MBAccelerator2.5+ company secures $400K subcontract with Stark Metropolitan Housing Authority

Wednesday, February 10, 2010

Akron-based MBE on track for further growth

Cleveland, Ohio—Raymond Jackson Enterprises (RJE), a Minority Business Accelerator 2.5+ portfolio company based in Akron, has secured a $400,000 subcontract with Stark Metropolitan Housing Authority's Washington Area Rehabilitation Project. RJE will provide interior and exterior improvements. Merritt Enterprises is the prime contractor on the project, which received funds from the American Recovery and Reinvestment Act.

“The Minority Business Accelerator has been instrumental in our success,” says RJE President and CEO Phillip Moore, J.D., LEED. “Our participation validates RJE's emerging relevance and provides our business development professionals with access to the members of the Greater Cleveland Partnership (GCP).

“The Accelerator also has provided significant financial support in our efforts to fortify our technological infrastructure. RJE was able to purchase and implement an integrated construction management and accounting software program, thanks to the Accelerator's generous funding. This software will be an essential asset to RJE, and we would have not been able to purchase it without the Accelerator's assistance.”

Funded by the Fund for Our Economic Future, the MBAccelerator 2.5+ is an initiative of the Commission on Economic Inclusion, the GCP’s program that works to ensure that economic inclusion is integrated into all aspects of Northeast Ohio’s economic development agenda. It focuses on growing the size, scale and infrastructure of African American- and Hispanic-owned enterprises (MBEs) with annual revenues of at least $2.5 million in a 16-county area of Northeast Ohio.

“The RJE subcontract with the Stark Metropolitan Housing Authority is an example of our successful outreach beyond Cuyahoga County,” says Andrew Jackson, the Commission’s executive director. “The Northeast Ohio regional economy has many interrelated parts. A ‘win’ in Stark County ultimately benefits the entire region. We look forward to continuing to work with RJE and other minority businesses to help them grow their bottom line and create jobs.”

Founded in 1988, RJE has offices in Akron, Dayton and Indianapolis. Its primary services are general contracting, construction management and interior finishes. Moore says that expanding RJE’s service footprint was a significant challenge; however, preparation and hard work have helped the company successfully pursue contracts in other markets.

“Three years ago, we had one office in Akron, Ohio, with a 90-mile service radius,” says Moore. “Today we have offices in Akron, Dayton and Indianapolis, with executed contracts for projects in Toledo, Ohio, and Louisville, Kentucky, in addition to active pursuits in both North Carolina and Tennessee. We overcame this challenge by waking up early and coming home late. RJE's culture is to mobilize for any feasible and profitable opportunity or relationship.”

-30-

The Minority Business Accelerator2.5+ is an initiative of the Commission on Economic Inclusion , a program of the Greater Cleveland Partnership. Funded by the Fund for Our Economic Future, the MBAccelerator2.5+ focuses on growing the size, scale and infrastructure of African American and Hispanic MBEs with annual revenues of at least $2.5 million in a 16-county area of Northeast Ohio.
www.mbaccelerator2-5.com

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.
www.commission-inclusion.com

The GCP mobilizes private-sector leadership, expertise and resources to create jobs and wealth and improve the economic vitality of the region.
 www.gcpartnership.com.

 

Back to News