IEDC boosts entrepreneurship through grant awards

INDIANAPOLIS — The Indiana Economic Development corporation just awarded over a million dollars in Community Connection grants. Last year they gave away a half a million dollars but saw so much interest and growth they doubled the amount of money they gave away this year.

In total, there were 80 applicants and 32 grants were awarded.

One of the recipients in central Indiana was Mid-States Minority Supplier Development Council. They will use the money to help minority owned construction companies have the tools they need to get more opportunities to bid on projects that will help them grow their business.

"Not enough,” Daryle Johnson with Mid-States Minority Supplier Development Council said.

That was his response when asked how many minority contractors are getting big bids in central Indiana. Something the organization hopes to change by addressing barriers they regularly see.

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"To be competitive on the pricing, to make sure that you don't have so much risk priced into your bid that you are no longer competitive,” Johnson said. “I would also say that gaining access to those that you can partner with so that you can scale and grow."

According to Mid-States most recent impact report , when minority suppliers are given opportunities, it pays off.

In 2021, Mid-States’ Minority Business Enterprises (MBE’s) had $19.1 billion in revenue, $23.6 billion GDP contribution, 63,000 jobs were created or maintained and Certified MBE’s created nearly $4.1 billion in salaries, wages and benefits to 33,400 employees.

The organization will use grant money to address the issues they see the business face regularly. Nearly $40,000 will be offered for construction management classes.

"There were no women in 1999 when I started in construction," Akilah Darden the Founder of Darden Group LLC said. “No women, no minorities, no minority women. So you didn't have anyone you could go to.”

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Darden has worked on multi-million dollar projects. Now thanks to the Indiana Economic Development Corporation, she can partner with smaller construction companies offering her expertise to help them scale and grow.

"Entrepreneurs need to know more than hands on work in place here is the service I provide,” Darden said. “How do we operate a business, and we are touching the business from the operational and administrative portion.

Opportunities like this are why the IEDC will award grants in the future because entrepreneurs are vital to Indiana’s economy.

"Nearly half of Hoosiers work at a small business,” David Watkins with the IEDC said. “So the health, the well-being, the growth, the success of our small businesses directly ties to economic growth for the state of Indiana."

The IEDC does plan on awarding these grants again next year. You can find out more about other entrepreneurial outreach opportunities they have by clicking here.