Boise's Drake Cooper Becomes 100% Employee-Owned

BOISE, Idaho (CBS2) — Drake Cooper, one of Idaho’s oldest advertising agencies, has just become 100 percent owned by its employees.

Earlier in December, CEO Jamie Cooper transferred complete ownership of the company to the employees, creating a full year of stock accumulation for 2020.

“Since 1978 when Bill Drake founded the agency, we've always believed our people are the key to our clients' success and therefore to our agency’s success and longevity,” Cooper said. “This new chapter is an extension of who this agency has always been and the values we've always tried to uphold. I am very excited for our new employee-owners and this journey we will all take together.”

After 15 years, Cooper is focused on planning for its future while recognizing the economic dynamics across the country.

“Anyone paying attention should be worried about the middle class in our country. While one company's impact on this issue may be limited, establishing an ownership path for employees is a step in the right direction," Cooper said. "As employees search for passion and purpose in the 21st century, I hope we see more organizations explore this possibility.”

In Idaho, there are only 42 privately-held ESOP companies and Drake Cooper just joined the handful that are 100% employee owned.

The most well-known is the nation’s third-largest ESOP, WinCo Foods, with 20,000 employee-owners. About three percent of marketing and advertising firms nationwide are employee owned.

As seen in Idaho News