Charlotte’s Initiative for Minority-Owned Construction Businesses

News Summary

Charlotte is advancing its support for minority-owned businesses through the Charlotte Business Inclusion (CBI) program. The initiative focuses on aiding entrepreneurs like Ada Esther Gil Jimenez, who transitioned from a career in technology to construction. With CBI’s help, she founded her business, AEGJ, and secured significant contracts. The program aims to expand its network and has introduced a $40 million growth fund to tackle financial barriers. As the city’s commitment to supplier diversity grows, the future for minority entrepreneurs appears bright.

Charlotte’s Push for Minority Business Success

The city of Charlotte is taking bold steps to support its minority-owned businesses. As the local economy continues to grapple with the lingering effects of the COVID-19 pandemic and the challenges of rising home prices, many business owners are finding themselves in need of guidance and resources. The Charlotte Business Inclusion (CBI) program has emerged as a beacon of hope, offering mentorship and opportunities specifically tailored for minority entrepreneurs seeking growth.

A Journey from Technology to Construction

One inspiring example of the program’s effectiveness is the story of Ada Esther Gil Jimenez. Growing up in a family rooted in construction, she initially pursued a career in technology. However, following a series of unfortunate events, including financial distress during the pandemic, Gil Jimenez was compelled to revisit her construction roots. With the help of a nonprofit organization, she secured a home and began to see her potential as a general contractor.

Despite her initial fears about starting her own business, Gil Jimenez founded her construction company, AEGJ. Realizing she needed to enhance her knowledge and skills, she turned to the CBI program, where she gained critical insights into financial management and the art of securing contracts. Just months after her participation, AEGJ landed notable projects, including contracts at the Spectrum Center and Charlotte Douglas International Airport.

The Importance of Minority-owned Businesses

According to CBI officials, minority-owned businesses play a crucial role in strengthening the community and driving economic development. The urgency for supportive programs like CBI is magnified by a broader movement which has seen federal diversity initiatives being rolled back. Many major corporations in the Charlotte area are now reducing their emphasis on diversity, equity, and inclusion (DEI) in business strategies and SEC filings.

Some of the largest publicly traded companies have shifted their focus away from the words ‘diversity’ and ‘equity,’ favoring a more neutral stance on ‘inclusion.’ This reflects an alarming trend where various entities are scaling back DEI initiatives, influenced by political and legal pressures from recent state laws that restrict DEI policies in public institutions. These changes pose considerable challenges for businesses that rely on government contracts.

CBI’s Impact and Future Goals

Last year, the Charlotte Business Inclusion program reported an impressive $193 million in city contracts aimed at supporting minority and women-owned businesses—a 23% increase from the previous year. The city aims to position itself as a national model when it comes to supplier diversity and economic equity. Over the coming year, the CBI has set a goal to expand its network from 560 to 640 contracted minority businesses.

In an exciting development, the program has launched a new $40 million growth fund specifically designed to tackle the barriers that minority-owned businesses face in accessing affordable financing. Additionally, the upcoming Contractor Development Program is set to provide technical skills and mentorship to further bolster the capabilities of these businesses.

Celebrating Success Stories

The expansion of AEGJ is just one of the many success stories that demonstrate the tangible benefits brought forth by the CBI initiative. Other local construction firms, such as DA Everett Construction and McFarland Construction, have also secured significant city contracts, showcasing the program’s effectiveness in paving the way for minority entrepreneurs.

With over 35 dedicated liaisons working across 20 city departments, the Charlotte Business Inclusion program is setting a powerful precedent. As the city continues to nurture and invest in its minority-owned businesses, the future looks promising for entrepreneurs who are eager to contribute to Charlotte’s vibrant economy.

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Additional Resources

• WCNC: Minority-owned business boost in Charlotte
• Wikipedia: Minority-owned business
• Charlotte Observer: Business news
• Google Search: Charlotte businesses
• Black Enterprise: City contracts to Black businesses
• Google Scholar: Minority business support
• WSOC TV: Program to support minority-owned businesses
• Encyclopedia Britannica: Business inclusion