a 501(c)(3) nonprofit organization dedicated to providing free and unbiased information and resources to business owners and their advisors on the benefits of employee ownership throughout Minnesota.

Established in 2020, MNCEO is part of a national network of state centers for employee ownership created by the Employee Ownership Expansion Network, which is committed to closing the wealth gap for all employees. For more information, visit www.mnceo.org.

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Media Contact:

Lee Hayes

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651-261-4356

[email protected]