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Minority Businesses: An Engine of Growth for American Manufacturing
Minority businesses are playing an integral part in keeping the ‘Made in America’ product strong as the U.S. manufacturing sector continues to rise. Minority-owned manufacturing firms employ 342,000 workers and have recently grown faster than their non-minority counterparts in three areas—number of firms, employees and gross receipts.
MBDA’s increased focus on manufacturers over the past few years is producing results. Just in the last three years, MBDA has facilitated more than $3.3 billion in contracts for minority-owned manufacturing firms, making manufacturing one of the top industries for MBDA clients.
A glowing example is MVP Plastics. Since 2012, the company has worked with our Cleveland and San Antonio Business Centers to identify partners and resources for growing their business domestically and abroad. The Centers were instrumental in helping the Cleveland based supplier open a new plant in Brownsville, TX as well as engage international buyers in Dongguan, China.
Expanding operations has allowed the company to hire 15 new employees and become more strategically located to its customers in Mexico. According to the CEO of MVP Plastics Darrell McNair, suppliers that are near a site for customers will become preferred suppliers. MVP Plastics is on a five-year plan that focuses on acquisitions, geographic expansion, and customer diversification. They are on track to fulfill each goal and MBDA is pleased to be a part of their journey to success.
We are very proud of the tremendous achievements of minority-owned manufacturing businesses like MVP Plastics that help grow the national economy.