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St. Louis Minority Business Council Logo

St. Louis Minority Business Council, Chicago Minority Supplier Development Council and Minority B

$900,000 MBDA Grant Will Leverage Opportunities for Minority Businesses Across the St. Louis Region in Job Creation, Access to Capital and Contracts

 
 
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PRLog - Nov. 26, 2013 - ST. LOUIS, Mo.  – The St. Louis Minority Business Council (SLMBC), the Chicago Minority Supplier Development Council and Minority Business Development Agency (MBDA) today formally announced a new strategic partnership to operate a St. Louis MBDA Business Center.  The Center will focus on growing Minority Business Enterprises (MBEs) in the St. Louis area, regionally, nationally and globally. This exciting new development will put the focus squarely on minority businesses in St. Louis by advancing relationships between MBEs and corporations to help St. Louis MBEs compete on a global scale.

“This strategic partnership is a great opportunity for St. Louis,” said Mayor Francis Slay. “We have two organizations both devoted to furthering and expanding business reach in our region. This partnership will allow both parties to help each other with economic advancement in and around the St. Louis region.”

The Chicago Minority Supplier Development Council received the $900,000 grant to operate the MBDA Business Center in St. Louis at the St. Louis Minority Business Council over the course of three years.  The MBDA is tasked with assisting minority entrepreneurs and business owners with consulting services, contract and financing opportunities, bonding services, building business-to-business alliances and executive training. It is the only federal agency created specifically to foster full participation of MBEs in the national economy.

“MBDA is committed to the continued success of all minority-owned firms, who strengthen the economy and create American jobs,” said David A. Hinson, MBDA National Director. “This new center in St. Louis will expand the number of front-line business experts we have providing strategic consulting services to minority-owned businesses to help grow both the local and the U.S. economy”

St. Louis was one of six cities selected to receive grant monies designed to boost job creation and the global competitiveness of minority-owned businesses nationwide.

“Our goals with this grant are to create and retain jobs, and award contracts to St. Louis-based minority businesses,” said Shelia Morgan, President and CEO of Chicago MSDC. “We knew St. Louis would be a great city for the grant because of the tremendous opportunities in the marketplace and our partnership with SLMBC.”

The partnership will help continually develop programs in place across the region, while creating new opportunities for expanded growth.

“Partnering with the Chicago MSDC helps us to grow the reach of MBEs in St. Louis faster and create more jobs to help our region prosper, while expanding various programs,” said James Webb, President and CEO of SLMBC. “These programs include our exclusive Billion Dollar Impact, a groundbreaking program which aims to connect MBEs to corporations in St. Louis to generate more than a billion dollars in additional MBE spending by July 2014.”

About St. Louis Minority Business Council

During the SLMBC’s 40-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 SLMBC 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 MBC’s partnerships with corporations and MBEs have become an integral part of the region’s economic stability and growth.

About Chicago MSDC

The Chicago MSDC [www.chicagoMSDC.org] is a premier organization for increasing business opportunities between major buying organizations and minority-owned businesses. Chicago MSDC partnerships include over 250 private and public sector buying organizations and more than 1,100 minority businesses. Buying members report over $5.5 billion in annual purchases from minority owned firms. Minority enterprise members report employment of more than 98,000 workers annually.

About MBDA

MBDA [www.mbda.gov] is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority-owned businesses. Their programs and services better equip minority-owned firms to create jobs, build scale and capacity, increase revenues and expand regionally, nationally and internationally. Services are provided through a national network of MBDA Business Centers.

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Source:St. Louis Minority Business Council
Industry:Business
Tags:st louis, minority business
Shortcut:prlog.org/12248098
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