USC Program for Local Entrepreneurs Generates More than 400 Jobs
Bridges to Business Success is a public-private collaboration between USC, Citi Community Development, the L.A. Mayor's office, and other key partners that certifies and trains minority business enterprises on contract bidding and business expansion.
(Media-Newswire.com) - In just two years, the Bridges to Business for Success has helped 100 minority small business owners:
• Obtain 209 construction contracts totaling $11.2 million. • Create more than 400 new jobs. • Secure more than $600,000 in capital financing.
The graduates of the program will be recognized by city officials at a ceremony at USC’s Town and Gown on Tuesday, March 4, at 4 p.m. USC and Citi Community Development will also announce the expansion of the program to focus on veteran-owned businesses.
Bridges to Business Success is a public-private collaboration between USC, Citi Community Development, the L.A. Mayor’s office, and other key partners that certifies and trains minority business enterprises on contract bidding and business expansion. Business owners have received training, technical assistance, minority certification and other resources to help them more effectively compete for government and private sector contracting opportunities.
“As the largest private employer in Los Angeles, job creation is a high priority for USC,” said Thomas S. Sayles, Senior Vice President of University Relations. “The Bridges to Business Success program is quickly becoming a model program that strengthens workforce development by securing job creation, retention, and economic vitality in our communities.”
Bridges to Business Success also helped revitalize distressed neighborhoods, impacted by foreclosures, by rehabilitating 25 homes and making them available for purchase by low to moderate income first-time home owners through the City of Los Angeles Housing Department.
“Los Angeles County has by far the highest concentration of minority-owned small businesses in the country – more than 466,000, according to the latest Census data” said Bob Annibale, Global Director of Citi Community Development and Microfinance. “By empowering these businesses to obtain minority-owned business certification and compete for significant city procurement contracts, this innovative program will enable more such small businesses to access new opportunities, grow and create jobs.” _____
ABOUT USC IN THE COMMUNITY: The University of Southern California has been a proud and active member of its community since 1880. USC believes its strength as a great university depends on its ability to be a good neighbor. USC is dedicated to supporting healthy, vibrant and engaged communities around its University Park and Health Sciences campuses. To this end, USC supports families and youth, promotes small business development and economic growth and instills in its students a profound commitment to participate in civic life.
•USC invests $35 million annually to support community initiatives, serving 40,000 community members. •USC students, staff and faculty devote more than 650,000 hours in the community. •The USC Neighborhood Academic Initiative, an intensive college prep program, sends 100 percent of its students to college, with nearly half getting full-tuition scholarships to USC. •USC has adopted 15 neighborhood elementary, middle and high schools as part of its Family of Schools program, sharing with these schools its students and educational resources. •USC’s local hire program puts $5 million in annual salaries back into the neighborhood. •USC taught 60 small business owners the skills to obtain $61 million dollars in capital, contracts and loans. •USC has more than 3,000 children in college access programs and more than 500 children in pre-school programs. •The USC Good Neighbors Campaign raises more than a $1 million in donations every year for community programs through staff and faculty donations.
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