Raleigh, NC Governor Roy Cooper proclaimed October 2022 as Minority Enterprise Development Month to acknowledge the outstanding achievements of North Carolina minority businesses, corporations, and financial institutions. In celebration, the NC Department of Administration's Office for Historically Underutilized Businesses (HUB) will be among the many agencies and organizations across the state hosting events to honor small, minority, and women-owned businesses throughout the month.
"Historically underutilized businesses drive innovation and strengthen our state's economy,"
said Governor Cooper. "We'll continue working to provide the resources and educated workforce that these businesses need to succeed."
"Historically underutilized businesses contribute to our state's diverse entrepreneurship and are vital drivers to our state's economy,"
said Administration Secretary Pamela B. Cashwell. "It is my hope that as we celebrate their achievements, we remain supportive of these businesses as they continue to recover post-pandemic."
North Carolina is home to more than 234,000 businesses owned by minorities according to the U.S. Department of Commerce's Minority Business Development Agency. These businesses achieve more than $16.1 billion in sales each year. However, many of these businesses were disproportionately impacted by the COVID-19 pandemic.
In support, Governor Cooper issued Executive Order 143 in 2020, providing small historically underutilized businesses with access to opportunities, tools, and resources that promote equitable economic recovery and procurement of state contracts. Under the Executive Order, the NC HUB Office spearheaded the small business grant program, RETOOLNC, in partnership with the NC Department of Transportation, NC Institute of Minority Economic Development and the Carolina Small Business Development Fund to aid the state's HUB and Disadvantaged Business Enterprise (DBE) firms post-pandemic.
To date, the program has distributed more than $37 million to HUBs and DBEs across the state. Thanks to statewide support, spending with HUB firms for state construction projects, goods and services reached a 10-year high during the past fiscal year. The NC Minority Business Development Agency Business Center has worked to secure over $79 million in federal, state and local contracts for HUBs since it opened October 2021. As a result, more than 450 jobs have been created or sustained.
This year, the NC HUB Office will host a reception in Raleigh for HUBs and DBEs on Oct. 17, followed by a MED Month Expo at NC State's McKimmon Center on Oct. 18 featuring keynote speakers and informational sessions.
To learn more about HUB's and available resources, visit the NC HUB Office website.
- NCDOA Communications
- Department of Administration
- 116 W. Jones Street
- Raleigh, North Carolina 27603