Opportun-nomic$ (ä-per-’tyün-’nä-miks) 1
:Where inclusive access to opportunity connects to reshape the economic landscape.
THE MMBC CONTINUUM 2022 ANNUAL SERVICE REPORT
Leading the Way in “Opportun-nomic$” Letter from the President and CEO Through this annual service report, I am thrilled to share with you the exciting developments that have unfolded in the past year, thanks to the unwavering support of our corporate partners, and M/WBEs. With the visionary commitment of the Ford Motor Company, in 2022, a monumental investment of $6 billion paved the way for the establishment of a state-of-the-art manufacturing plant in Ford BlueOval City. This groundbreaking initiative focuses on the production of the innovative F-150 Lightning truck and a cutting-edge battery plant. This investment serves as an economic infusion for West Tennessee. The ripple-effect of this investment is nothing short of transformative for our community. Not only does it signify a significant boost to our local economy, but it also brings forth a wave of opportunities that will resonate for years to come. As we witness the emergence of Ford BlueOval City as a hub of progress, it is paramount to acknowledge the creation of new jobs, accompanied by higher living wages. This monumental leap towards economic prosperity is a testament to the power of collaboration and forward-thinking initiatives. At the heart of this endeavor lies a commitment to nurturing talent and fostering growth. Our core development and training workshops, have become the cornerstone of skill enhancement, new insights, and knowledge transfer. The workshops and seminars serve as a testament to our intentional focus to support business owners and help them build a workforce that is not only skilled, but also poised to thrive in the dynamic landscape of opportun-nomics. The term “opportun-nomics” encapsulates the essence of where opportunities are birthed to connect with economic progress. This symbolizes the relationship between seizing the opportunities that drive economic growth to help communities locally, regionally and across the state. This newfound synergy that fuels opportunities and leads to economic progress is poised to redefine the landscape initiated by Ford BlueOval City, marking a pivotal moment in our collective history. As we reflect and highlight milestones reached in 2022, we want to express heartfelt gratitude to our corporate and M/WBE members, funders, and ecosystem community partners. We are excited to work collectively and continue this journey of growth together. Here’s to continued opportun-nomics and the unlimited possibilities it holds for our communities! Sincerely,
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Jozelle Luster Booker President and CEO MMBC Continuum
The MMBC Continuum Creating the path to business success! As the economic accelerator for Minority and Women-owned Business Enterprises (M/WBEs), The Mid-South Minority Business Council Continuum (MMBC Continuum) has been a staying force in Memphis and the Mid-South region. The businesses that survived the COVID pandemic are still feeling the aftermath that affected every industry. The Relief, Recovery and Stabilization Initiative that the organization launched in 2020 was in response to the most effective way to service MMBC Continuum members and Tennessee MBDA clients. Throughout 2022, programming and resources were also provided under the Stabilization Phase to support businesses as they managed and navigated pandemic recovery. This service report provides a platform to highlight the organization’s successes, while demonstrating the value provided to members and clients.We are very proud to share that The MMBC Continuum’s certification is now accepted nationally by the Ford Motor Company. This is a monumental accomplishment and serves as an additional membership benefit that positions businesses to do business across the entire Ford enterprise, which extends beyond the Ford BlueOval City Project currently in progress in Stanton, TN. As a result of our efforts, several members and clients have already benefited from the partnership forged with the Ford Motor Company and Walbridge for strategic sourcing.
Corporate Partnerships that Produce Solutions The MMBC Continuum is fortunate to serve multiple memberships – M/WBEs and Corporations. The partnership with public and private corporations and government entities allows for inclusive sourcing and positions the organization as a valued resource. There are a litany of services that any corporation can utilize to achieve successful sourcing and proven procurement strategies., including RFP Distribution, Direct Sourcing, Matchmakers, Goal Attainment Assistance, Unlimited Access to the Corporate Efficiency Directory (CED), which houses hundreds of companies with the capacity to meet the demands of corporate America. MMBC Continuum is proud to welcome Brassfield & Gorrie as a new corporate member!
Hear what Corporate and M/WBE members have to say about the variety of training seminars and workshops.
Excellent seminar with very valuable information. Arma Orr, Memphis Light, Gas & Water Joint Venture Series
Dyamic tools provided for business development. Scott Swanson, Stragistics Technology Elevator Pitch Seminar
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2022 Impact Report Making A Difference: Business Development and Strategic Growth.
2022 Impact Report January 1 - December 31
The MMBC Continuum and its related entities are pleased to present these organization-wide impacts of its programming and services made possible by generous contributions of corporations, public/private foundations, banking partners, M/WBE members and stakeholders.
3,265
823
Number of Member Services
Number of Training & Consulting Hours
7,589
8,251,917
Number of Jobs
Number of Impressions
40/1,432
443
Number of Networking Events & Connections
$1.45B Revenue
Number of Contract Opportunities
Irvin Lansky Foundation
TADP/MBA Funders
4 MMBC Continuum | mmbc-memphs.org | 901-525-6512
Technical Assistance and Developmental Pool (TADP) Highlights Technical Assistance and Developmental Pool Empowering Excellence – The TADP is the 501(c)(w3) non-profit training arm of The MMBC Continuum.
The Technical Assistance and Developmental Pool (TADP) exists to provide unparalleled core business development and resources to empower Minority and Women-owned Business Enterprises (M/WBE). The TADP is the MMBC Continuum’s non-profit 501(C)(3) sister organization that develops specialized training, core development, and technical assistance. In order to position M/WBEs for success, TADP training presents a 360 degree holistic approach to foster healthy finances, robust teams, efficient operations, risk management, and impactful marketing. With such a competitive business landscape, M/WBEs must be positioned and equipped to compete globally and the TADP has been intricately designed to create scalable diverse suppliers that can meet the needs of corporate America, while creating jobs to impact the overall economy. Throughout 2022 the TADP presented over 20 different training seminars and workshops. Due to the lingering effects of COVID, many of the sessions were presented virtually. Many of the trainings were presented in partnership and collaboration with the Tennessee APEX Accelerator (formerly PTAC) who assists businesses to successfully compete in federal, state and local government contracting, and Tyler Construction Engineers, P.C. who operates business development programs and support services for the Tennessee Department of Transportation (TDOT) Disadvantaged Business Enterprise (DBE) program. For any business that is ready to embrace new ways to grow, the TADP is the source to help business owners navigate growth.
TADP Training Topics: • • • • • • • •
Financial Management Joint Ventures (three-part series) Certified Payroll Bidding & Estimating Lunch and Learns – Covering marketing and sales topics) Effective Elevator Pitch Creation Developing Winning Capability Statements Information Sessions with Government Agencies (i.e.: Memphis Light, Gas & Water; MATA and more)
The TADP provides the tools and resources to create business success!
Special thanks to our funders for their support and investment.
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Tennessee MBDA Business Center Impact During wthis fiscal year (July 2021 – June 2022), the Tennessee MBDA Business Center emerged as a productive powerhouse, driving transformative change and amplifying opportunities for scalable businesses in our region. The impact of the center reflects a commitment to excellence and fostering minority business growth statewide.
Operated by The MMBC Continuum
The business center is focused on serving as a catalyst for growth, while fostering strategic partnerships, and facilitating access to capital to foster job creation to produce economic uplift. Through strategic partnerships and tailored initiatives, the center has empowered entrepreneurs unlock their full potential. The ripple effect of these partnerships resonates across diverse industry sectors. In the dynamic landscape of business, access to capital is paramount. The Tennessee MBDA Business Center has been relentless in its pursuit of securing financial resources for minority-owned enterprises. By facilitating connections with banking partners and other funding resources, the center has played a pivotal role in bridging the capital gap, ensuring that businesses have the financial backing needed to thrive.
Goal Name
Annual Goal
Goal Reach %
MBEs Served
100
92
92%
Gross Revenues Generated
$50 million
$84.3 million
168.69%
Number of Jobs
250
1,197
478.80%
Value of Financing Capital and Bonding
$25 million
$18.6 million
74.53%
Percent Clients that Increase Profits
36
21
58.33%
Capacity Building Engagements
100
46
46.00%
MBEs served:
92
Number of Jobs
6
Goal Reached
1,197
Value of Financing, Capital and Bonding:
$18,633,132 MBDA Client Gross Revenue Generated:
$84,344,952
Number of Capacity Building Engagements
46
This fiscal year has been a testament to the Center’s unwavering commitment to fostering growth, creating opportunities, and building bridges that connect businesses to new horizons. There are several examples of successful MBDA clients that have been positioned for success. Through the dynamic partnership established between MMBC Continuum, Tennesee MBDA, The Ford Motor Company, and Walbridge, several MBDA clients bid competitively and were awarded contracts valued at over $65 million.
National Training Conference and MED Week Participation in the National Training Conference and the National Minority Enterprise Development (MED) Week provides opportunities for the business center team to embrace the national inititiatives and then translate those opportunities to improve client access and center operations. These events have provided a platform for knowledge exchange, networking, and showcasing the achievements of our clients and partnerships on a national stage. The Tenneseee MBDA Busienss Center had the opportunity to nominate a client for a various MED Week awards. One of the center’s clients, The Carter Malone Group was nominated and won the National MED Week Marketing and Communication Firm of the Year Award. Founder and Owner, Deidre Malone, was recognized on the national stage by the U. S. Under Secretary, Don Cravins.
Pictured: Deidre Malone, Founder & Owner, The Carter Malone Group and Don Cravins, U. S. Under Secretary, MBDA
Center-to-Center Network Collaboration This national network of centers facilitates cross-pollination of ideas, resources, and best practices, creating collaborations that strengthens the impact of MBDA Business Centers across the nation. As members scale and expand their capacity to serve customers outside of their current geographic footprint, the business center network is an established way to get the support and assistance needed to be successful. A client who operates a successful janitorial company was able to connect with one client in two different cities. With the assistance from partnering centers, the Tennessee MBDA Business is able tocreate meaningful connections As we navigate the dynamic landscape of business, the Tennessee MBDA Business Center remains dedicated to nurturing innovation, resilience, and economic prosperity for minority businesses. Together, we are not just witnessing change; we are architecting a future where opportunities flourish, and success knows no bounds. As we celebrate the successes of the Tennessee MBDA Business Center we look forward to building on this momentum. Together, we are creating a legacy of empowerment, sustainability, and growth, resilience, and economic prosperity that will resonate for generations to come.
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Administrative and support and waste management and remediation services Wholesale trade Manufacturing
6 2,49 2
33
276,0
52,205
19 ,559
2
9 11 ■■•■3■• ■■ 3 2
----• 20 ,002
Finance and insurance ■P •2•7111• 2■6ii3____ 19 4,032
■ Minority ■ Nonminority
National MBDA Fact Sheet Data 47,1 75
Transportation and warehousing
Arts, entertainment, and recreatior ■ 12•399
1 47,703
9 5,742
According to the U. S. Minority Business Development Agency (MBDA) fact sheet using data from the 3 Information 6 ,4 2020 Census Bureau, Minority Employer� Firms (ethnic minorities) reported $1.6 trillion dollars in gross 1 4• 5 ■ Educational services 8 -51 ,19 receipts and 9.8 million jobs. This data supports the need to continue growing scalable minority firms that Agriculture, forestry, and hunting �.�.4]},799 Currently, there are over 100 business centers and other can impact job creation tofishing stimulate the economy. specialized centers, and including manufacturing, export, and federal procurement centers. Mining, quarrying, oil and gas extraction� l5,755 2
02
22
Management of companies and enterprises� 'j ��Ol Ut·I·t· I I 1es
13
2
I 2,8 60
0
l 00,000
200,000
300,000
400,000
500,000
600,000
700,000
African American Employer by Industry Sectors in 2020 In 2020, Minority EmployerFirms Firms generated revenues of
$1.6 trillion fJ;
19 5 75 Professional, scientific, and technical services -.. 111·■ ______________________ 6 71,092 Construction ••l Oil,33o ■
-------------------- 6 l ,95l 8
■ ■ ■
9. 4 61 Retail trade -■--------------4 53, 583
Minority Employer Firms 7,194 by41Gender
Share ofHealth Minority Employer Firm • 19 care and social assistance Gross Receipts by Gender 8,4 3 5 38 8
Accommodation and food services ••• il 111iilil _________ 30 6 ,335
Other services (except public administration) 1 9A7l Male Real estate and rental and leasing 6 ,o5■5 ________
111!
■ il■ ■
290, 6 91 27 6 ,487
3 Administrative and support and 12,74 ■ Female 27682,506 6 ,033 ■ waste management and remediation services••--------■ 2,00■ 5 Equally male & 219,559 Wholesale trade
female
■ African American Manufacturing 1' 557 203,002 ■ Nonminority 4 4 14 Finance and insurance 11111 111• _____ 194,032 ■ ■
Transportation and warehousing 1 9•581
147,703
Arts, entertainment, and recreation I 3. 715
95 ,742
Information 1 1• 6 20 6 2,402
Educational services 1 2•52451,198 Agriculture, forestry, fishing and hunting� 23,799
,12
Mining, and oil and gas extraction Like the 2020 Census, quarrying, the ABS used the improved race and ethnicity question design15 and procedures. These improvements enabled a more accurate depiction of how people ,7coding 55 self-identify, yielding a more accurate portrait of how people report their Hispanic origin and race within the context of the race and ethnicity questions asked on the survey. Management of companies and enterprises 15 , 1 0 1 Visit www.mbda.gov/about-us/research-data for more information about US minority-owned firms
J
Ut·1·t· I I 1es I 32,48 6 0 0
l 00,000
200,000
300,000
400,000
500,000
MlNORITYBUSINESS DEVELOPMENT AGENCY
6 00,000
In 2020, African American Employer Firms generated revenues of
� $141.1 billion
Share of African American Employer Firms Gross Receipts by Gender
■ Male ■ Female ■ Equally male & female
8
African American Employer Firms by Gender
77,044
Like the 2020 Census, the ABS used the improved race and ethnicity question design and coding procedures. These improvements enabled a more accurate depiction of how people self-identify, yielding a more accurate portrait of how people report their Hispanic origin and race within the context of the race and ethnicity questions asked on the survey. African American includes Black or African American. Visit www.mbda.gov/about-us/research-data for more information about US Black or African American-owned firms
MlNORITYBUSINESS DEVELOPMENT AGENCY
2022 Economic Development Forum Highlights The EDF is the Mid-South’s largest economic development conference that convenes major corporations, public sector agencies, scalable minority and women-owned business enterprises, community partners and a host of other stakeholders. The conference provides exposure to national thought leaders, great networking, access to supplier diversity, procurement opportunities, and economic inclusion best practices.
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2022 Robert R. Church, Sr. Awards Luncheon The Robert R. Church, Sr. Achievement Awards is the annual celebration of corporate and M/WBE achievements.
2022 Corporation of the Year Award Winner: Tennessee Valley Authority Finalists: Shelby County Schools; Methodists Le Bonheur Healthcare
2022 MBDA Business of the Year Award Winner: W & T Contracting Corporation Finalists: Castle Black Construction, Inc., ServiceMaster Facilities Maintenance
2022 Scalable M/WBE Business of the Year Award Winner: Pete Mitchell & Associates Finalists: Brighter Days & Nites, Inc., ServiceMaster Facilities Maintenance
10 2022 M/WBE Quality Assurance Business of the Year Award Winner: Action Janitorial Paper Safety Finalists: ABES Engineering, Inc.,The Premier Group, LLC
2022 Board Of Directors Jozelle Luster Booker, President & CEO, MMBC Continuum Larry Fogarty, Vice President, Supply Chain Management, Methodist Le Bonheur Healthcare Raajkumar Kurapati, CFO, Vice President for Business and Finance, University of Memphis Tammy LoCascio, SEVP, Chief Operating Officer, First Horizon David McKinney, VP, Government, Public & Community Relations, Customer Satisfaction, AutoZone Keith Norman, Vice President of Government Relations, Baptist Memorial Health Care Board Chairman Gary Rosenfeld, President & CEO, Memphis Area Transit Authority Leticia Towns, Sr. Vice President and Chief Administrative Officer, Regional One Health Justin Troy, Director, Sourcing/Sourcing & Procurement, FedEx John Webb, Market President, Tri-South Region, CIGNA Healthcare of Tennessee, Inc. Laurel Williams, Esq., Burch Porter & Johnson
MMBC Continuum Staff Jozelle Luster Booker, President & CEO Melba Chester, Director of Core Development and MMC-TADP, Inc. Brittney Elkins, Program Manager Brittney Gaines, Administrative Program Assistant Zaria Lane, Administrative Program Assistant Lashonda McBride, Manager of Member Registration Natalie Robinson, Vice President and Director of Communications & Marketing
Tennessee MBDA Business Center Staff Lawrence Browder, Jr. MBDA Project Manager
Cedric Hamilton Director, Federal Procurement and Business Development
Kelli Wiggins Sr. Program Assistant
Marlena Ortiz Business Development Specialist
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200 Jefferson Av e nue S u i te 1 0 0 0 Memphis, T N 3 8 1 0 3 Phone: (90 1 ) 5 2 5 - 6 5 1 2 Fax: (90 1 ) 5 2 5 - 5 2 0 4 www.mmbc-me m p h i s. org
200 Jefferson Av e nue S u i te 1 0 6 6 Memphis, T N 3 8 1 0 3 Phone: (90 1 ) 5 2 8 - 1 4 3 2 Fax: (90 1 ) 5 2 5 - 5 2 0 4 www.tnmbdabusine ssc e nte r. org