Boston, MA (PRWEB) September 17, 2011
The Greater New England Minority Supplier Development Council and Commonwealth of Massachusetts Announce the Opening of a Minority Business Development Agency Business Center in Boston
The Greater New England Minority Supplier Development Council (GNEMSDC) and the Commonwealth of Massachusetts, acting through its Office of Access and Opportunity (OAO) and Supplier Diversity Office (SDO), is pleased to announce the opening of a Minority Business Development Agency (MBDA) Minority Business Center in Boston. “The primary objective of MBDA Business Centers is to provide strategic business consulting services to minority firms that will result in increased public and private sector contracting opportunities and capital investments, ultimately leading to the creation of new U.S. jobs.” (MBDA)
The center will be housed in the offices of the Greater New England Minority Supplier Development Council and opened its doors on September 15, 2011. The GNEMSDC, OAO, and SDO have partnered to jointly achieve the procurement, employment, exporting and financing goals of the Center. The federal commitment to the project is $275,000 per year for the next five years.
The MBDA Business Center has three primary goals. First, the Center will work with minority business enterprises to identify procurement opportunities with large public and private sector organizations. The primary objective of this goal is to increase minority business enterprise vendor outcomes by over $100 million a year. Second, the Center will work to assist minority business enterprises identify and access sources of debt, equity and angel financing to accommodate their growth and success. Finally, through successful implementation of the aforementioned goals, minority business enterprises will achieve aggressive job creation goals.
To achieve these aggressive goals the Center will work with the federal government, the Commonwealth of MA, the State of Connecticut, the State of Rhode Island, other public entities and private companies from across the New England region to identify procurement opportunities. Some of the public and private partners include: the Massachusetts Small Business Development Center Network, the Massachusetts Growth Capital Corporation, the Massachusetts Office of International Trade and Investment (MOITI), Next Street Financial, the Business Consortium Fund, Tuck School of Business, Cathay Bank, the National Minority Supplier Development Council, Pitney Bowes Corporation, United Technologies Corporation, and Pfizer. Additional partners will be recruited and brought on to facilitate attainment of the goals and objectives of the Center. Finally, the Center will hire staff and utilize consultants, who have expertise in procurement, contracts, finance, information technology, marketing, and logistics, to provide assistance to the participating minority business enterprises.
"Minority-owned businesses are an integral part of local, national and global business communities," said MBDA National Director David Hinson. "The services they provide and the jobs they create generate trillions of dollars in economic output. By investing in our Business Centers, we are ensuring that minority-owned businesses get the direct assistance they need to be successful and vital contributors to the U.S. economy."
Fred McKinney, President and CEO of the GNEMSDC said,
“The Greater New England Minority Supplier Development Council (GNEMSDC) is excited to be the Project Operator for the MBDA Business Center. The Center will allow us to significantly grow minority businesses by assisting them with their financing needs and helping them identify large contract opportunities with public and private sector buying organizations. We have assembled an impressive array of organizations from the public and private sectors from throughout the region that will provide the support MBEs need to achieve the goals of the program. We believe that the Center will lead to MBE growth, greater employment and more economically vibrant and diverse communities.”
“The establishment of the Center represents a tremendous opportunity both to meet the technical assistance and capacity building needs of minority business enterprise and to assist them in achieving their business objectives,” said Ron Marlow, Assistant Secretary for Access and Opportunity.
The Greater New England Minority Supplier Development Council (GNEMSDC) is a non-profit membership organization with offices in Boston, MA and Hamden, CT. The GNEMSDC is the regional affiliate of the National Minority Supplier Development Council. The mission of the GNEMSDC is to significantly increase certified minority business procurement with corporate members. The GNEMSDC has 240 corporate members and over 400 certified MBEs.
The Office of Access and Opportunity is an office within the Executive Office for Administration and Finance. Its purpose is to promote non-discrimination and equal opportunity in all aspects of state government, including but not limited to, procurement activity, employment, and policy relative to state programs, services, and activities.
The Supplier Diversity Office is an office within the Operational Services Division, which is an agency within the Executive Office for Administration and Finance. The Supplier Diversity Office, formerly known as the State Office of Minority and Women Business Assistance is responsible for certifying minority, women and disadvantaged business enterprises, offering technical assistance services to certified businesses, and working to make such certified businesses of procurement opportunities with public agencies.
The Minority Business Development Agency (MBDA) is part of the U.S. Department of Commerce. MBDA is the only federal agency created specifically to foster the establishment and growth of minority-owned businesses in America. MBDA is an entrepreneurially focused organization committed to wealth creation in minority communities. To foster the growth and global competitiveness of U.S. businesses that are minority-owned. MBDA actively coordinates and leverages public and private-sector resources that facilitate strategic alliances in support of its mission. MBDA’s vision is economic prosperity for all American business enterprises.