TOP STORY: Can business do good, too?

We've got some big news. Yesterday the Governor signed House Bill 2296 into law, creating a new Oregon business option called "benefit corporations."

Ok, so what's a benefit corporation?

It's a new way to organize those for-profit companies that also create a public good. So, in addition to making a profit, a benefit corporation might also be designed to improve the environment, educate young people, reduce energy consumption... anything that contributes to the public's benefit.

I championed this bill, together with my co-chief sponsor, Representative Jules Bailey and Secretary of State Kate Brown, because it will help attract socially conscious entrepreneurs to Oregon.

Oregon's reputation as a place with good work/life balance, with a well-protected and accessible environment, and a robust social dynamic is attracting so many young people - and empowering them to create companies that are both profitable and public-oriented will serve Oregon well.

The benefit corporation structure allows entrepreneurs to bring their values to work. By giving corporations the option to add a values driven mission to the profit motive, business owners can create and grow socially responsible businesses that also help solve problems facing our communities.

I'm excited to see what new business ventures hatch from this benefit corporations program. What would you do, if you could?

We've heard from companies that are already operating as benefit corporations - Bamboo Sushi, Metropolitan Group - and from a constituent who wants to change her company, Independence Gardens, to a benefit corporation.

I'd like to hear from you - what socially responsible business would you like to start? Are there any businesses you frequent because of their socially responsible approach? Add your ideas to the growing conversation.

I look forward to hearing from you.

Best,

P.S. Want to learn more? OPB's Cassandra Profita did a story about Benefit Corporations in Oregon.