Contact:

Carol Schuler

carol@cschuler.com

612.281.7030

FOR IMMEDIATE RELEASE 

 MINNEAPOLIS, MN (July 24, 2023) – Metropolitan Economic Development Association (MEDA) is pleased to appoint Hoyt Hsiao as Chair of its Board of Directors. Hsiao originally joined the board after being named MEDA’s 2015 Entrepreneur of the Year.

Hsiao brings over 35 years of business experience in the construction industry, including almost 15 years in his current role, President and CEO of Shaw-Lundquist Associates Inc. Hsiao takes a conservative, human-focused style in leading one of America’s largest Asian-American contracting companies. His approach translates to his influence in the community. In addition to MEDA, Hsiao serves on boards with the University of Minnesota Foundation, the Minnesota Chamber Foundation, and the Children’s Theatre Co. Hsiao holds a BS from the Carlson School of Management at the University of Minnesota.

“This is an exciting time to support MEDA and the local BIPOC community,” said Hsiao. “People need change, and MEDA is intentional to connect people with vital services that make a lasting impact. MEDA is well-positioned to continue building its earned and impactful legacy to an even greater scale, so they can assist even more BIPOC leaders.” 

 “We are thrilled to continue learning and benefiting from Hsiao’s experience and wisdom,” said MEDA President and CEO Dorothy Bridges. “We share a mission to build stronger BIPOC communities and to see MEDA as a leading resource for empowering BIPOC Entrepreneurs.” 

Hsaio succeeds the former Board Chair, Craig Veurink, who left a two-year legacy of service for MEDA. MEDA recognized Veurink for his service in the 2023 Annual Meeting and presented the 2022 Annual Report.

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About MEDA (Metropolitan Economic Development Association):

MEDA was founded by a group of Minnesota business leaders who saw BIPOC (Black, Indigenous and People of Color) 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 BIPOC entrepreneurs. Over the years, MEDA has helped launch more than 500 BIPOC businesses and assisted more than 30,000 Minnesota BIPOC entrepreneurs. MEDA operates a growing fund as a 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 from 2016-2019. For more information, visit MEDA.net.