Press Statement

Press Release: New Report Details Co-Ops in Appalachia Could Be Key to Harnessing Potential of Investments in the Future Energy Economy

FOR IMMEDIATE RELEASE:

March 5, 2024

Contact: John Neurohr, [email protected], 717-364-6452

 
New Reports Details Co-Ops in Appalachia Could Be Key to Harnessing Potential of Investments in the Future Energy Economy

Appalachia — ReImagine Appalachia today released a new report, “Cooperatives in Appalachia’s New Energy Economy,” which details how cooperative – or “co-ops” – could be an important tool in creating jobs and anchoring businesses  in Appalachia while helping the region take full advantage of the transition to a new energy economy.

“Appalachia is a place of hard work, determination and resilience, but historically, wealth was siphoned out by absentee corporate owners ,” said report author Wendy Patton. “In response, our region helped spark the U.S local wealth creation movement after the economic collapse of the late 1970s and 1980s. We can use those tools now as companies reshore and new markets develop. Worker ownership and cooperative enterprises can help restore wealth and ground businesses in the community.”

Appalachia has a history of agricultural and electric cooperatives and is home to firms with worker ownership and participative management and/or networks of companies that share business services, like marketing or back office administration. The report looks at the current landscape of cooperatives, presenting analysis of their structure and the benefits for businesses, workers and communities. It highlights several  successful cooperatives currently operating in the four-state region.It  shows how research has found that worker cooperatives offer unique benefits in terms of sources of capital, customer relations and productivity.

“ReImagine Appalachia believes in the power and potential of cooperatives to rebuild local wealth,” said ReImagine Appalachia co-director Amanda Woodrum. “This report makes the case for the significant role that cooperative enterprises can play in revitalizing the Appalachian region. We see  cooperatives as a key component in the creation of a more inclusive and sustainable economy, benefiting local communities and the region as a whole.”

The report includes resources for co-ops, including a selection of trade associations and technical assistance programs in Appalachia for co-ops, a sampling of financing options for co-ops, and information about how state laws in Appalachia impact the creation and functioning of co-ops. 

“With the rapid development of the new energy economy, new sources of capital and technical assistance are available to support co-ops. We hope this report can be a starting point for existing and prospective co-ops to take advantage of those opportunities,” said Patton.

Read the report here.

View a recording of a webinar about the report here.

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