A new study is outlining the multi-billion dollar economic impact of certified Minority Business Enterprises in Indiana. The Indianapolis-based Mid-States Minority Supplier Development Council says the results show the 144 companies certified by the organization that are headquartered in the state generate more than $4.5 billion in business activity per year. The organization says more than 24,600 jobs are linked to MBEs.
Chief Executive Officer Carolyn Mosby says ensuring the success of this diverse group of businesses has a significant positive effect statewide. "I think the creation of healthy minority businesses helps socio-economically challenged communities solve some of the existing problems and that’s part of our mission." She says the study is a first for the organization and helps drive its value proposition by providing tangible figures for those looking to help minority businesses grow.
The Institute for Thought Diversity was contracted for the study, which was sponsored by Indiana University. It involved more than 180 businesses in Indiana, central Illinois and eastern Missouri. Mosly says the results show more. "We also have seen that sales from diverse business are growing about 34 percent a year, which is twice as fast as the national average.
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Mid-States Minority Supplier Development Council Chief Executive Officer Carolyn Mosby says ensuring the success of this diverse group of businesses has a significant positive effect statewide.