JACKSON, Miss. (WJTV) – On Friday, U.S. Senator Roger Wicker announced the U.S. Department of Commerce Minority Business Development Agency (MBDA) awarded Tri-County Contractors, Inc. $375,000 to launch a MBDA Business Center in Mississippi.
The award, which will be granted each year for five years, represents a $1.875 million planned investment in the state. According to the senator, Mississippi has not had a MBDA center in years.
“A new Minority Business Development Agency Business Center will put technical and business development services within reach for more minority-owned businesses in Mississippi,” Wicker said. “The MBDA brings tremendous value in creating jobs and promoting entrepreneurship. I appreciate Commerce Secretary Gina Raimondo for her recognition of the entrepreneurial spirit found in Mississippi.”
MBDA Business Development Centers support clients by assisting with sales and service agreements and matching sales opportunities to qualified clients. The centers also help clients build capacity by:
- improving operational efficiencies
- increasing resources
- building scale
- managing risk and increasing liability thresholds
- strengthening management teams;
- accessing and securing financing, equity, and venture capital
- increasing profits and owner equity
- implementing and integrating new technology and equipment.