Published on Wednesday, April 29, 2026
PROVIDENCE, RI – Following the Rhode Island Senate Committee on Labor & Gaming's vote to advance out of committee her legislation to create a Rhode Island Center for Employee Ownership, Lieutenant Governor Sabina Matos today issued a statement:
“I am grateful to the committee members for taking swift action to support this targeted, meaningful investment in our state’s small business community. By creating a Center for Employee Ownership, we can keep open the doors of our beloved small businesses and ensure that the stores and restaurants that define our communities remain locally owned and operated. I thank Majority Leader Ciccone and Senator DiPalma for sponsoring this bill and I look forward to continuing to advocate for passing this important policy.”
S 2922 and its House companion, H 7570, would create a Rhode Island Center for Employee Ownership (RICEO). The RICEO would provide technical support to business owners transitioning to employee ownership, to employees seeking to buy an existing business, and to new enterprises considering a worker-ownership model. Over 20 other states, including Massachusetts and Connecticut, have Centers for Employee Ownership.
S 2922 is supported by local employee-owned businesses like Avid Technologies, by local grassroots organizations like the Rhode Island Worker Cooperative Alliance, and by business groups such as the Rhode Island Manufacturers Association.
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