View source for Worker Cooperative Business Development Initiative in New York


Policy at http://council.nyc.gov/budget/wp-content/uploads/sites/54/2014/07/fy2015-FY15-ScheduleC-Template-Final.pdf

=Description=

By Darren Sharp

"The financial crisis of 2007-08 saw the substantial loss of full-time and living-wage jobs in
many cities, including New York, with most newly created jobs being low-wage and parttime.

In fiscal year 2015, the New York City Department of Small Business Services (SBS)
launched the Worker Cooperative Business Development Initiative (WCBDI) as a way to
reduce poverty and income inequality through support of worker-owned cooperatives.

The city council included funding in its $75 billion fiscal year 2015 budget '''to support the expansion of worker cooperatives throughout the city''' to help low-income New Yorkers become business owners. The council allocated $1.2 million in municipal investment
through WCBDI across 10 partner organizations to support existing worker cooperatives,
kick-start the creation of new worker cooperatives, and assist small businesses conversion
to worker-owned models.

WCBDI has led to the creation of 21 new worker cooperatives, doubling their number in
New York City, and has built the capacity of existing cooperatives through education,
training, technical assistance, and funds. It is estimated that over 141 new worker-owner
jobs have been created and over 900 entrepreneurs have received training in co-op
development. This initial success encouraged the New York City Council to increase the
initiative’s funding to $2.1 million for fiscal year 2016."
(http://www.shareable.net/sites/default/files/SharingCities_FullBooktoPDF_v2%281%29.pdf)

=More information=

* WCBDI’s 2015 report on their first year of operation, including the major impacts:
http://www.nyc.gov/html/sbs/downloads/misc/wcbdi2015-booklet/offline/wcbdi.pdf

* Related change in New York’s administrative code to support the effort:
http://legistar.council.nyc.gov/LegislationDetail.aspx?ID=1853950&GUID=917F9D68-
6081-4BE0-BABA-B9910461817F

* Report that influenced advocacy for worker cooperatives in New York City:
http://institute.coop/sites/default/files/resources/432-Worker-Cooperatives-for-New-YorkCity-A-Vision-for-Addressing-Income-Inequality-FPWF-January2013.pdf

[[Category:Cooperatives]]

[[Category:Policy]]

[[Category:Commons Policy]]

[[Category:Urban Commons]]

[[Category:Urbanism]]