Cleveland, Ohio, March 23, 2009 - The Minority Business Accelerator 2.5+, a program of the Commission on Economic Inclusion, has received a second-year grant of $1 million from the Fund for Our Economic Future to assist African American- and Hispanic-owned enterprises with landing new business opportunities. Since its launch in January 2008, the MBAccelerator 2.5+ has helped 10 minority-owned enterprises (MBEs)-in industries ranging from construction to printing-win contracts worth more than $30 million with an average deal value of $650,000. These companies also have added 40 employees. For 2009, the MBAccelerator 2.5+ has set a goal of serving 12 more companies and plans to help its client MBEs double their revenue over three years.

"Our approach is a demand-driven model that builds win-win relationships for our private- and public-sector clients and our MBEs," says Andrew Jackson, executive director of the Commission. "The program has successfully assisted majority companies and organizations achieve their goal of increasing their diversity spend, and we're helping MBEs develop the capacity and capabilities to deliver the level of service needed to grow their companies and increase their bottom line."

Northeast Ohio companies and organizations that have signed deals with MBEs registered with the MBAccelerator2.5+ include Case Western Reserve University; Cleveland Clinic; Cleveland Metropolitan School District; the Cleveland Museum of Art; Cleveland State University; Cuyahoga County Board of Commissioners; KeyBank; The MetroHealth System; The Sherwin-Williams Company; and University Hospitals.

The MBAccelerator 2.5+works with African American and Hispanic MBEs with annual revenues of at least $2.5 million in a 16-county area* of Northeast Ohio.  MBEs that have closed deals to date are:

• APA Associates (structured data cabling)
• Coleman Spohn Co.(construction/heating and cooling)
• The Coniglio Co. (construction/renovation)
• Global Point Technologies, Inc. (data cabling)
• FX Digital Media (printing)
• Key General Contractors (construction/renovation)
• MAC Installations & Consulting LLC (telecommunications)
• Ralph S. Tyler Companies (architectural design)
• Start to Finish Construction (carpentry and finishing)
• Triple A Builders (construction/ architectural fiberglass, gypsum board systems and fixed sound absorbing panel installation)

The Commission on Economic Inclusion, a program of the Greater Cleveland Partnership (GCP), works to significantly improve the meaningful involvement of minority businesses and individuals in the economic engines that drive Northeast Ohio. The GCP mobilizes private-sector leadership, expertise and resources to create jobs and wealth and improve the economic vitality of the region.

The Fund for Our Economic Future is a collaboration of  philanthropic organizations and individuals that have united to strengthen the economic competitiveness of Northeast Ohio through grant making, research and civic engagement.

*The 16-county service area of the Minority Business Accelerator 2.5+
 
1. Ashland
2. Ashtabula
3. Carroll
4. Columbiana
5. Cuyahoga
6. Geauga
7. Lake
8. Lorain
9. Mahoning
10. Medina
11. Portage
12. Richland
13. Stark
14. Summit
15. Trumbull
16. Wayne