FY2012 North Carolina

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MBDA's Assistance Leads Firm to Business Acquisition

Core Technology Molding Corp., a plastic injection molding solutions provider, became a client of the Raleigh MBDA Business Center in 2010. The Center was a significant supporter of Core Technology Molding, advising on business valuation and giving input on prospective investments and business acquisitions.

The Center also made connections with potential investors and various financial resources. As a result of these services, Core Technology Molding secured contracts valued at over $1.1 million, relocated to a new facility, retained 10 jobs, and hired 18 new employees from surrounding communities.

"The MBDA had more confidence in me and my business model than I did. They helped extract the value so I could clearly see that I was going down the right path with my business model," said Geoff Foster, Founder and CEO.

Minority Business Community At-A-GlanceA
Business Owner Number of Firms Gross Receipts ($1000s) Average Gross Receipts Paid Employees
African American  83,919 $5,422,332 $64,614 58,100
American Indian & Alaska Native  8,024 1,100,167 137,110 8,158
Asian American  20,157 5,890,702 292,241 44,288
Native Hawaiian & Pacific Islander  451 35,122 77,876 110
Hispanic American  21,301 4,183,719 196,410 18,997
All Minority  131,728 16,108,472 122,286 129,493
 Private Sector Federal Government State Government Local Government Not Disclosed Total
Dollar Value of Contracts  $47,094,685 –  –  –  –  $47,094,685
Dollar Value of Capital  13,289,637 –  1,003,689 –  –  $14,293,326
Number of Contracts  15 –  –  –  –  15
Number of Capital Transactions  8 –  2 –  –  10
TOTAL TRANSACTIONS  23 –  2 –  –  25
  Number of Transactions Value of Transactions
Construction  5 $37,661,252
Manufacturing  1 22,659,259
Transportation, Warehousing & Public Utilities 2 887,500
Other 1 180,000


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