Purpose:

To leverage diverse manufacturing and logistics suppliers’ (suppliers) capability improvement and capacity expansion to create jobs and foster economic development in impacted urban communities 

Target Audiences for Job Retention, Creation, and Skills Upgrades:

  • Individuals who are unemployed or underemployed with demonstrated financial need
  • Individuals who earn no more than 200% of the federal poverty guideline for a household of their size

 

Small and Midsize Supplier Participation Criteria

  • Suppliers must be engaged in the DMSCA Corporate Mentoring Program
  • Suppliers must further demonstrate how they
    • Improve manufacturing and production capacity 
    • Foster job creation and workforce training opportunity 
    • Contribute to the overall community economic development impact

Type Foundation Projects:

  • Workforce training and skills upgrading 
  • Operational digitization and advance manufacturing training
  • Operational digitization resources and equipment funding
  • Collaborative programs with Historically Black Colleges and Universities (HBCUs) and other Minority Institutions (MIs)
  • Urban Manufacturing projects
  • Supplier capacity expansion

Supplier Capacity Expansion – The Foundation has created a fund called the “Urban Manufacturing Economic Development Fund (MEDF) for the specific purpose of partnering with private and public financial organizations to support supplier capacity expansion through:

  • Mergers and Acquisitions
  • Minimization of non-minority enterprises
  • Collaboration between suppliers 
  • Debt and Equity capital matching

Fundraising Goal: (does not include supplier capacity expansion)

  • $3M -$5M by December 31, 2021

Types of Contributions:

  • Corporate Member Foundations
  • Non-Corporate Member Foundations 
  • Government Grants and Contracts
  • Private Foundation Grants
  • Annual Fund Campaigns
  • Individual Contributions

Current Projects:

  • Diverse Manufacturing Suppliers “Digitization Acceleration” 

Additional Information and Presentation: