African American Chamber Sudduth Society Program

Business Highlights

SEEKING PARTNERS TO SUPPORT MINORITY BUSINESSES

By Dan Yount

The Cincinnati Herald


“Phenomenal,” “amazing,’’ “unprecedented” were words City officials used to describe the progress made over the past year in economic inclusion of minority-owned and women-owned small businesses in obtaining City contracts during an update on the City’s Minority and Women Owned Business Enterprise Program.

Mayor John Cranley said minority and women owned business contracting by the City ranged from 2 to 3 percent four years ago, but is now at 17.4 percent due to the economic inclusion push.

In year one, substantial progress has been made in achieving program goals including a sharp increase in minority and women-owned business (MBE/WBE) contracting overall when compared with previous years, he said.

Additionally, the City reports that in 2016:

•      The City awarded nearly a quarter, 24.85 percent, of outside expenditures with MBE/WBE firms.

•      $36.2 million was awarded to MBE/WBE firms.

•      The MBE 17.44 percent award percentage surpassed the program goal.

•      $8.2 million was awarded to MBE/WBE firms by contractors working on City sponsored economic development projects in 2016.  An additional $16.5 million has been committed for award in 2017.  

•      The City certified a total of 205 firms as MBE, MWBE or WBE.

“This is a vision that has become a reality,’’ said Paul Booth, a chair of the Task Force for Economic Inclusion that was formed by Mayor John Cranley in 2015 to create more opportunities in City contracting work for minorities and women business owners. “This is a milestone for economic inclusion here. We are not where we were, but we also are not where we need to be. I would like thank Mayor John Cranley, City Manager Harry Black, City Director of Community Affairs Bridget Patton, former Department of Economic Inclusion Director Thomas Corey, and the Task Force members who spent many hours on this.’’

Vincent Brown, managing partner of BRBS World, a consulting company what has provided guidance for the City's economic inclusion initiative, said many of the 37 recommendations made by the Task Force for Economic Inclusion have been implemented. “We want the City to be the best of the best in economic inclusion,’’ he added.

Brown noted that 80 MBE/WBE firms are now registered with the City, and the Department of Economic Inclusion is engaging neighborhoods and forming partnerships.

Per the Disparity Study published in July 2015, the City was proven to have a past pattern of discrimination in contracting specifically related to Minority and Women Owned Businesses. In response, on January 1, 2016, City established the Minority and Women Owned Business Enterprise Program and added a Department of Economic Inclusion.

Combining City procurement and leveraging of developer commitments, in 2016 the City helped secure $52.8 million in MBE/WBE commitments, of which $36.2 million was specifically awarded in 2016 (the balance will be awarded as the projects proceed).

This year the City awarded nearly a quarter, 24.85 percent, of its outside expenditures with MBE/WBE firms. The total 2016 MBE/WBE award including prime and subcontracting participation was $27.9 million. Of that amount, $19.6 million (17.44 percent) was awarded to MBEs and $8.3 million (7.41 percent) was awarded to WBEs across all contract types. 

During 2016, total City contract awards of $112.5 million were approved by the City Manager’s Procurement Review Team for award with mandatory inclusion goals and/or to an MBE or WBE prime contractor, or were MSD awards which included City-certified MBE and WBE subcontractors.

Also, the City works with developers to establish MBE and WBE goal commitments for City-sponsored economic development (construction) contracts that are not subject to mandatory inclusion goals. For these economic development projects, the City engages the developer to voluntarily commit to inclusion goals per project.

To date, City-sponsored economic development projects achieved a developer MBE/WBE commitment of $24.8 million, with $8.2 million already awarded in 2016 ($8.1 million MBE/$174,950 WBE). The remaining $16.5 million ($10.5 million MBE/$6 million WBE) committed will be awarded this year, providing a significant head start in 2017 versus 2016.

       This, when added to the $27.9 million awarded through the City’s in 2016, totals $36.2 million (prime/subcontract) awarded to MBE/WBE firms in 2016. When the remaining 2016 developer commitments are factored in with the 2016 amounts already awarded, the total amount generated in 2016 is $52.8 million.

In the first year of the MBE/WBE program, through vigorous outreach and engagement activities, the City has registered 205 MBE, MWBE and WBE firms. This is a critical step because without certified vendors able to do the work the success achieved to date will not be sustained. The Department of Economic Inclusion continues to engage through several outreach efforts to encourage businesses to apply for City MBE, and especially WBE certification.

Cranley said the numbers will only continue to grow. The key, however, is to certify as many firms as possible.

City Manager Black, added, “This represents a strong foundation for future success. I am certain that with the City’s continued commitment this only represents the beginning in making Cincinnati a city whose diversity in contracting matches its tremendous diversity in population.’’   

Fifth Third brings new stars and funds to Greater Cincinnati

By Herald Staff


Greg D. Carmichael, president and CEO of Fifth Third Bancorp, and John Taylor, president & CEO of the National Community Reinvestment Coalition (NCRC) made a stunning announcement in November: Fifth Third will invest $30 billion over the next five years in inner city communities in 10 states, including Ohio, to increase homeownership, boost small businesses, and empower consumers. The investment was made after the NCRC and Fifth Third Bank brought together 200 organizations in various cities to give input on community needs, and shape Fifth Third’s long-term strategy. Heading Fifth Third’s new initiative are Brian Lamb, the new chief corporate responsibility and reputation officer, and Byna Elliott, senior vice president and director of community economic development.

NCRC was formed in 1990 by national, regional, and local organizations to develop and harness the collective energies of community reinvestment organizations from across the country to increase the flow of private capital into traditionally underserved communities. NCRC has grown to an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development and vibrant communities for America's working families.

Brian Lamb

Giving back to the community has been Brian Lamb’s focus for as long as he can remember. Fifth Third’s new Chief Corporate Responsibility and Reputation Officer grew up in Tallahassee, Florida. He says his mom worked in the Department of Corrections and his dad was a school teacher. “He was a teacher and father to many,” Lamb says of his dad who also served as the high school basketball coach, mayor of the Florida city of Midway, a commissioner and member of many boards. “Growing up, I saw what ‘giving back’ looks like,” Lamb added.

After graduating from Florida A & M with a major in accounting, and being a star player on the FAM U basketball team, Lamb went to work in investment banking, specializing in mergers and acquisition. Lamb also studied at the Stonier Graduate Banking School at the University of Pennsylvania. He did not consider working for a traditional commercial bank until a member of Fifth Third’s board and a fellow FAM U alumnus approached him. Lamb joined Fifth Third in 2006 as chief financial officer of the Tampa Bay region. Before being named regional president, Lamb served as the head of Business Banking for that market. “Fifth Third is a good fit for me,” Lamb said, explaining that Fifth Third is committed to investing in the communities it serves.

Fifth Third brought Lamb to Cincinnati a few months ago to serve in the newly created role of chief corporate responsibility and reputation officer. He reports to Teresa Tanner, chief administrative officer, and will be accountable for the comprehensive strategic framework of the bank’s civic commitments and reputation management. He will oversee multiple areas, including Community Economic Development, the bank’s Community Development Corporation (CDC), Corporate Communications, Diversity & Corporate Social Responsibility and Ethics.

 “We are thrilled to name a leader with Brian’s experience and track record to this newly created and key position at Fifth Third,” Tanner said. “He brings a high degree of personal passion in serving and collaborating with the community. Brian is an outstanding banker who has produced stellar results for both the Bank and the community.”

Greg D. Carmichael, president and CEO of Fifth Third Bancorp, said, “I could not be more pleased to place Brian in this critical role. At a time when industry reputation and community commitment are paramount to our customers and stakeholders, Brian is not only a demonstrated civic leader, but also a model of personal integrity and tireless customer focus. He leads by example every day and has earned the respect of our leadership, our customers and our communities.”

Lamb discussed Fifth Third’s blockbuster announcement in November that the bank is investing $30 billion over five years in the communities it serves.  “I am excited to serve Fifth Third in an entirely new capacity and lead a team dedicated to improving the lives of those in our community,” Lamb said. “The commitment of the Company to its civic and social responsibilities has never been higher, and I am looking forward to delivering strong and positive outcomes for all of our stakeholders.”

The multi-year commitment demonstrates a higher level of focus and energy,” Lamb explains. Key areas that the bank’s investment will cover include mortgage lending, more capital to small businesses, and increased access by entrepreneurs to local banking professionals

Lamb says that the bank’s long-term strategy is being shaped by input from more than 200 community organizations in six cities that the NCRC brought together to identify community demand and needs, especially needs in inner city communities. Lamb emphasized Fifth Third’s commitment to more engagement and transparency.

Lamb has been active in a wide variety of civic activities in Florida. He serves as chair of the University of South Florida and holds board positions on the Tampa Bay Partnership, Enterprise Florida, Florida Council of 100 and Florida Bankers Association. He has been recognized on numerous occasions, including recently receiving an honorary doctoral degree from Bethune-Cookman University. This year, he was named to the Tampa Bay Business Hall of Fame.

Lamb is excited that he, along with wife Paulette and young daughters, 15-year-old Senai and 2-year-old Ava, are joining the Greater Cincinnati community.

Byna Elliott

Byna Elliott is the newly appointed senior vice president and director of community economic development for Fifth Third Bancorp in Cincinnati. In her new position, she will be supervising the bank’s landmark $30 billion, 10-state, 5-year community development plan that the bank, along with partner National Community Reinvestment Coalition, announced in February 2016.

This long-term, multi-year program that began in January 2016, provides investments in key areas such as mortgage lending, and increased access to capital and technology for small business and entrepreneurs. The Fifth Third initiative includes a significant financial and technical assistance commitment to small businesses, with $5 million available for small business lending and a $10 billion goal of direct lending to minority-owned businesses.

 Fifth Third and NCRC have been working with more than 200 organizations in six cities, including Cincinnati, in shaping Fifth Third’s long term strategy for the program.


“My responsibility is to make sure that every dime of those funds is applied to improving communities where it is being invested, and to ensuring that businesses and residents in those communities have greater access to financial services,’’ Elliott said. “The proof of our success will be in the increase in home ownership, especially in the growth in first-time homebuyers, and in the success of small businesses in those communities.’’

‘This is a historical commitment being made by a large bank, with a 5-year commitment from the top down’’ she said.  “It reflects well on Fifth Third Bank.’’ Elliott is a community reinvestment professional with over 20 years’ experience, including five years’ experience in administering all aspects of consumer compliance programs and Community Reinvestment Act initiatives.        

A graduate of Eastern Michigan University in the late 1980s, Elliott, who has a degree in accounting and finance, immediately became a bank regulator during the banking crisis, overseeing financial institutions.

She started her career in her hometown of Detroit, Michigan, at the Office of the Comptroller of the Currency in 1993 and moved into the financial services industry in 1998.  She most recently held the position of Senior Vice President, Regional Community and Economic Development Director for North Markets, which includes Eastern Michigan, Western Michigan and Chicago.

Elliott said she is very passionate in working to provide quality housing for families and closing the educational gap for youth. Her volunteer involvement in Habitat for Humanity in Michigan was statewide.

In her new position, Elliott will be involved in five statewide community stakeholder organizations, as well as a community advisory forums. She will connect with residents through community engagement meetings and through other means to determine the opportunities the bank can provide and the success of the programs.

“The challenge is getting the word out about the opportunities this huge community improvement program offers,’’ says Elliott.  “Community organizations are our true partners in helping organizations and individuals become qualified to participate in the programs.’’

While in Detroit, she was involved in several community organizations, including serving as chair of Greater Works Foundation, and a board member of

St. Joseph Mercy Oakland, Habitat for Humanity, Wayne County Development Entity, Woodstock Institute (Chicago), and the Detroit Neighborhood Forum. She is also a member of Delta Sigma Theta Sorority and Links Inc.        

Elliott is married to Anthony Elliott, who is a teacher and football coach. They have two children, Aaron, 13, and Imani, 17. She continues to be an avid reader, she said.

African American Chamber Sudduth Society Program

Byna Elliott. Photo provided

By Deborah Davis

MBAC Director

African American Chamber of Commerce

Hi Cincinnati! Welcome to Business Highlights. This month, I would like to introduce you to the Sudduth Society program and two of its participants.  Currently, Sudduth Society has six business owners who are attending weekly business classes to enhance their expertise and create strategies to grow their business.

Just a little background on the Sudduth Society:

The Sudduth Society, named after influential Cincinnati African American hotelier Horace Sudduth, is a 90-day business hyper growth program. It helps existing businesses build capacity to become the region’s next set of high-growth, minority-led businesses. A key component of the Sudduth is the African American Chamber’s Procurement Advisory Council. Participants are directly connected with the procurement teams from some of the region’s more prominent firms.  Weekly sessions are led by subject matter experts allowing the entrepreneurs to gain a deeper understanding of their businesses and explore new tactics for growth.  The program ends with a Pitch Day to the Procurement Advisory Council as well as local business and community leaders.  

Sudduth Society focuses on next level companies, that are already generating revenue.  These entrepreneurs are Cincinnati’s next set of business and community leaders which the Sudduth and the many resources of the African American Chamber, SQUARE1 and the Minority Business Assistance Center (MBAC), are utilizing to fuel their success.

For more information and to become a Sudduth Society participant, please email keith@startatsquare1.com.

To learn more about the services offered by the Minority Business Assistance Center (MBAC), please contact Deborah Davis, MBAC Director, at 513-791-9900
deborah@african-americanchamber.com

       About The Sudduth Society The program is named after Horace Sudduth, a successful Cincinnati African American businessman in the early 1900’s.   A strong supporter of progressive business thinking, Sudduth owned the Manse Hotel, a prominent area hotel known for hosting influential African American visitors such as Sammy Davis Jr. Sudduth also served as president of the Industrial Federal Savings & Loan Association, the National Negro Business League, and the New Orphanage for Colored Children of Cincinnati, among other civic organizations. 

About the African American Chamber, The Greater Cincinnati and Northern Kentucky African American Chamber of Commerce is the largest African American Chambers in the State of Ohio.  We are as committed to inclusion as we are to business development; and as focused on advocacy as we are on building capacity.  We will leverage regional partnerships and collaboration with organizations and supplier diversity and inclusion experts to empower your business to succeed. 

About SQUARE1, SQUARE1, Inc. is an entrepreneurial education and business accelerator services nonprofit providing resources to a broad range of individuals interested in turning ideas and research into business startups.  The mission is to work collaboratively to grow the ecosystem that supports their efforts.  This revolves around educational opportunities and the optimization of resources to better support individuals seeking to improve their personal situations or contribute to the growth of our community through new business creation. 

Brian Lamb. Photo provided

The Ohio Development Services Agency (DSA) is seeking partners to help develop and grow Ohio small, minority-owned and socially and economically disadvantaged businesses through the Minority Business Assistance Centers (MBAC) Program. This program supports minority-owned businesses by offering no cost counseling, state certification support, and trainings focused on creating jobs and increasing sales.

“We want to partner with business leaders who can provide the best resources to Ohio minority-owned businesses,” said Jeffrey L. Johnson, chief of the Minority Business Development Division at the Ohio Development Services Agency. “By supporting these businesses with resources needed to grow, they will be better able to create jobs and improve their communities.”

To maintain the highest quality services for Ohio minority-owned businesses, DSA will be conducting an open competition to select MBAC regional partners across the state. Non-profit organizations, economic development organizations, and educational institutions with strong experience in business and economic development will be eligible for the program.

Service areas include Cincinnati and Dayton.

The Request for Proposals (RFP) is now open until April 21, 2017, with award notifications planned for May 2017. To apply and download the MBAC RFP, visit: www.minority.ohio.gov, under “Minority Business Assistance Center.”

The MBAC program is managed by DSA’s Minority Business Development Division and is a state initiative to develop and grow Ohio’s small, minority-owned and socially and economically disadvantaged businesses. 

Business Highlights

Deborah Davis. Photo provided

By Deborah Davis

Hi Cincinnati! Welcome to Business Highlights!  This month, I would like to introduce you to the Sudduth Society program and four of its participants.  Currently, Sudduth Society has 6 business owners who are attending weekly business classes to enhance their expertise and create strategies to grow their business.

Just a little background on the Sudduth Society:

The Sudduth Society, named after influential Cincinnati African American hotelier Horace Sudduth, is a 90-day business hyper growth program. It helps existing businesses build capacity to become the region’s next set of high-growth, minority-led businesses. A key component of the Sudduth is the African American Chamber’s Procurement Advisory Council. Participants are directly connected with the procurement teams from some of the region’s more prominent firms.  Weekly sessions are led by subject matter experts allowing the entrepreneurs to gain a deeper understanding of their businesses and explore new tactics for growth.  The program ends with a Pitch Day to the Procurement Advisory Council as well as local business and community leaders.  

Sudduth Society focuses on next level companies, that are already generating revenue.  These entrepreneurs are Cincinnati’s next set of business and community leaders which the Sudduth and the many resources of the African American Chamber, SQUARE1 and the Minority Business Assistance Center (MBAC), are utilizing to fuel their success.

For more information and to become a Sudduth Society participant, please email keith@startatsquare1.com.

To learn more about the services offered by the Minority Business Assistance Center (MBAC), please contact:

Deborah Davis, MBAC Director
513-791-9900
deborah@african-americanchamber.com


About The Sudduth Society The program is named after Horace Sudduth, a successful Cincinnati African American businessman in the early 1900’s.   A strong supporter of progressive business thinking, Sudduth owned the Manse Hotel, a prominent area hotel known for hosting influential African American visitors such as Sammy Davis Jr. Sudduth also served as president of the Industrial Federal Savings & Loan Association, the National Negro Business League, and the New Orphanage for Colored Children of Cincinnati, among other civic organizations. 

About the African American Chamber, The Greater Cincinnati and Northern Kentucky African American Chamber of Commerce is the largest African American Chambers in the State of Ohio.  We are as committed to inclusion as we are to business development; and as focused on advocacy as we are on building capacity.  We will leverage regional partnerships and collaboration with organizations and supplier diversity and inclusion experts to empower your business to succeed. 

About SQUARE1, SQUARE1, Inc. is an entrepreneurial education and business accelerator services nonprofit providing resources to a broad range of individuals interested in turning ideas and research into business startups.  The mission is to work collaboratively to grow the ecosystem that supports their efforts.  This revolves around educational opportunities and the optimization of resources to better support individuals seeking to improve their personal situations or contribute to the growth of our community through new business creation. 

CITY’S MINORITY, WOMEN BUSINESS CONTRACTS SOAR

Deborah Davis. Photo provided