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Indiana Treasurer of State

Treasurer > Indiana's ESOP Initiative (IEI) Indiana's ESOP Initiative

Executive Summary

Indiana’s ESOP Initiative (IEI) was created in 2007 by State Treasurer Richard Mourdock to promote and encourage the formation of new Employee Stock Ownership Plan  (ESOP) companies in Indiana.  

ESOPs have a clear track record of creating wealth, encouraging entrepreneurial attitudes, and increasing productivity. The key to retaining Indiana jobs is to continually increase productivity. As Treasurer Mourdock has often said, “One of the best reasons to help Indiana companies become employee-owned is that no one group of employee-owners have ever, ever, ever, ever moved their company to Mexico or China!”

In order for the IEI to achieve its goals, Treasurer Mourdock is providing a $50 million investment  through a “linked-deposit” program helping to assist Indiana banks in funding ESOP transactions.

Treasurer Mourdock has also announced that Credit Suisse, who manages the $155 million Indiana Investment Fund on behalf of Indiana’s Public Employees’ Retirement Fund & Indiana Teacher’s Retirement Fund targeted for investment in Indiana, will consider on a case by case basis the purchasing of equity in Indiana companies for the purpose of completing an ESOP transaction.   

In addition, Treasurer Mourdock has assembled an “ESOP toolbox” of resources and information for business owners and employees to learn more about ESOPs and professional organizations who can assist with their creation. The ESOP toolbox will continually be updated with new information as it becomes available.