CINCINNATI USA REGIONAL CHAMBER OF COMMERCE: Cincinnati Minority Business Accelerator Announces $5M J. Phillip Holloman Endowment Fund, Honors 2018 Accelerator Champions at CLIMB Awards


Cincinnati USA Regional Chamber of Commerce issued the following announcement on Dec. 13.

The Cincinnati USA Regional Chamber’s Minority Business Accelerator (Accelerator) honored its 2018 Accelerator Champions and introduced the new J. Phillip Holloman Endowment Fund at the inaugural CLIMB (Cincinnati Lifts Inclusion and Minority Business) Awards, December 12 at the Renaissance Hotel.

The J. Phillip Holloman Endowment Fund, which has an overall goal of $5 million, will create sustainability for the Minority Business Accelerator to continue its work of accelerating the development of sizable minority business into the future. The Fund promises to bring additional visibility, awareness and collaboration to high impact economic inclusion initiatives driven by the Accelerator, further positioning the Accelerator on a national platform.

The J. Phillip Holloman Endowment Fund, is named to honor the work of Phillip Holloman, a retired president and COO of CINTAS. He served as chair of the Accelerator from 2015-2016. Additionally, he has served as a board member for the Urban League of Greater Cincinnati, as a board member for the University of Cincinnati Business School and College of Engineering and Applied Sciences, on the Executive Committee of the Board of Directors of the Cincinnati Center City Development Corporation (3CDC), on the University of Cincinnati Foundation’s Diversity and Inclusion Advisory Council, and on the Advisory Board of the Middletown, Ohio Teen Mentoring Program.

“I’m grateful for this recognition and urge all to recognize the great and groundbreaking work of the Accelerator,” said Mr. Holloman. “Having a fund like this helps with the sustainability of the Minority Business Accelerator and the sustainability of being able to provide funds to those companies that are trying to make that breakthrough to the next level.”

“This fund signals sustainability, perpetuity and commitment,” said Darrin Redus, Cincinnati Chamber vice president and leader of Cincinnati’s Minority Business Accelerator. “We’re fortunate to have Phillip Holloman in the Cincinnati region and I can’t think of a better person to have our endowment fund named after.”

“Through its long-term commitment to an inclusive regional economy, the J. Phillip Holloman Endowment fund will serve as a strategic and catalytic investment to attract and retain diverse talent and businesses in the Cincinnati Region, said Scott Robertson, chairman of the RCF Group and chair of the Minority Business Accelerator Leadership Council.

Additionally, the 2018 Accelerator Champions were honored. They are:

Goal Setter of the Year – Cincinnati Children’s Medical Center

Cincinnati Children’s Hospital Medical Center (CCHMC) is transforming our regional economy with a $600 million Critical Care Building. This development accompanies other projects, including Location-T building and the Liberty project, which exceeded supplier diversity goals.

The hospital works with community partners to keep supplier and workforce diversity as a strategic goal. It has committed $11.5 million dollars of program support and community development to Avondale alone. Its Supplier Diversity Initiative, which includes both construction and purchased services, reached a seven-year total of $406.5 million in spend.

Pace Setter Award – HYUR Staffing Services

Over the past two years, HYUR Staffing Services has grown its annual revenue by nearly 50 percent and nearly tripled the size of its workforce. The company has created a culture of diverse, passionate and dedicated professionals who are committed to helping their clients grow.

HYUR Staffing Services’ unique position within the industry and its in-depth understanding of the marketplace, coupled with its goal-oriented management philosophy, has fueled the organization’s growth.

Innovator of the Year Award – ConnXus

ConnXus powers sustainable global supply chains through a suite of software solutions designed to give procurement professionals, diverse suppliers and small businesses the tools they need to innovate, source, track and connect. The company combines all procurement functions of supplier risk, sustainable sourcing, supplier relationship management, supplier diversity and supplier development in one place.

In partnership with the Accelerator, ConnXus offers services to Goal Setter companies to help them streamline and optimize supplier diversity strategies and solutions. This collaboration with the Accelerator further positions the Cincinnati region as a national model for minority business development and inclusion, cementing our regional efforts as a national best practice.

Community Impact Award – Jostin Construction

Jostin Construction exemplifies the far-reaching impact of minority business success in the community. The company continues to grow top line revenues and bottom line profitability at a healthy 20 percent, leveraging this success to facilitate employment opportunities for over 500 returning citizens who were previously incarcerated.

Jostin Construction provides the necessary soft skills and workforce training that prepares returning citizens for sustainable careers. By maintaining a large percentage of returning citizens as a regular part of its ongoing operations, the company has become a pipeline of opportunity.

Capacity to Excel Award – (tie)

Environmental Services & Solutions and Elevar Design Group

Environmental Services and Solutions (ESS) financial turnaround places it on a solid path to success. ESS’s story validates the ageless principles of creating a strategic plan and knowing your financial numbers from top to bottom.

One of the key catalysts in engineering this financial turnaround was to strategically restructure the company’s debt. With the help and support of the Accelerator, ESS secured $175,000 from the L. Ross Love GrowthBridge Fund, which enabled ESS to break collateral holds, rebuild its balance sheet and solicit offers from regional and national financial institutions.

Elevar Design Group is taking strategic steps to excel over the next 50 years. The company has added 32 staff members, including architects, engineers and designers. This readiness is paying dividends in new awards, including Elevar’s central role in FC Cincinnati’s new stadium construction.

Elevar is the combination of three separate design firms, each with its own specialty and established practice. These companies came together as Elevar Design Group in 2018 to elevate or, in Spanish, Elevar, design and client satisfaction to new heights.

Original source can be found here.

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