The U.S. Department of Commerce Minority Business Development Agency (MBDA) named Georgia Tech Research Corp. as a grant recipient to continue to operate an MBDA Business Center in Atlanta.
The federal funding will be distributed during a five-year period that ends in 2021. The funding amount per year is $298,255 for a total of $1.49 million.
The grant program is designed to help minority-owned firms across the nation create jobs, develop their business, and compete in the global economy.
“We are extremely pleased and honored the U.S. Department of Commerce has renewed our funding for another five-year term,” said Donna Ennis, director of the MBDA Business Center-Atlanta. “Our team has been busy working with businesses across Georgia and the Southeast helping to build not only the strength of minority-owned businesses, but the state’s and region’s economy as a whole.”
A key component of MBDA’s Business Center Network is providing minority firms with access to technical expertise and resources to grow their businesses.
In the five-year period ending in 2015, MBDA Business Center-Atlanta helped 462 minority-owned businesses:
- secure more than $577 million in contracts and procurement
- access $177 million in capital
- create or save 4,987 jobs
Ennis leads the MBDA Advanced Manufacturing Working Group, which is building a nationwide community of Minority Business Enterprise (MBE) manufacturers through its national network of 44 MBDA Business Centers. As part of that initiative, she launched the Connecting Advanced Manufacturing Program (CAMP) focused on providing contracting opportunities; assistance with launching new technologies, and building a nationwide ecosystem of MBE manufacturers. That led to the National MBE Manufacturers Summit2016 at Georgia Tech this past March 24.
According to the U.S. Census Bureau’s 2012 Survey of Business Owners, minority-owned firms in the United States increased to 8 million in 2012 from 5.8 million in 2007. Those 8 million businesses employed 7.2 million Americans.
In Georgia, there are 371,588 minority-owned firms that contribute more than $38.4 billion annually in economic output. These firms employ more than 202,000 Georgians. Since 2009, MBDA Business Centers have assisted minority firms with gaining access to more than $31 billion in capital and contracts, while creating and retaining nearly 142,000 jobs.
About the MBDA Business Center-Atlanta
Established in 2004 and part of the Georgia Institute of Technology, the MBDA Business Center-Atlanta is a member of the national network of the U.S. Department of Commerce Minority Business Development Agency. The MBDA Business Center-Atlanta provides business and technical assistance to help emerging and existing minority business enterprises achieve significant growth and sustainability and create long-term economic impact through increased jobs and revenue.