Dohmen Constellations, a subsidiary of The Dohmen Company, has become the state’s first benefit corporation under recently passed legislation.
“For over a year we’ve championed legislative efforts to make this legal status available to companies in Wisconsin,” said Cynthia LaConte, CEO for The Dohmen Company. “Dohmen Constellations is reimagining business as a catalyst to build healthy communities, and our B-Corp status tells the world this isn’t a byproduct of our work, it’s the reason we exist.”
Benefit corporations are for-profit entities that work toward general public benefit, rather than profit alone. According to a release, legislation allowing this type of organizational structure was passed in November and goes into effect this week. Over 30 other states now have this designation.
Dohmen Constellations will invest in a portfolio of sustainable businesses that spread social good. The company will seek strong financial performances in the companies, but will also work toward greater economic equity in the Milwaukee community.