The U.S. Department of Commerce has awarded Baltimore $2 million to help minority-owned businesses over the next five years, the mayor’s office announced this week.
The DOC’s Minority Business Development Agency (MBDA) granted the city the money to run the Mid-Atlantic Region Minority Business Development Agency (MBDA) Advanced Manufacturing Center.
The goal of the agency is to provide help and support to minority-owned businesses. Last year, the agency successfully helped create 72 jobs and retain 322 jobs, as well as assist businesses in gaining over $7 million in capital, the mayor’s office said in a statement.
The MBDA is introducing a new initiative to develop a democratically-controlled, manufacturer-owned cooperative. Members of the cooperative, named the Manufacturing Innovation HUB Cooperative, will be able to share resources and opportunities.
–Rachel Kamel