Limited co-op associations debut in Spokane
In 2019, Washington state passed legislation creating Limited Cooperative Associations (LCAs), which are holding companies that offer a new pathway for investment into worker- and community-owned businesses. LCAs act as a mini-mutual funds, where one check can be invested in a diversified business portfolio. In addition, one-third of an LCAs governing board must be a worker-owner of the entity. Our lead article discusses the Spokane Workers Cooperative, which includes 38 worker-owners across five companies: a brewery, a bakery, a media, an advertising agency, a podcast operation, and a local media company. To date, this LCA has attracted $711,000 in outside investment.
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