Starting on Jan. 2, Arizona businesses will be able to register as Benefit Corporations, meaning, as the old saying goes, they try to do well by doing good.
Arizona lawmakers approved the new classification last year. Courtney Klein, co-founder of the non-profit incubator Seed Spot, was one of the measure’s main proponents.
There are more than 20 states that have passed benefit corporation laws, including all of Arizona’s neighbors other than New Mexico. Klein said many investors now are looking for more than just financial returns.
Klein said she knows of around 10 companies that’ll be ready to go when the law becomes effective the day after New Year’s. One of them is Goodmans Interior Structures. Adam Goodman is the firm’s CEO, and its third-generation owner.
