Jim Donahue of Mario Lioderman Procurement (Center), Congressman Chris Van Hollen and Malcolm Beech, President MBC - Discuss future funding of the Capitol Minority Business Opportunity Committee

A new organization, the National Capital Minority Business Opportunity Committee (NCMBOC), has been created to foster economic growth for minority business owners in Washington, D.C., Maryland and Virginia. The result of a $200,000 annual contract with eh Minority Business Development Agency (MBDA) of the U.S. Department of Commerce, the new entity is a joint venture between the Prince George's County Economic Development Corporation, the Greater Washington Ibero American Chamber of Commerce, the Minority Business Coalition and the Hispanic Business foundation of Maryland.

The new Committee's objectives will be to (1) enhance capability and resources of minority businesses to access markets, capital, procurements, loans, bonds, venture capital and new technologies; (2) facilitate entrepreneurship business ownership opportunities; (3) encourage major public and private sector commitments to facilitate specific minority business advocacy programs; and (4) create a central organization to coordinate and document all activities and efforts in a high-quality manner.

The NCMBOC will serve as a center of influence for minority business promotion. Additionally, it will (1) identify and help wealth-creating and economy-stimulating opportunities within the minority business sector; (2) disseminate wealth-building information tot he minority community; (3) identify barriers to growth and develop strategic solutions for overcoming these barriers, particularly in the areas of capital, management and markets; (4) serve as a community advocate for the full inclusion of minority businesses in the economic life of the community; (5) serve as a mentoring entity for minority businesses; and (6) serve as a strategic partner to blend core competencies and leadership capabilities of NCMBOC membership with the complementary strengths and capabilities of minority businesses.

Ronald Langston, Director, MBDA and W. Ronald Evans, Chair, MBC

In addition to the joint ventures, the NCMBOC will have a Steering Committee composed of universities, utilities, financial institutions, government contractors, manufacturers, federal and local government agencies, trade associations, community development organizations, minority business enterprises (MBEs) and others. The Committee will employ a full time staff consisting of an Executive Directory, three part-time Program Managers and Administrative Support from the co-sponsoring organizations. Additional consultants and technical support will be provided as needed.