At the Port Authority Board of Directors’ meeting this past June 30, I was once again able to present the annual summary report of the milestones achieved by our Minority, Women-owned, and Small Business Enterprise (M/W/SBE) program.
In 2010, despite an economy challenged by the lingering effects of the global recession, the Port Authority remained steadfast in its commitment to M/W/SBEs. Indeed, our program is one of the most respected and comprehensive in the region, thanks in large part to the participation of you, our business partners.
Here are some of the milestones achieved:
Port Authority Chairman David Samson said, “This significant increase in contracts awarded by the Port Authority to minority-owned, women-owned and small businesses has had a positive impact where it truly counts, by supporting jobs and generating economic growth in partnership with local businesses.”
Port Authority Executive Director Chris Ward said, “The Port Authority’s focus on this important issue has been an agency priority for more than a quarter of a century. This agency has demonstrated a long-standing commitment to minority-owned, women-owned and small businesses, and the success of our initiatives is clearly demonstrated by the positive results we see today.”
In addition, we proudly note that 16 M/WBEs participated in our Mentor-Protégé Program in 2010 – this brings the total number of participants to 37 since the program’s inception in 2002. A pilot initiative was designed and implemented this year for 8 firms grossing under $500 K annually. In addition, 7 protégés were awarded a total of 8 Port Authority contracts totaling approximately $4.7 million.
In 2010, we were able to offer over 20 construction management, technical, and business software courses. Our Pre-Apprenticeship Training Programs in both New York and New Jersey prepared close to 1,900 graduates for union apprenticeship programs in construction. And our WTC Business Resource Center continues to set a high standard for promoting, organizing, and hosting capacity building seminars, outreach, review meetings, and network events.
But again – and I can’t stress this enough – the real testament to the success of our programs lies with you, our certified M/W/SBE firms. We look forward to continuing to serve you, and encourage you to contact us with your questions and suggestions.
To view Lash Green’s presentation to the Board, click here.
On May 18, 2011, the Port Authority held its first Business Credit Fair at the Bank of NY Mellon’s Green Room on the 16th Floor of 101 Barclay Street in New York City. The fair attracted over 110 attendees who came to meet with 15 exhibitors including 12 lending institutions. The goal was to pair minority, women-owned, and small businesses with participating lenders such as Sovereign Bank, City National Bank of New Jersey, Accion USA, JP Morgan Chase, Women’s Venture Fund, and Sterling National Bank.
“We offer the Business Credit Fair as a complimentary session,” says Mariko Egawa, Business Development Executive for the Port Authority’s Office of Business Diversity and Civil Rights. “It turned out to be a huge success. Qualifying firms came to the fair seeking working capital, bridge loans, and equipment financing. We were able to pair them with a variety of funders -- non-profit micro-lenders, factoring firms, and commercial banks that offered many different credit instruments. Lenders met with prospective clients and discussed which credit solutions were best-suited to meet their needs.”
“We were amazed at how the credit fair exceeded our expectations,” says Corby Ellis-Mare, Public Relations Officer for City National Bank of New Jersey. “Our bank met with plenty of credible businesses that already have the experience and exposure to be successful. These companies knew what’s required to secure a business line of credit. They were ready to talk about details.”
Ms. Ellis-Mare notes that City National Bank is the only African-American owned and operated commercial bank in the New York/New Jersey/Connecticut tri-state area. “Because of our size and ties to the community,” she says, “we’re able to offer some borrowers more accommodating options than our larger-scale counterparts. And the fair wasn’t just an opportunity for us to secure possible loan applicants. For instance, while at the fair, I met one vendor – a printer – and we’ve since started doing business together, a mutually beneficial arrangement.”
Richard Lam, Assistant Vice President and Senior Business Development Officer of Sovereign Bank in Manhattan agrees. “The Credit Fair is a way to expand business opportunities for both borrowers and lenders.”
“The Port Authority’s Credit Fair is one of the best events I’ve attended,” he says. “It was a real pleasure to meet so many prospective, qualified borrowers. I took back a number of applications that day, followed up on them, and closed some deals.”
In these challenging times, it may seem more difficult than ever to secure the proper line of credit for your business needs. But instruments and lenders exist. Sometimes the only thing missing is the investment of time it takes to see what resources are available to you. Remember that the Port Authority’s Office of Business Diversity and Civil Rights is here to help. Please feel free to contact us with any questions you may have or if you wish to request for a list of lending sources, please email WTCbrc@panynj.gov.
The Janitorial Maintenance Small Business Enterprise Program (JMSBE) provides Port Authority-certified businesses with the opportunity to compete with companies of similar size and overall capacity. The program’s goal is to increase the number of certified SBEs in the janitorial maintenance field.
Over the next five years, the Port Authority's Procurement Department will award approximately 20 multi-year cleaning contracts ranging from $35,000 to $5.5 million a year to JMSBEs only. All contracts include good faith subcontracting goals of 12 percent and 5 percent for MBEs and WBEs respectively.
To be eligible, your firm must:
Certification is easy. Download the Small Business Enterprise (SBE) Certification Application.
“That’s part one of the process,” says Principal Policy Analyst Jacqueline Grossgold for The Port Authority’s Office of Business Diversity and Civil Rights. “Part two is this: once your firm is certified as an SBE, you must also participate in a prequalification process to determine your firm's eligibility to bid or submit proposals for future cleaning contracts at Port Authority facilities.”
Your firm’s eligibility to bid is determined based on your response to a "Request for Prequalification – General Cleaning and Janitorial Service" solicitation. The prequalification documents will be sent later this year to all firms certified by the Port Authority as Small Business Enterprises in the Janitorial Maintenance category.
To assist firms in presenting a clear, concise and informational response to the Request for Prequalification, we will be offering a free workshop that will provide firms with effective strategies and writing techniques including what evaluators look for in a response and common pitfalls to avoid. Details will be emailed to JMSBE certified firms in the near future.
Want to learn more about the JMSBE Program? Call us at 212-435-7819.
Save the date!
On Thursday, August 11, 2011 the Competitive Edge Conference will celebrate its 18th Anniversary by providing access to real business opportunities and resources for the M/W/D/LBE Community.
This year’s conference is being held at the Bank of New York Mellon: 104 Barclay Street, NYC 10007. (For general information regarding the conference, call: 718-395-1932. For directions, click here.)
Founded in 1993, the Competitive Edge Conference is organized by a consortium of public and private partners working together to increase its roster of qualified Minority, Women-owned, Disadvantaged and Local Business Enterprises (M/W/D/LBEs) and to create procurement and contracting opportunities for qualified firms. The Competitive Edge Conference allows M/W/D/LBEs the opportunity to network with various procurement specialists, General Contractors, and key decision makers from state and city agencies, as well as private partners. New vendors can also learn first-hand how to become certified.
Past program sponsors have included:
For more information on the 2011 Competitive Edge Conference, or to register, click here.
On Friday, May 27, 2011, members of The Port Authority of New York and New Jersey’s Office of Business Diversity and Civil Rights assisted staff from LaGuardia Community College in identifying small, minority, and women-owned businesses for the 10,000 Small Businesses Program sponsored by Goldman Sachs.
Launched in 2009, the 10,000 Small Businesses Program is a five year, $500 million initiative designed to unlock the growth and job creation potential of 10,000 small businesses across the United States through greater access to business education, financial capital, and business support services. The program operates through a national network of public and private partner organizations, including community colleges, business schools, and community development financial institutions. Currently, the initiative is active in New York, Long Beach, Los Angeles, New Orleans, and Houston. It will continue to expand to communities across the country. Community partners in the New York City area include LaGuardia Community College and Seedco Financial Services, Inc.
Port Authority representatives were able to invite their active M/WBE firms to attend an informational workshop on the Goldman Sachs program. In turn, the Office of Business Diversity and Civil Rights gains access to a ready pool of firms who are qualified to bid on Port Authority projects.
Also in late May, Port Authority representatives (including Director of the Office of Business Diversity and Civil Rights, Lash Green) attended the graduation ceremony for the second class of New York graduates of the 10,000 Small Businesses Program. Among the graduates were several firms certified as M/WBEs with the PANYNJ. Present at the ceremony were New York City Mayor Michael Bloomberg and CEO of Goldman Sachs Lloyd Blankfein, both of whom provided welcoming remarks.
Please note: in order to participate in the 10,000 Small Businesses Program, applicants must own or co-own a business that has been in operation for at least two years, whose revenue runs between $150,000 and $4 million, and which possess a minimum of four employees.
For more information on the Goldman Sachs 10,000 Small Businesses Program, please contact: Francine Iheukumere.
|"The NEW Marketing" Harnessing the Power of Facebook, Twitter, Linkedin and more...||Thursday, July 28, 2011|
|Siemens Diversity Supplier Fair||Monday, August 1, 2011|
|Boost Your Business and Brand with Web 2.0 and Social Networking||Wednesday, August 10, 2011|
|SAVE THE DATE - 18th Annual Competitive Edge Conference||Thursday, August 11, 2011|
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