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RALEIGH, N.C. -
A North Carolina senator who says there are few charitable pursuits better than creating a good job wants the state to establish a new type of corporation willing to take a low profit for the social good.
The House Commerce Committee on Wednesday plans to consider legislation creating the low-profit limited liability company. Backers say the corporate type could encourage charities to invest in struggling businesses.
Five states have established the same kind of legal entity. It's biggest North Carolina backer is Senator Jim Jacumin. The Burke County Republican says he hopes empty furniture and textile factories dotting the state could be refurbished and leased to entrepreneurs for new businesses.
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