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West said MBDA is involved
with every aspect of helping minority business from assessment
of needs, procurement of public or private contracts, recruiting
assistance, development serves, financing transactions, and
more. Eligible business must be owned or controlled by U.S.
citizens, resident aliens, African-American, Asian and Pacific
Islanders, Asian Indians, Hasidic Jews, Latino, or Native
Americans.
Last year MBDA created
more than 6,000 jobs nationwide generating $ 4 billion in
contracts and Hinson hopes the Cleveland center will be a strong
generator for the region.
Cleveland’s business
center’s operating expense for the first year will be covered by
a $225,000 federal grant with additional support from Greater
Cleveland Partnership and its small business partner,
Council of Smaller Enterprises (COSE).
The center will focus on
companies with a million dollar or more in annual revenues and
serve as a complement to the Minority Business Accelerator 2.5
+, a Commission on Economic Inclusion initiative focuses on
growing in size, scale and infrastructure of African-American,
and Latino-owned business enterprises.
Mayor Jackson said the
center will provide much needed support for minority owned
business and help fuel the job growth in the city and national
economy, “They [small business] hire locally and add to our tax
base,” said Jackson.
Cleveland’s Business
Center is a collaboration initiative operated by the Commission
on Economic Inclusion, COSE, JumpStart, Northeast Ohio Hispanic
Chamber of Commerce, Team NEO, Northern Ohio Minority Supplier
Development Council, and WECO Fund, Inc.
Steve Millard,
president of COSE, said the collaborative nature of MBDA is
critical for a region that already has a lot of resources
available that need to be brought together. Millard described
MBDA Cleveland Business Center as a clearinghouse that will
bring various fragments and resources together to connect and
help the minority communities. “Small businesses are the
backbone to our economy,” he said.
Congresswoman Fudge said
from a national perspective the collective buying power of
African-American, Latino, Native American, and Asians is $1.4
trillion, and as the communities continue to grow in population
their needs cannot be ignored. “Much of our economic growth
will come from immigrants and their children,” said Fudge.
She told Hinson he would
not be disappointed with potential performance of Cleveland’s
center; “ We are onto something here in Cleveland.”
White House Business
Council conducted a roundtable discussion at the Cleveland
center. Led by Hinson, Ohio minority business leaders were able
to provide feedback to the Obama Administration can support
their growth, create jobs and compete.
José Feliciano,
Chair of the Hispanic Roundtable, is hopeful MBDA will present
some opportunities for Latino-owned businesses to expand. |
