NYCEDC Launches Blueprint to Success - A New Program to Assist M/W/DBE Contractors

New York City Economic Development Corporation (NYCEDC) today announced the launch of a program that will provide in-depth and individualized technical assistance to certified minority, women and disadvantaged business enterprise (M/W/DBE) construction firms. Blueprint to Success, is designed as a training program specifically targeted to M/W/DBE contractors, and will assist up to twenty selected certified New York City based M/W/DBE construction firms. The program will be geared to meet each of the businesses specific needs and address areas such as the financial, and technical management of their firms. Once selected, the construction firms will receive: in-depth business assessment and one-on-one technical assistance to support capacity building; a tailored business curriculum to assist in meeting specific development goals; and opportunities to expand professional networks and establish relationships with NYCEDC’s prime contractors and construction management firms. NYCEDC is partnering with Bradford Construction Corporation and Jamaica Business Resource Center (JBRC), which were selected through a competitive bid process to manage and implement the program, as well as to design the individualized curriculum.

“Assisting minority, women and disadvantaged business enterprises or MWDBEs is critical to ensuring our City’s long-term economic success,” said New York City Economic Development Corporation President Seth W. Pinsky. “NYCEDC is proud of its accomplishments in assisting New York City-based MWDBEs in recent years, and is pleased that, through Blueprint to Success, we will be able to offer even more of the important tools that these businesses need to grow and thrive, going forward.”

“The Blueprint to Success and Kick-Start programs are steps in the right direction to bolster M/W/DBE's in our City which still represent a small percentage of contracts," said New York City Council Member Diana Reyna, Chair of the Small Business Committee. “I am committed to bolster M/W/DBE firms - these programs are what we need to change the status quo and encourage minority and woman run firms to take the next step. We must continue to present programs that will increase opportunities for M/W/DBE's.”

“The Blueprint for Success initiative is a pro-active approach that will allow minority and women owned business enterprises to significantly increase their ability to build capacity and grow their business,” said New York City Council Assistant Deputy Majority Leader Inez E. Dickens. “I am encouraged by the partnership with the Bradford Corporation and in particular, the Jamaica Business Resource Center. Timothy Marshall has an outstanding record in brokering opportunities for minority and women owned business enterprises. I am pleased that the Mayor is making significant efforts to help the small business community through cultivation of the minority and women owned business community.”

“I applaud the New York City Economic Development Cooperation for taking this important first step toward reducing the numerous obstacles faced by MWDBEs,” said Council Member Fernando Cabrera, Co-Chair of the Black, Latino and Asian Caucus.

Applications for Blueprint to Success are due by February 29, 2012 at 4 p.m. A selection committee made up of representatives of NYCEDC, Bradford, and JBRC will then review applications, perform interviews, and announce selected firms in Spring 2012. The program and classes will take place over the summer of 2012, culminating later that Fall. To download an application go to www.nycedc.com/blueprint.

Bradford Construction Corporation and JBRC were selected as the City’s partner on this program through an RFP issued in January 2011. Bradford is a certified Women Business Enterprise with 30 years of experience in providing construction and project management for many public agencies and authorities. JBRC is a national small business pilot program established by former President Bill Clinton and has provided technical assistance and training to over 7,500 small, minority and women owned businesses since its inception.

“The NYCEDC is at the threshold of advancing a new era of opening opportunities for the M/W/D/BE community in New York,” said Timothy Marshall, President of the Jamaica Business Resource Center. “During these challenging economic times, entrepreneurs are seeking innovative strategies to advance their enterprises. We encourage M/W/B/E firms to take advantage of this opportunity.”

“Minority, Women and Disadvantaged business enterprises are essential to the success of New York’s economy,” said Sandra Wilkin, President of Bradford Construction. “Blueprint to Success offers the best means of building capacity to become competitive in today’s fast track market. By providing an individualized curriculum, it will enhance the capabilities of the contractors and hone their business skills to focus on quality, delivery time and performance management.”

Blueprint to Success is one of a set of initiatives announced by NYCEDC a year ago to support and increase opportunities for New York City based MWDBEs. The initiatives were the result of efforts by NYCEDC who held meeting with numerous stakeholders including M/W/DBEs, construction organizations, local elected officials, and community leaders as part of an ongoing review of how NYCEDC can best assist M/W/DBEs.

As part of these initiatives NYCEDC also recently launched the M/W/DBE Kick-Start Loan program in December 2011. Historically, minority, women and disadvantaged business enterprises, especially construction firms, have difficulty in attaining small business loans to further grow and develop their businesses. The Kick-Start Loans’ goal is to provide M/W/DBEs that hold or are subcontractors under NYCEDC contracts with capital to finance their mobilization efforts through Program-sponsored loans of up to $150,000 with a six to nine- month repayment period. The loans issued to Program-eligible M/W/DBE borrowers are to be utilized to meet long lead equipment, material and/or labor costs related to NYCEDC construction projects. This program hopes to expand M/W/DBEs access to capital, increasing their ability to participate in larger projects or increase the possibility of participating on projects. The Kick-Start Loan program is managed by Business Outreach Center Capital (BOC Capital), who was selected through an RFP issued in November 2010. All borrowers will be given the opportunity to participate in financial and management training offered by BOC Capital or NYCEDC.

Blueprint to Success and Kick-Start Loans will build upon NYCEDC’s existing Opportunity M/W/DBE program, developed in 2006 to increase participation by M/W/DBEs in all NYCEDC projects. Opportunity M/W/DBE engages all M/W/DBEs including contractors, consultants and suppliers, and is committed to facilitating the growth of these firms. Opportunity M/W/DBE has awarded over $100 million to M/W/DBE firms in contracts as both prime and sub contractors over the past four and a half years.

About NYCEDC

New York City Economic Development Corporation is the City's primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC's mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City's many opportunities. Find us on Facebook or follow us on Twitter, or visit our blog to learn more about NYCEDC projects and initiatives.