Ohio Invests $150,000 For Minority Business Organizations
Ohio Governor Ted Strickland and Ohio Department of Development Director Lisa Patt-McDaniel today announced that the Akron and Cincinnati Minority Business Development Organizations have each been awarded $150,000 in support of initiatives for minority and disadvantaged businesses.
Since 2008, the Minority Business Development Organizations initiative has assisted in creating 70 jobs and retaining 260 positions.
These funds assist in operating the EDGE (Encouraging Diversity, Growth, and Equity) Mentoring Program which provides minority business owners with mentoring opportunities with major corporations in key areas such as strategic management, training and financial resources.
“We are committed to strengthening minority-owned businesses and creating job opportunities for Ohio’s diverse workforce,” Strickland said. “The knowledge and guidance shared within our mentoring program will promote business best-practices and foster a thriving, inclusive business climate for all Ohioans.”
The Minority Business Enterprise Division of the Ohio Department of Development, in conjunction with the Akron Chamber of Commerce and the Greater Akron Urban League, recognizes the renewal of the Akron Minority Business Development Organization, located at 440 Vernon Odom Boulevard, Akron, Ohio 44307.
The Division, in conjunction with the Greater Cincinnati African American Chamber of Commerce, also recognizes the renewal of the Cincinnati Minority Business Development Organization, located at 2945 Gilbert Avenue, Cincinnati, Ohio 45206.
To date, these organizations have received a combined $900,000 which is used to leverage resources for disadvantaged and minority business owners throughout their regions.
The objectives of the Akron and Cincinnati Minority Business Development Organizations are to identify and support eligible companies to accelerate Ohio’s long-term prosperity by focusing and leveraging resources to promote innovation, competitiveness, and self-sufficiency.
Combined, these organizations provided more than 1,100 hours of counseling over the past two years, assisting 117 clients. Their initiatives helped strengthen the state’s minority businesses community and resulted in 86 various certifications.
“The Minority Business Enterprise Division continues to deliver essential resources to our state’s regional business communities,” Patt-McDaniel said. “These collaborative state and local efforts provide a wealth of services and resources to minority-owned businesses, helping to provide guidance for financial and strategic business plans.”
EDGE certified businesses are enterprises owned by economically and socially disadvantaged business owners.
Minority and EDGE entrepreneurs are provided with services that include business development counseling, access to financial resources and participation in a structured Mentor Protege Program, which are some of the resources available to minority business owners through the Minority Business Development Organizations.
Topics: 2010, Akron, and Equity, business, Cincinnati, disadvantaged business, economic development, economic growth, economic recovery, EDGE, EDGE Mentoring Program, education, employment, Encouraging Diversity, financial resources, Governance, government, Governor Ted Strickland, growth, investment, jobs, minorities, minority, Minority Business Development Organizations, minority owned business, moniter, monitor, news, Ohio, skills, strategic management, training, U.S., United States, workforce
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