Export Assistance Leads to $1 Million Contract
TIG/m, LLC is a California railcar manufacturer founded by Alvaro Villa in 2005, which generates 100% of its revenue from exports. Since becoming a MBDA client in 2010, TIG/m has doubled its annual revenue and is positioned for exponential growth in FY2013.
Mr. Villa was interested in bidding on a contract to build railcars for the government of Aruba when he asked the Los Angeles MBDA Business Center for help demonstrating to Aruban officials that TIG/m had the capacity they needed. The Los Angeles MBDA Business Center obtained a letter of recommendation based on past performance from the Mayor and TIG/m was awarded a $1 million contract to build a railcar for export to Aruba.
Subsequently, when the government of Aruba required bonding, the Los Angeles MBDA Business Center brokered a letter of credit from Commercial Bank for 10% bonding, enabling TIG/m to bid on the project, which it ultimately won. Fifteen new jobs were created and 10 retained as a result.
|Minority Business Community At-A-GlanceA|
|Business Owner||Number of Firms||Gross Receipts ($1000s)||Average Gross Receipts||Paid Employees|
|American Indian & Alaska Native||ï»¿45,569||4,648,919||102,019||20,813|
|Native Hawaiian & Pacific Islander||ï»¿9,174||1,136,638||123,898||5,987|
|MBDA CLIENT ASSISTANCE BY SECTOR|
|ï»¿||Private Sector||Federal Government||State Government||Local Government||Not Disclosed||Total|
|ï»¿Dollar Value of Contracts||$70,786,679||$20,822,663||$5,128,851||$18,110,930||$12,556||$114,861,680|
|Dollar Value of Capital||116,299,332||1,500,000||560,000||8,500,000||–||$126,859,332|
|Number of Contracts||79||21||6||10||1||117|
|Number of Capital Transactions||450||1||2||3||–||456|
|ï»¿MBDA CLIENT ASSISTANCE BY INDUSTRY|
|Number of Transactions||Value of Transactions|
|ï»¿Agriculture, Forestry, Fishing & Hunting||8||$9,688,583|
|Finance, Insurance & Real Estate||9||32,384,622|
|Transportation, Warehousing & Public Utilities||7||3,573,500|