MINNEAPOLIS (June 20, 2019) – The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) named Meda (Metropolitan Economic Development Association) the top performing MBDA Business Center in the nation for the fourth consecutive year. They were also awarded for the Highest Dollar Amount in Contract/Procurement reaching $4.02 billion in the past year. These honors were announced at MBDA’s annual National Training Conference in Detroit, Michigan.
“I am so proud of all the work we have done and honored to be recognized for that work for the fourth time” Gary L. Cunningham, Meda President & CEO, remarked. “These honors are thanks to the remarkable minority business owners Meda represents and the expertise of our wonderful staff. We, at Meda, are constantly trying exemplify and uplift the perseverance, tenacity and determination of the entrepreneurs we work with, and these honors highlight our collective success.”
In 2018, Meda served 974 minority businesses while helping organize 12 mergers and acquisitions. Meda obtained $17.2 million in financing, which created or retained 3,644 jobs. Also in the last year, Meda launched the Million Dollar Challenge, the largest minority-exclusive entrepreneurial pitch competition in the nation.
Dr. Barbara Butts Williams, Chair of the Meda Board, added, “These awards are a reminder that the work we are doing matters. These minority entrepreneurs are incredibly deserving of all of their successes, and these awards are another chance to celebrate the work we have done together to elevate our community.”
About the Metropolitan Economic Development Association (Meda)
Meda was founded by a group of Minnesota business leaders who saw minority business ownership as a positive, long-term response to rising economic inequity within minority communities in our state. Meda provides business development services, access to capital and corporate and governmental market support for minority entrepreneurs. Over the years, Meda has helped launch more than 500 minority businesses and assisted more than 20,000 Minnesota minority entrepreneurs. Today, Meda clients employ 6,000 Minnesotans and have a combined annual revenue of $1 billion. Meda operates a growing Community Development Fund Institution (CDFI) that provides needed capital for minority businesses to become sustainable. Meda is also the host organization for the Minneapolis Minority Business Development Agency (MBDA) Business Center, which has been recognized by the MBDA as the top performing center four consecutive years. For more information, visit meda.net.