Arriving in the nation\'s capital in the mid-90s, Gina Schaefer found herself drawn to Logan Circle, a neighborhood that had been scarred by the riots following Martin Luther King Jr.’s assassination. Inspired by the community\'s resilience and potential, Gina embarked on a mission to fill a void in the neighborhood, starting with the establishment of her first Ace Hardware store. Gina\'s vision always extended far beyond commerce. Recognizing the importance of community involvement, she actively engaged with local residents and organizations to understand their needs and aspirations. She made it a priority to hire individuals from the local community, including those facing barriers to employment, such as former inmates and individuals in recovery. 

Recently, Gina initiated an Employee Stock Ownership Program (ESOP) to gradually transfer ownership of their business to their employees. This transition not only empowers workers but also gives them agency over their own lives and financial futures.

Related Resources:

• Building a Business in Non-traditional Ways with Gina Schaefer
• Building Communities & Instilling Culture on the Chief Influencer
• Employee Stock Ownership Plan (ESOP): What It Is, How It Works, Advantages
• The ESOP Association
• Recovery Hardware: A Nuts and Bolts Story About Building a Business, Restoring a Community, and Renovating Lives by Gina Schaefer
• Small Giants: Companies That Choose to Be Great Instead of Big by Bo Burlingham

See the full transcript at ilsr.org.