Amy Tardiff, VP and General Counsel at Augusta, Maine-based J.S. McCarthy Printers, explains why her parents chose an Employee Stock Ownership Plan (ESOP) as an exit strategy, rather than selling the commercial printing and packaging company to another printer or a private equity firm. Aside from its tax advantages, she says the ESOP boosted employee morale and helped secure workers' financial futures; provided continued employment for the four Tardiff children and other managers; and ensured that J.S. McCarthy remains a stable employer in its local community.
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