Gillibrand announces bill to aid employee-owned businesses

SARANAC LAKE | U.S. Sen. Kirsten Gillibrand (D-NY) is proposing legislation
to make it easier for small businesses to craft employee-owned stock
ownership plans, or ESOPs, a measure the lawmaker says will stave off
possible disruptions in local economies as older business owners begin to
transition out of the labor force.

Adirondack North Country Association (ANCA) Executive Director Kate Fish
said as Baby Boomers in the North Country are looking to retire, the lack
of a concrete transition plans may negatively impact the local economy.