Mid-States Minority Supplier Development Council Hosts 48th Annual Procurement Conference

Under new leadership, Mid-States MSDC aims to strengthen collaboration between organizations and minority-owned businesses.

For IMMEDIATE Release

Under the leadership of the organization’s newly appointed President and CEO, Dr. Demetrius Glover, and Board Chair, Leviticous “Vic” Cleveland, Mid-States MSDC aims for significant growth in 2024. Both leaders say the Mid-States MSDC region is primed for the economic growth that strengthened supplier diversity efforts can spur.

“People too often think of supplier diversity as a feel-good measure that’s distinct from a company’s bottom line,” Dr. Glover said. “When, in fact, diversification of suppliers and vendors can create significant financial and economic upsides for corporations and communities alike, while addressing inequities at the same time. We’re in the business of building win-win-win scenarios, brokering relationships that become a win for the supplier, a win for the company and, ultimately, a win for the broader community.”

Cleveland, who was recently appointed as Board Chair of the organization, agrees.

“Attracting new business from outside the region isn’t the only way to continue building Midwestern economies,” Cleveland said. “Robust supplier diversity programs can be a very effective economic development tool for governors, mayors and corporate leaders to add to their toolbelts.”

For nearly five decades, the Mid-States MSDC Procurement Conference has spearheaded the growth of regional MBEs, while striving to alleviate challenges faced during certification and corporate scaling. Through educational immersion and collaboration, this year’s attendees will contribute to the longstanding foundation of Mid-States entities addressing barriers within their respective industries.

Research from a 2020 report by the Brookings Institution highlight this disparity. The report found that if the number of Black-owned businesses matched the size of the Black population in the U.S. (2.2% versus 14.2%, respectively), and the average size and revenue of those businesses matched the averages for non-Black business owners, it would add $5.9 trillion and more than 19 million jobs to the U.S. economy. It would also amount to an additional $25 billion for the workers employed by Black-owned firms.

More recently, a 2023 report by the Stanford Latino Entrepreneurship Initiative found that Latinos have created companies faster than all other demographic groups in the U.S. It also found that compared to white-owned businesses, Latino-owned businesses grow revenues and create jobs at faster rates for all Americans. However, the researchers also reported that Latino-owned businesses face “alarming impediments” in accessing capital and securing corporate and government contracts – even “when they are equally, or even better, qualified across a broad array of business metrics,” mirroring the challenges faced by Black-owned businesses.

“Addressing those impediments is why we do this work,” Dr. Glover said. “It’s what Mid-States MSDC exists to do.”

For more information about Mid-States MSDC or to register for the event, please visit www.midstatesmsdc.org.

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