The U.S. Department of Commerce”™s Minority Business Development Agency (MBDA) has provided a five-year, $2 million grant to operate a national MBDA Advanced Manufacturing Center in Connecticut.
Participating businesses will work with the UConn School of Business and other technical assistance partners to access advanced manufacturing and general business assistance to meet challenges and seize opportunities.
MBDA — the only federal agency dedicated solely to supporting minority businesses ”“ issues just four such grants each year.
The Advanced Manufacturing Center will connect minority-owned manufacturers with experienced professionals to help them refine their business strategy and operations, assist with financial analysis, and connect them with Manufacturing Extension Partnership centers for deeper analysis of which advanced manufacturing services would be appropriate for that business.
Manufacturers working with the center will have access to assets and resources which can help them cut costs, increase sales, and create and retain jobs. It will also intentionally address the unique challenges these business owners face and work to provide personalized assistance.
“The expert guidance we will be providing these manufacturers will give them opportunities to expand their businesses into new markets or refine current operations to run more efficiently,” remarked Gov. Ned Lamont.
“This is a great step in support of our state”™s minority-owned businesses and in growing Connecticut”™s economy with advanced manufacturing front and center in that effort,” added Lt. Gov. Susan Bysiewicz.
U.S. Sen. Richard Blumenthal (D-Connecticut) called the effort “a monumental advancement in strengthening and expanding minority small businesses in Connecticut. After far too long without a Connecticut-based MBDA center, this collaboration, led by the UConn School of Business, together with key partners including the Connecticut Small Business Development Center, CONNSTEP, and the Connecticut Department of Economic and Community Development, will now operate an MBDA Advanced Manufacturing Center here in our state.
“Minority small businesses will have an increasingly robust role in Connecticut”™s world-renowned advanced manufacturing industry,” Blumenthal said.
The MBDA Advanced Manufacturing Center is supported by a number of key partners throughout the Northeast U.S. and Puerto Rico. In addition to those cited by Blumenthal, the partners include PRIMEX and the Maine Manufacturing Extension Partnership.
