Derek Green

City Councilmember

Philadelphia, PA

From the beginning of my term, I have been working to find ways to promote employee ownership as a wealth expanding, business preserving economic development tool. Encompassing both employee stock ownership plan (ESOP) model or more conventional forms of worker cooperatives, this strategy will preserve job opportunities for Philadelphians of all backgrounds and expand income generation, while realizing value for outgoing owners. I secured funding from the City to promote a worker ownership pipeline, which has been reinforced by Philadelphia’s participation in a yearlong NLC/DAWI sustainable equitable economic development fellowship, which will focus on outreach in three of our commercial corridors. This strategy dovetails with ongoing work to build the Philadelphia Business Lending Network, the one-stop, short-form initial application to over thirty small business lenders and CDFIs.