“Billion Dollar Impact” Aims to Help Minority Businesses, Create Jobs
ST. LOUIS (KMOX)-There’s a new local effort to help local minority-owned businesses drum up $ 1 billion dollars in new revenue and create 2,000 jobs over the next three years.
The program, called the “Billion Dollar Impact” was announced Thursday by the St. Louis Minority Supplier Development Council. Council President James Webb says it encourages local corporations to do business with local minority owned small businesses, ” Many of our MBE’s can provide products, services and goods for corporations that are purchasing them from other places right now.”
Webb says several big corporations have signed a pledge to take part. Webb says the DBE’s will report their progress to the council, which will issue quarterly reports, “If it falls short a little bit, we’ll try to identify and adjust to what is a reasonable approach.”
Webb says local minority owned businesses are generating $3.2 billion in revenue now, so a billion dollars over three years is a little aggressive, but not out of the question.
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