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W W W. M A I N E B I Z . B I Z 3 O C T O B E R 2 0 , 2 0 2 5 I t is a true pleasure to recognize and celebrate the incredible momen- tum of employee ownership here in Maine. In just a few short years, we have seen a remarkable rise in busi- nesses choosing this forward-looking, employee empowering and wealth distributing model — and the results speak for themselves. Today, according to the National Center for Employee Ownership, more than 95 companies across our state have become employee-owned through Employee Stock Owner- ship Plans (ESOPs). Collectively, they employ over 10,000 Employee- Owners in more than 60 communi- ties. Perhaps most importantly, Maine ESOPs hold more than $1.9 billion in wealth on behalf of their owners. As a result, in the most recent year available, Maine ESOPs distributed more than $87 million in benefits (distributions) to plan participants. ese numbers tell an important story: employee ownership is not only grow- ing, it is reshaping the way we think about business, wealth-building, and economic vitality in Maine. e benefits of employee owner- ship extend well beyond the work- place. For employees, it transforms a job into a pathway for building financial security, sharing directly in the success they help create and tak- ing pride in ownership. is sense of shared purpose leads to greater commitment, higher productivity, and stronger job satisfaction. Again and again, we see employee-owners fueling innovation and excellence in their companies. For business owners, an ESOP presents a compelling option for suc- cession planning. It provides a way to preserve a company's legacy, support retirement goals, and reward the ded- icated employees who made the busi- ness thrive. is approach has proven especially valuable to family-owned companies, helping ensure their val- ues and community ties endure for future generations. Our communities also benefit greatly. Employee-owned businesses are more likely to remain locally based, offer steady jobs and reinvest in their hometowns. is stability strength- ens Maine's rural and urban econo- mies alike and helps secure a brighter future for the next generation. On a statewide level, employee ownership is playing an important role in narrowing the wealth gap. By plac- ing ownership in the hands of employ- ees, we are keeping both prosperity and decision-making power here in Maine rather than seeing them shift to out-of-state corporations. Looking ahead, I am optimis- tic about the continued expansion of employee ownership. It reflects Maine's core values — independence, hard work, and community — and offers a model for building a more resilient, equitable, and prosperous economy. I encourage business leaders to explore this path and for policymakers to champion its growth. Together, we are and have the opportunity to shape a stronger Maine through the power of employee ownership. Mark Adams President and CEO Sebago Technics — 100% employee-owned F RO M O U R PA RT N E R Dear Friends and Colleagues Mark Adams, passionate advocate for employee-ownership in Maine REACH OUT TO US AT CIRCULATION@MAINEBIZ.BIZ FOR A QUOTE We offer discounted group subscriptions starting at 5 users. Ensure your team has all access to Mainebiz Securities Disclosure: Securities offered through Valmark Securities, Inc. Member FINRA, SIPC. Investment Advisory Services offered through Valmark Advisers, Inc. a SEC Registered Investment Advisor. | 130 Springside Drive, Suite 300, Akron, OH 44333-2431 | Telephone: (800) 765-5201 | Lebel & Harriman, LLP and Lebel & Harriman Retirement Advisors are separate entities from Valmark Securities, Inc. and Valmark Advisers, Inc. Maine Fiduciary Experts Retirement Plans Financial Wellness Executive Benefits Insurance Succession Planning Employer Financial Services Retirement Planning Financial Planning Investment Management Insurance Legacy Planning Personal Financial Services P H O T O / T I M G R E E N WAY