How can IMEC assist MBE/WBEs with contract opportunities?
Ans:Copies of contract opportunities inclusive of project bid specs are forwarded to IMEC from various private sector firms, municipalities and educational institutions and are made available for MBE/WBEs to view free of charge at the IMEC office. Once an MBE/WBE has viewed the specs and decides to bid on the project then bid specs can be checked out for a more thorough review. Businesses seeking assistance are registered into the IMEC database.
What is the IMEC database?
Ans:A comprehensive database of MBE/WBEs is maintained by IMEC staff to help match contract opportunities with qualified MBE/WBEs. IMEC staff identifies various contract opportunities from public and private sector businesses. Once a match is made business owners are informed via e-mail, fax or U.S. mail.
What is a MBE/WBE?
Ans:The acronym MBE stands for Minority Business Enterprise
The acronym WBE stands for Women Owned Business Enterprise
Do I qualify as a MBE or WBE and if so who do I contact for certification?
Ans:To qualify as a Minority Business Enterprise or Women's Business Enterprise, a firm must be 51 percent owned by one of the qualifying minority groups; African American, Native American, Latino/Hispanic, Pacific Asian, and Subcontinent Asian or women who;
Possess expertise in the field
Control the business enterprise
Are U.S. citizens
For certification contact the State of Indiana Department of Administration Minority & Women's Business Enterprises at (317) 232-3061 or visit their website at http://www.in.gov/idoa/vendor.html. Applications are also available in the IMEC office.
What is the benefit of minority certification?
Ans:As a certified MBE or WBE, your company will; qualify for subcontracting opportunities on state contracts, receive notification of state business opportunities; receive access to training opportunities, receive notice of upcoming events such as networking opportunities and inclusion in the State's directory of certified firms published at http://www.in.gov/idoa/mwbe. Minority certification also qualifies you for purchasing opportunities through the casinos, state universities as well as other public and private organizations. Minority certification does not guarantee contracts but it puts a minority firm at a more competitive advantage as well as increases eligibility for additional contract opportunities.
What is DBE certification and who qualifies?
Ans:The acronym DBE stands for Disadvantaged Business Enterprise. A Disadvantaged Business Enterprise can be woman-owned, minority or a disabled veteran-owned business. It is defined as being 51% owned, capitalized, operated and controlled by a member of the aforementioned group.
The business must be a for-profit enterprise which physically resides in the United States or one of its territories. In addition, the personal net worth of each applicant must be less than $750,000, not including primary residence or ownership equity in the firm.
How can I become DBE certified?
Ans:For certification contact the Indiana Department of Transportation (INDOT) at (317) 233-0420 or visit their website at www.indot.in.gov. You may contact the IMEC office for assistance.
What is the benefit of DBE certification?
Ans:The State of Indiana Major Moves initiative which equates to multi-million dollar opportunities in road construction through the Department of Transportation (INDOT) as well as the airport authorities requires DBE certification.
What is a Surety Bond?
Ans:A bond issued by an entity on behalf of a second party, guaranteeing that the second party will fulfill an obligation or series of obligations to a third party in the event that the obligations are not met, the third party will recover its losses via the bond.
There are two main categories of bond types: Contract Bonds and Commercial Bonds. Contract Bonds guarantee a specific contract. Examples include; performance, bid, supply, maintenance and subdivision bonds. Commercial bonds guarantee per the terms of the bond form. Examples include; license, permit and union bonds
What other resources are available?
Ans:IMEC is funded by and a subsidiary of the Gary, East Chicago, Hammond Empowerment Zone which affords MWBEs access to the following resources and services inclusive of but not limited to; Loan Financing, Loan Packaging, Contract Financing, Business Plan Review & Development, Resource Library, Business Planning Courses, Computer Lab with Internet Access, Business Development Workshops & Seminars, Tax Incentives, Workforce Development Training Assistance, Business Expansion and Site Location Assistance as well as a liaison between the cities of Gary, East Chicago and Hammond and their respective departments.
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