The Minority Contractor Capital Access Program (MCCAP), administered by the Akron Urban League, has become a driving force behind economic growth and empowerment in the community. Through its unwavering commitment to supporting minority contractors, MCCAP has achieved remarkable success in fostering job creation, contract acquisition, and overall economic prosperity. Let’s delve into the astounding achievements of MCCAP participants during the 2nd Quarter of 2023, highlighting the program’s transformative impact on the local economy.
- Empowering New Entrepreneurs:
During the 2nd Quarter of 2023, the 13 MCCAP participants collectively achieved a significant milestone by creating 21 new jobs. These aspiring entrepreneurs, armed with essential skills and mentorship from the program, ventured into various sectors, contributing to the growth of the local job market and breaking barriers in their fields.
- Triumph through Contract Wins:
The MCCAP participants demonstrated their business prowess by securing 48 new contracts during the same quarter, amounting to an impressive revenue of more than $381,800.61. This success highlights the program’s commitment to supporting minority contractors in accessing opportunities and expanding their businesses.
- Empowering Graduates:
Continuing the tradition of success, the 7 MCCAP participants who graduated in 2022 achieved remarkable milestones during the 2nd Quarter of 2023. Collectively, they created 7 new jobs, further contributing to the region’s employment landscape. Additionally, their achievements in securing 13 new contracts brought in revenue of more than $707,000.00, demonstrating the program’s lasting impact on the growth of minority-owned businesses.
- A History of Empowerment:
Since its inception, the MCCAP program has continually made a substantial impact on the local economy. With a total of 20 participants accepted into MCCAP, their combined efforts have led to the creation of an impressive 137 new jobs. This sustained commitment to job creation empowers individuals and contributes significantly to reducing unemployment rates within minority communities.
- Economic Growth and Revenue:
The most remarkable feat of MCCAP lies in the program’s ability to empower participants to secure more than 310 new contracts, resulting in a staggering revenue of more than $6,883,708.68. This immense financial injection into the local economy benefits the participants and fosters overall economic growth, leading to a stronger and more inclusive community.
The Akron Urban League’s Minority Contractor Capital Access Program (MCCAP) stands as a shining example of how dedicated mentorship and support can lead to transformative success for minority contractors and the community as a whole. Through job creation, contract acquisition, and economic growth, MCCAP continues to break barriers and create opportunities for minority-owned businesses. As the program sustains its commitment to empowerment, the community can look forward to a brighter, more inclusive future filled with thriving entrepreneurs and economic prosperity.