|Initiative for a Competitive Inner City and Staples Foundation for Learning Announce 2010 Minority-Owned Company of the Year|
BOSTON, May 06, 2010 (BUSINESS WIRE) --The Initiative for a Competitive Inner City (ICIC), a not-for-profit organization whose mission is to promote economic prosperity in America's inner cities, together with Staples Foundation for Learning, a private foundation created by Staples, Inc., today announced that West Sacramento-based Total Team Construction Services, Inc. is the winner of the Top Minority-Owned Company of the Year on the 2010 Inner City 100. Published by ICIC and Bloomberg BusinessWeek, the Inner City 100 is an annual list that ranks the fastest growing inner city businesses nationwide.
Total Team Construction accepted the honor at the Inner City 100 Awards Dinner held on May 5th at the Boston Convention and Exhibition Center. Total Team Construction was established in 2002 after CEO Kendall Brooks and Vice President Tim Gayles used the Small Business Administration's (SBA) Mentor-Protégé program to learn about being a prime contractor. Today, the company is a leader in providing construction services to both federal and state governments, and in 2009 Total Team Construction reported revenue of $9 million. This year marks the company's debut on the Inner City 100 list.
"By recognizing minority-owned businesses like Total Team Construction, we acknowledge the extraordinary achievements of the individual entrepreneurs that lead these businesses to success," said Mary Kay Leonard, president and executive officer of the Initiative for a Competitive Inner City. "The entrepreneurial spirit and determination of these companies is motivating to businesses everywhere that are facing challenging economic times, especially those in our nation's inner cities."
Staples, Inc. has long been an advocate for inner cities, minority business ownership and entrepreneurialism. Through Staples Foundation for Learning, the company has been a key supporter of ICIC and the Inner City 100 for the past seven years. This year, Staples has renewed its support of ICIC's Inner City 100 through another $200,000 grant. To date, SFFL has contributed $1.125 million in support of ICIC and the Inner City 100 program.
"For more than 10 years, ICIC has recognized the nation's fastest growing businesses for bringing economic opportunity to America's inner cities," said Mike Miles, president and chief operating officer of Staples, Inc. "Staples celebrates the strong entrepreneurial leadership of minority-owned companies and is committed to raising awareness of the importance of a robust business sector in creating healthy, urban communities."
One-third of the companies on the 2010 Inner City 100 list are minority-owned companies and eighteen percent are woman-owned companies. Over the last 12 years, companies featured on the Inner City 100 list have collectively generated $27.2 billion in revenue and created 72,000 jobs nationwide.
About the Initiative for a Competitive Inner City
The Initiative for a Competitive Inner City (ICIC) is a national not-for-profit organization founded in 1994 by Harvard Business School professor Michael E. Porter. ICIC's mission is to promote economic prosperity in America's inner cities through private sector engagement that leads to jobs, income and wealth creation for local residents. ICIC brings together business and civic leaders to drive innovation and action, transform thinking and accelerate inner city business growth and investment. Visit www.icic.org for more information.
About Staples Foundation for Learning
Founded in 2002, Staples Foundation for Learning has contributed more than $17 million to global, national and local charities that provide educational opportunities and job skills for all people, with a special emphasis on disadvantaged youth. Staples Foundation for Learning builds lasting relationships with world-class organizations including Boys & Girls Clubs of America, Ashoka, Earth Force and the Initiative for a Competitive Inner City. The foundation is the private charitable arm of Staples, Inc. and is an integral component of Staples Soul, which recognizes the connection between long-term business success and the impact Staples has on associates, communities and the planet. For more information about the foundation and Staples Soul, visit www.staplesfoundation.org and www.staples.com/soul.