The owners of a mid-sized manufacturing plant in a nearby small town were ready to retire, but no one in the next generation was interested in taking over.
The plant was sold to an out-of-state buyer with no local ties. The business was profitable, but the new owners chose to merge operations and close the local plant.
The story is familiar in small towns. Is there an alternative? I think so. Worker-owned co-ops and employee stock ownership plans could offer another path forward for these businesses.