Minority Supplier Development Council’s Billion Dollar Impact Pays Off For Local Business

Jan. 3, 2013 - PRLog -- ST. LOUIS, MO.  – The St. Louis Minority Supplier Development Council (St. Louis MSDC) reached a milestone this month on the Billion Dollar Impact.  Halfway through the unique initiative, the Billion Dollar Impact has helped generate $600 million in new revenue for minority business enterprises (MBE). The Billion Dollar Impact has a goal to generate more than a billion dollars in additional MBE spending by July 2014.

“We are very excited about the success we have had with the Billion Dollar Impact,” said James Webb, President & CEO of the St. Louis Minority Supplier Development Council. “Only a year and a half into the program, and we are already exceeding our goals. We are on the right track to achieve and even exceed our initial goal by 2014.”

The Billion Dollar Impact Program is a unique program dedicated to building business partnerships between corporate and minority businesses in St. Louis.

Corporations and MBEs who have agreed to increase MBE spending as part of the Billion Dollar Impact include Ameren, The Boeing Company, State of MO, Nestle, St. Louis Cardinals, Monsanto Company, Washington University and World Wide Technology.

“The Billion Dollar Impact Program has provided local MBEs a way to really showcase what we can do,” said Sue Bhatia, CEO of Rose International Inc. “Corporations are able to tap local resources and find cost savings, while improving our city’s economy as a whole.”

The St. Louis MSDC will continue to work with both the public and private sector to develop additional contract opportunities throughout the St. Louis area.  By using minority vendors, corporations strengthen their business objectives while also benefiting the community.  

Businesses can still sign a pledge to participate in the Billion Dollar Impact, which is a bipartisan initiative. Forms are available at www.stlouismsdc.org (http://www.slmbc.org/portalV1.0.0.6/login/loginBillion.aspx) or by calling the St. Louis MSDC at (314) 241-1143.

About St. Louis MSDC:
The St. Louis Minority Supplier Development Council (MSDC) is one of 37 regional councils affiliated with the National Minority Supplier Development Council.  During St. Louis MSDC’s 39-year history, the organization has remained at the heart of the St. Louis region’s economic growth.  What started as a focus on partnering minority-owned businesses with area corporations has evolved into a long-term, strategic approach – one in which St. Louis MSDC provides ongoing growth opportunities, financial support, and training and education for its corporate members and Minority Business Enterprises (MBEs). Through these and other efforts, St. Louis MSDC’s partnerships with corporations and MBEs have become an integral part of the region’s economic stability and growth.