New Legislation Champions the Value of Social Enterprise
Submitted by: Greyston Bakery
Posted: Feb 16, 2012 – 02:00 PM EST
YONKERS, N.Y., Feb. 16 /CSRwire/ - On February 10th, Greyston Bakery became the first social enterprise to register as a Benefit Corporation in the State of New York. New York joins six other pioneering states that have passed the ‘benefit corporation’ legislation, which allows companies to demonstrate higher standards of corporate purpose, accountability, and transparency through this new corporate designation. “Benefit Corporations are using the power of business to solve social and environmental issues and it is our goal at Greyston to set an example for other social enterprises as we embrace our new corporate status," says Greyston Bakery CEO, Mike Brady.
This legislation reinforces the fact that Greyston is no ordinary bakery. Founded in 1982, Greyston Bakery currently employs more than 50 economically disadvantaged residents through an open hiring policy that offers the opportunity for real economic stability through training, fair wages, and benefits. All of the Bakery’s profits support the Greyston Foundation, which provides affordable housing, childcare, health services and workforce development to hundreds of people in the community. “All companies that registered to become benefit corporations are making history by recognizing the power of business to solve social and environmental issues," says Greyston Foundation President, Steven Brown.
About Greyston Bakery:
Founded in 1982 in Yonkers, Greyston Bakery produces quality baked goods, brownie mix-ins for Ben & Jerry’s® Ice Cream, along with other premium desserts. The Bakery is a force for self-transformation and community renewal by offering on-site training fair wages and benefits to more than 50 local residents, regardless of their work history for the past 30 years. Greyston Bakery’s profits support the Greyston Foundation’s community development initiatives, including low-income housing, childcare, health services, community gardens and workforce development.