An Open Letter to NM Governor Susana Martinez
Governor Susana Martinez,
I am writing you today in support of HB40, also known as the Benefit Corporation bill. As a business recently transplanted to New Mexico, I can share my personal experience as to the value of this for NM. It will create jobs, retain people and bring in new talent to a state that needs it. You have likely seen the data that NM experienced a large percentage of exits in the last year. Luckily, as our state has small population, that number is low. Efforts such as this will make a significant difference to commercial climate in this state and support the companies and organizations that I know and with which I work.
Social Enterprise Associates (www.socialenterprise.net) has been in this state for 5 years. We are a niche market management consulting firm specialization in the ‘triple bottom line' - the intersection of using market based efforts that also support community and the environment, what is called ‘people, profit and place.' For example, this week we have helped a group of mid-wives in Espanola to establish a birth center, helped the Espanola Community Market increase its financial viability to sell food to people in its community, and raised investment for a NY based fish distributor who specializes in sustainably caught fish to bring a valuable, desired product to NM. We employ 5 people and, through our work, bring business to a number of other entities like printers, design companies and so forth.
We were recognized in 2011 as a Small Business that was ‘One of the Best for the World' Award, and in 2012 as a NM Sustainable Business of the Year Honoree. This legislation will enable our company to be recognized and classified for the work that we do. It will enable us to raise investment for ourselves and the companies and organizations we work with. Socially responsible business is here to stay. It is not a fad. Impact investing / community investing is the fastest growing segment of the capital marketplace with billions of dollars coming in each year. This legislation will enable NM entities to better compete and secure this money, which promotes a virtuous cycle leading to more of these companies and jobs.
This legislation is a good fit to the people and trends of NM. Many new comers to our state are senior or looking for lifestyle oriented opportunities. They are values based. They care about their community. This legislation, which will not cost anything is a bipartisan win-win for New Mexico with no downsides. It is completely optional. An option my company and many others will take to improve NM.
I urge you to sign HB40 for the good of New Mexico
Thank you for your consideration.
Andrew (Drew) Tulchin | Managing Partner
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