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2009 MEDA
Accomplishments
MEDA's outcomes for 2009:
- 502 clients served; 194 new to MEDA in 2009
- 136 clients received more than 3.5 or more hours of service
- 12,657 hours of client service provided
- 11 small group training sessions, 64 workshops
- 7 MEDA-assisted start-ups created 32 new jobs with a projected $2.4 million in first year revenues
- 15 active high potential Pacesetter clients
- 13 active partnerships working on private/public projects through the MEDA Construction Partnering Program (CPP)
- A web-based MEDA Plan Room for access to construction project plans
- 23 active mentoring relationships
- $1,225,600 in financing approved
- 585 government contracts totaling $129 million in awards to entrepreneurs of color
- 3,664 volunteer hours augmented our capacity to serve our clients
Return on Investment
Based on the value of new jobs created through business starts, loan portfolio clients and Pacesetter job growth, MEDA returns a minimum of $11 of economic impact for every $1 invested.
Economic Impact of Entrepreneurs of Color
Each year, MEDA collects economic impact data from our community of entrepreneurs of color. The 2008 impact data reflected the vital statistics of 176 responding companies and a comparison of 117 which also responded the prior year. These statistics demonstrate the impact minority business ownership has on our community. (The 2009 survey numbers will be available in April 2010.)
- Total Sales: $1.06 billion (11% increase over 2007)
- Total Employment: 4,146 (10.5% increase)
- Total Minority Employment: 2,378 (8.5% increase)
- 69% said they provide health care benefits to their
full-time employees
- 80% of their workforce are paid $12.00 or more per hour plus benefits
- 84% of clients report volunteering in the community
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MEDA Helps Couple Open Wild Bamboo in Pine City 
Long Vo, owner and chef (pictured with his wife Tammy) brings his French culinary influence to the Wild Bamboo Restaurant, located at 610 8th Avenue SW in Pine City.
Long and Tammy came to MEDA in the fall of 2009 for consulting and loan financing. The grand opening of Wild Bamboo was January 14th to a welcoming Pine City crowd. "Whatever we needed or whatever we couldn't find MEDA was there to help" said Tammy. "We have never worked with such honest and hard working people."
The Wild Bamboo features favorites such as spring rolls, fried chicken wings, stir fry vegetables, and fried rice. In addition they serve an array of sophisticated Vietnamese dishes with French cuisine influence like asparagus with crab meat soup, and Long's special house salad-shredded cabbage, carrots, celery, mint leaves, and peanuts, lightly tossed in Long's unique house dressing.
The combination of outstanding food, wine selection, warm friendly atmosphere, and excellent customer service will make Wild Bamboo a Pine City destination for the Twin Cities' most selective palates. Hours of operation are Monday through Saturday 11 AM to 9 PM.
In 2009's hard economic times MEDA, assisted seven startup companies in five different cities. We offer valuable business consulting and intensive training services to grow and strengthen businesses. In return, these businesses create thriving local communities through job growth and a new tax base. We focus on long term consulting relationships which nurture entrepreneurs as they build futures for themselves, their families and their businesses.
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Lunch with An Executive (EDS Series) Starts February 16th. 
This is a great opportunity for you to interact with CEOs, corporate leaders and successful entrepreneurs who are willing to share their experiences and expertise on leadership and management approaches that work.
Bruce Engelsma Chairman & CEO Kraus-Anderson Companies, Inc.
and John Stout Vice President and Shareholder, Fredrikson & Byron, P.A. and Holiday Companies Board Member.
They will discuss family businesses and succession planning.
Click here to register online or call MEDA at 612-332-6332.
Location: Minneapolis Club
Time: 11:15 a.m. to 1:00 p.m.
Cost: $35 limited to 25 entrepreneurs of color
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| MEDA Fundraiser: Private Showing of General Mills Art Collection - February 18
Join us for a private showing of General Mills fabulous art collection. Your tour guides will be curator, Don McNeil, and Vice President of World Wide Sourcing, Tim Coats.
Artists Include:
Jim Dine
David Hockney
Jasper Johns
Roy Lichtenstein
Robert Mapplethorpe
Date:
Thursday February 18, 2010
4 p.m. Tour begins
5:15 p.m. Discussion, wine and hors d'oeuvre
Only a few openings left! To register, please call Ellen Orndorf at (612) 259-6562.
Cost: $50
All proceeds benefit MEDA and our programs and services, helping entrepreneurs of color succeed!
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Upcoming Events
February 4, 2010
Doing Business with the Corps of Engineers Mankato, MN
February 9, 2010
Doing Business with the State of Minnesota
Brooklyn Park, MN
February 11, 2010
Selling to the Federal Government: Successful Strategies
St. Paul, MN
February 17, 2010
Doing Business with the Corps of Engineers
Marshall, MN
February 24, 2010
Introduction to Government Contracting
Roseau, MN
February 24, 2010
Doing Business with the Corps of Engineers
Roseau, MN
February 25, 2010
Introduction to Government Contracting
International Falls, MN
February 25, 2010
Doing Business with the Corps of Engineers
International Falls, MN
February 25, 2010
Develop Winning Government Marketing Materials
Lunch with an Executive
Executive Development Series
February 16, 2010
Lunch with Bruce Engelsma Chairman and CEO, Kraus- Anderson and John Stout, Vice President and Shareholder, Fredrikson and Byron, P.A. at the Minneapolis Club
Cost: $35
Registration: Online or call (612) 332-6332
Private Showing General Mills Art Collection
February 18, 2010
Private showing of General Mills art collection
Cost: $50 per person
Registration: Contact Ellen Orndorf at (612) 259-6562
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Thank You To Our General Operating Supporters in
December and January
Anthony & Stacy Abena
Sara Baker
Burdick- Craddick Family Foundation
Candace Campbell
Yvonne Cheung Ho
Jean Cole
Bruce Corrie
Jeanne Crain
Vance C. DeMong Charitable Trust
Faegre & Benson Foundation
Jim Faricy
Burt and Kaye Fealing
Peter Glass
Esperanza Guerrero-Anderson
Carl Jones
Jan Jordet
Sherri Komrosky
Larkin Hoffman Daly & Lindgren
Lawrence Auctioneering
Lotus Fund of Minneapolis Foundation
Minneapolis Foundation
MSP Communications
Joe Peabody
Piper Jaffray - Bobby Piper Community Leadership Program
Ricardo & Jo Robles
SIT Investment Associates Foundation
John Stout
Tim Wagner
Xcel Energy
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