Ward Lumber continues historic ownership move
Ward Lumber and its employees made history when the dealer became the largest worked-owned cooperative in New York’s Adirondack Region.
The company recently celebrated the move with a board cutting ceremony at its Jay, N.Y. location. Jay Ward remains as CEO to lead the newly formed cooperative through the new journey.
“We need to find ways to retain businesses on our main streets and rural areas. I feel that the worker-owned cooperative is a great business model that has the potential to help many businesses transition to the future. “said Jay Ward, CEO.
The lumber, building products, and hardware store dealer has over 50 employees and has been in the Ward family for four generations. Earlier this year, the company's made history by purchasing the 130-year-old business.
The successful conversion of Ward Lumber Company to a worker-owner cooperative was achieved through collaborative efforts between the Cooperative Development Institute, Adirondack North Country Association, SUNY Canton SBDC, and funding partners Cooperative Fund of New England, Capital Impact Partners, Empire State Development, and the U.S. Small Business Administration through their funding support for the New York SBDC program.
The event was attended by U.S. Senator Kirsten Gillibrand (D-NY) along with other regional officials.
A video about Ward Lumber’s ownership transformation can be viewed here.
Ward Lumber operates a second location in Malone, N.Y.
