Owenstown Co-op has been established as a charitable business to undertake the economic and community development of the new town. The Co-operative model provides an excellent base from which to deliver the Owenstown project.
The corporate structure for Owenstown Co-op will be an Industrial & Provident Society based on charitable rules.
It will operate as a group structure with at least the following operating companies as subsidiaries:
- Owenstown Development Company will undertake trading activities with profits being covenanted to the Society
- Owenstown Management Company will manage and maintain all assets in its ownership such as homes for rent; bus company etc.
- Owenstown Energy Services Company (ESCo).
Owenstown Co-operative Limited will therefore be a developer, builder, manager and operator with all benefits ring-fenced for the new town.