City to receive $ 1.875 million to operate Minority Business Development Center – City of Albuquerque
October 5, 2021
The City of Albuquerque has received a $ 1.875 million grant from the Minority Business Development Agency (MBDA) of the U.S. Department of Commerce to support the New Mexico MBDA Business Center, which is located in Albuquerque and operated by the city’s Department of Economic Development. Funding will support the center’s operations, which are essential for the creation and growth of minority-owned businesses.
The city will receive $ 375,000 annually for five years through June 30, 2026, provided that satisfactory performance is provided and funding is approved by Congress. The Albuquerque City Council officially approved the funding on Monday.
“In Albuquerque, 60% of small businesses are minority owned, so this grant is an investment in the heart of our economy and is fundamental to accelerating our city’s recovery from the pandemic,” said Mayor Tim Keller. “We are committed to creating opportunities for companies and families. This also includes promoting an entrepreneurial ecosystem with justice and inclusion at the center. “
The New Mexico MBDA Business Center has been operating in its offices in the Barelas Economic Opportunity Center of the Albuquerque Hispano Chamber of Commerce, 1309 4th St. SW, since December 2020. In the first 12 months, the center served 80 customers, scored 47 contracts and amassed 21 success stories, met its operational goals and set the center on a path for future service excellence in the minority of the business world.
The Nube Group is a customer of the New Mexico MBDA in Albuquerque and offers B2B and B2C services in the areas of document digitization, enterprise content management, electronic data management and sales and service of office hardware. You started working with the New Mexico MBDA in the final quarter of 2020.
“We began working with the Albuquerque MBDA to ensure official recognition of our status as a women-run minority company, to fuel our diversity and inclusion efforts, and to connect with clients who work with a women-run company like Nube wanted group “said Kelly Martinez, President and majority owner of the Nube Group. “These goals were achieved and exceeded, and we are well on the way to expanding not only nationwide, but also nationwide in the years to come.”
The New Mexico MBDA helps qualified clients access capital, identify and secure contracts, access new markets, and obtain training and capacity development support. While there are no geographic restrictions on the center’s services, it maximizes its local economic impact by focusing on contracting in high-growth sectors such as space technology, film and digital media, directed energy, smart technology and life sciences.
“As a minority-majority city and state, we recognize the importance of investing in small business owned by colored people to boost our economy and ensure we are competitive at the national level,” said Gabriela Marques, director of the MBDA center in New Mexico. “Our MBDA exists to promote equitable business opportunities and ensure underserved companies have the tools to realize their potential.”
In a letter announcing the funding, US MBDA said, “The Albuquerque City proposal demonstrated a thorough understanding of MBDA’s mission and objectives and the requirements of the Federal Funding Opportunity. In addition, their application presented a strong business development strategy and evidence of the expertise and community resources required to achieve these goals. “
Grants from the MBDA Business Center program of varying amounts were awarded to all 35 MBDA Center locations across the country. For more information on the New Mexico Center in Albuquerque, please visit https://www.cabqmbdacenter.com/.