ChicagoMSDC Announces $3 Million Grant From MBDA To Boost Minority Business To Make Jobs In Chicago

June 13, 2011 - PRLog -- CHICAGOMSDC


                                                                                                            Contact: Milana Walter
                                                                                                             (312) 755-2553
                                                                                                             mwalter@chicagomsdc.org


CHICAGOMSDC  TO OPERATE $3 MILLION GRANT FROM THE U.S. DEPARTMENT OF COMMERCE’S MINORITY BUSINESS DEVELOPMENT AGENCY (MBDA) FOR THE MBDA BUSINESS CENTER –CHICAGO IN PARTNERSHIP WITH ILLINOIS HISPANIC CHAMBER OF COMMERCE

CHICAGO, IL, – The Chicago Minority Supplier Development Council (ChicagoMSDC) announced an unprecedented grant of $3 million to operate the
MBDA Business Center – Chicago in partnership with Illinois Hispanic Chamber of Commerce.

This announcement was made at the Open House, June 7, 2011 at the offices of ChicagoMSDC and MBDA Business Center – Chicago located in the heart of Chicago’s financial district.  

This was a nationally competitive award with Chicago being granted more than any other city because of its’ track record of reaching results beyond expectations in the past, assisting over 1,100 Minority Business Enterprises (MBE’s) in obtaining $1.2 Billion in contracts, $562 Million in financing which helped to create over 1,700 jobs.

“In times of a lingering economic downturn ChicagoMSDC is proud to be able to contribute to the efforts of Mayor Rahm Emmanuel to bring jobs, commerce and global focus to the great city of Chicago,” said ChicagoMSDC President & CEO Shelia Hill
Morgan. “over this 5 year grant period, we will be able to leverage $3 Million into
over $600 Million with strategy, expertise and resources.”

Alex Doñé is the Associate Director for Business Development of Minority Business Development Agency (MBDA) at the U.S. Department of Commerce in Washington, D.C. In FY 2010, MBDA assisted minority businesses in securing nearly $4 billion in financings which in turn led these minority businesses to create more than 6,300 jobs.
“Minority businesses have contributed $1 Trillion in economic input and employ 6
Million Americans,” said Alex Doñé

Eric Dobyne is the Chicago Regional Director of the U.S. Department of Commerce, MBDA.He founded the Annual Minority Investment Management Forum (MIMF) which has resulted in over $1 billion in investment for minority asset managers and has been introduced to other urban cities in the Midwest. “I am proud that the minority leadership in this room was insightful enough to collaborate,” said Eric Dobyne.

Omar Duque is the President & CEO of the Illinois Hispanic Chamber of Commerce (IHCC), the leading Hispanic business, networking, advocacy and development organization in Illinois. “Small businesses are the engines that will drive our economy,” said Omar Duque.

Hans Bonner is the Executive Director of the MBDA Business Center – Chicago operated by ChicagoMSDC in partnership with IHCC and funded by U. S. Department of Commerce, MBDA.
“This program allows us 5 years to positively impact Chicago by boosting minority business by leveraging and creating contracts, procurement and financial transactions which create new jobs and retain existing ones,” said Hans Bonner.


About ChicagoMSDC (Chicago Minority Supplier Development Council:
ChicagoMSDC is a thought leader in minority business since 1968. Its mission is to be the premier organization for increasing value-added business opportunities between major buying organizations and minority-owned businesses. ChicagoMSDC is the founding Council of NMSDC, a network of 37 regional councils. For over four decades, serving both minority suppliers and corporate buyers, ChicagoMSDC has been Chicago’s central network where trading partners have been able to meet and develop sustainable business linkages. Today, the ChicagoMSDC partnership includes over 200 private and public sector buying organizations and more than 1000 minority-owned businesses.
Corporate members of ChicagoMSDC have reported over $3.5 billion in annual purchases from minority firms. MBE (Minority Business Enterprise) members have reported the employment of more than 20,000 workers annually.

For more information about CHICAGOMSDC and/or MBDA BUSINESS CENTER - CHICAGO, call 312-755-8880 or visit the web sites at: www.chicagomsdc.org and www.mbda.gov/businesscenter/chicago.