Hartford Business Journal

HARTFORDBUSINESS.COM | JULY 24, 2023 11 TOTAL PROJECT SIZE: 30,000 SF Building For Your Success EDGE FITNESS GLASTONBURY, CT For over 55 years, metal buildings have been a staple of PDS. For this project, we erected a new 30,000 square foot pre-engineered metal building to be used as a fitness facility for the Edge Fitness in Glastonbury CT. Standing 35' tall, this building was complete with brick veneer, CMU veneer, a mezzanine, elevator, curtain wall, storefront and more. With in-house disciplines of engineering from civil to mechanical, PDS can design the right building to fit your budget and timeline. SPOTLIGHT ON: COMMERCIAL 107 Old Windsor Road, Bloomfield, CT 06002 | 860.242.8586 | pdsec.com company to serve a broader array of stakeholders than just shareholders — but it self-reports its results and doesn't require B Lab's certification or evaluations. Benefit corporations can be certi- fied B Corps, but they don't have to be. Gorin said B Lab requires a certified B Corp to become a benefit corporation, if that legal designation is allowed in a company's home state. More than 30 states have autho- rized benefit corporations. Pros and cons Grace said B Corp certification lets like-minded companies connect with each other and collaborate on events and initiatives. There's also the public relations potential: a B Corp logo designation on a product can show consumers they're buying from a socially and environmentally respon- sible company, she said. "I think it's a great marketing angle for a business," Grace said. "If somebody is looking for organic food, or something sustainable, they might already know what a B Corp is, and when they see our logo it's just imme- diate recognition that this company is doing business with integrity." With about 10.8% of benefit corporations going the extra step to become certified B Corps, Grace called those companies "low-hanging fruit" when it comes to recruitment. But business owners have raised concerns about the long wait time for certification — sometimes up to a year or longer — and the complicated nature of assessments, which can be intimidating, said James "Jim" Zahansky, a prin- cipal and managing partner at Weiss, Hale & Zahansky Strategic Wealth Advisors. "When you try to obtain a B Corp certification it isn't easy — it's sort of a rigorous process," Zahansky said. "If the process wasn't as rigorous, and it wasn't as time-consuming, you probably would have more compa- nies considering this." Gorin and Grace acknowledged B Corp certification can be daunting, which is part of the reason B Local Connecticut and consulting firms like Impact Growth Partners exist. "It's super complex, there are a lot of gray areas, data and documenta- tion that's required to get verified," Gorin said. Hancock, the business attorney, said it's just not worth it for many companies to convert to a benefit corporation. For-profit companies can form not-for-profit entities or charities to fulfill their social goals, she said, and those contributions can come with tax deductions. Connecticut's benefit corporation law doesn't offer tax incentives to companies that choose the legal framework. Further, she said companies can adhere to B Corp standards and Connecticut certified B Corps There are 26 companies in Connecticut that have been certified as B Corps by the nonprofit B Lab. • Aloha • Grace Farms Foods, LLC • Armonia LLC • Grounded World • Atheava Ayurveda • HAYVN • Athletic Brewing Company • Hugo & Hoby • Bigelow Tea • Ideal Fish • Blue Earth Compost, Inc. • Impact Growth Partners • C.E. Floyd Company, PBC • Kane Footwear LLC • Chabaso Bakery • Monica Rich Kosann • Downsize Managers • Publish Your Purpose • Earth Animal Ventures • Simpson Healthcare • Envest Asset Management, LLC • Saffron Road Foods • FoundHer, LLC • Uncommon Good • GoodSam Foods • Westport Family Dental Source: B Local Connecticut James Zahansky "self-certify" without going through the assessment process, though they won't get the official designation. A 2018 report by the state Office of Legislative Research suggested the state could adopt financial incentives and statewide marketing efforts to boost interest in benefit corporations. It noted that the city of Philadelphia has a sustainable business tax credit for companies that are certified B Corps. It provides up to a $4,000 credit against the city's business income and receipts tax. For now, B Local Connecticut will continue to pitch the value of B Corp certification to entrepreneurs, its founders say. The organization held a networking event at Athletic Brewing in June, and is planning an event in November with another partner. "It's about exposure and really finding opportunities where we can get in front of other business orga- nizations," Grace said. "There are a lot of people who really care about what's happening to the environment and who really care about social justice. … I think it's just a lack of local awareness."

• Cover