The Institute of Minority Economic Development

The Institute has:

helped firms contribute millions of dollars in new revenue to North Carolina's economy
developed programs that have generated or retained jobs in low-wealth and minority neighborhoods
compiled comprehensive information on low-wealth and minority populations
planted the seeds that resulted in 1,700 minority students receiving training in biotechnology
coordinated and provided information through more than 200 workshops and conferences on economic development
informed and educated thousands of business owners on business-related issues
helped corporations identify hundreds of minority business partners

Minority Business Development Center

The NC MBDC is a federally-funded program by the U. S. Department of Commerce’s Minority Business Development Agency (MBDA) and operated by the North Carolina Institute of Minority Economic Development. The Institute has been dedicated to serving MBE’s in North Carolina for over 20 years. Our commitment and dedication will continue as we provide financial and technical assistance to the MBE’s with continued efforts in education, training, marketing and procurement.

Women's Business Center

The Women's Business Ownership Act of 1988 created the first demonstration project grant program to train prospective and current women entrepreneurs.

In 1991, the program was expanded to include reaching out to women who were socially and/or economically disadvantaged. Under the Small Business Reauthorization Act of 1997, the Women's Demonstration Program became known as the Women's Business Center (WBC) Program.

Construction Initiative

Although a significant number of North Carolina's historically underutilized business enterprises (HUB's) are in the construction trades, they represent less than two percent of the industry. The Institute is helping to increase minority participation. In one nine month period, the Institute helped 22 firms receive $4.8 million in contracts or subcontracts and positioned 150 HUBs to compete for university system construction contracts.

MBE Financing Initiative

The Institute has taken the lead in developing "Evergreen Investments", a funding institution that could provide equity financing to North Carolina's economically and socially disadvantaged firms. The Institute recently submitted a proposal to the U.S. Treasury for certification of Evergreen Investments as a Community Development Financial Institution. Efforts are under way to raise capital.

Specialized Management and Technical Assistance Program (MTAP)

Created in partnership with the University of North Carolina's Kenan Institute of Private Enterprise, MTAP is a management consulting service for a select group of established minority owned firms with high growth potential. Experience MBA graduates on staff at the Institute work closely with these companies to develop strategic growth plans and strengthen their internal management and controls. In the second half of 1996, more than 1500 hours of technical assistance were devoted to industry analysis; loan packaging; marketing plans and development; restructuring debt; cash flow analysis; system development and implementation; sales force training; and market expansion. Services were provided for both for-profit as well as non-profit development corporations.

Imparting Knowledge

Data and Information Initiative

Policy research, analysis and information sharing are primary functions of the Institute. It conducts investigative studies on the status of minority businesses, on the role of the government in minority business development, and on minority firms' disparate access to public procurement contracts.

Additionally, the Institute monitors the impact of minority-controlled community development corporations and credit unions. These studies lay the foundation for sound policy decisions by public policy makers, private sector lenders, higher education institutions, and community economic development practitioners.

Dissemination

The Institute's research results and policy developments are published in journals and special reports. The Institute's newsletter provides information on programs, projects, briefings, and notices on the economic and social health of low-wealth and minority communities. And it's Minority Business Directory, which lists 2,600 MBE's in North Carolina, is distributed annually to over 300 corporations, colleges, and governmental agencies.

Workshops, Forums and Symposia

Many of the Institute's findings are disseminated through symposia and forums. The Institute has sponsored or co-sponsored workshops and seminars with over 400 participants and recruited more than 600 MBE's to participate in purchasing forums. And in keeping with its mission to address issues impacting low-wealth and minority communities, the Institute sponsors "Straight Talk" symposia for frank discussions on racism, economic inequality, and other contemporary social trends.

HBCU Initiative Programs

On the Ground Smoking Cessation

The "On The Ground Smoking Cessation and Prevention Project" is a joint partnership between three Historically Black Colleges and Universities (HBCUs) in North Carolina: Bennett College for Women, North Carolina A&T State University and North Carolina Central University.

The goals of the "On the Ground Smoking Cessation and Prevention Project" are:

• Reduce smoking among college students,
• Strengthen campus smoking policies,
• Raise public awareness in surrounding communities.

Biotechnology

The Institute brokered a partnership between the North Carolina Biotechnology Center and six of the state's Historically Minority Universities in 1993 to enhance minority students' access to careers in the growing biotechnology industry. Each of the universities has developed a five-year plan for boosting biotechnology instruction. More than 1,700 students now receive training or instruction.