AEDC Receives 2024 EDO Award for Business Certification Program

The Arkansas Economic Development Commission (AEDC) has received a 2024 Economic Development Organization (EDO) Award from Business Facilities magazine for its Minority and Women-Owned Business Enterprise Certification Program.

In 2023, AEDC certified 50 businesses as minority and women-owned business enterprises through the certification program; this was a year-over-year increase from 2022, when 34 businesses were certified. There are currently 341 MWBE-certified businesses in Arkansas.

The EDO Awards are designed to recognize economic development organizations throughout the United States for innovative programs that are making an impact – driving capital investment, job creation, or improvements in quality of life – in their area. For the 2024 awards, Business Facilities presented 24 EDO Awards in five categories: State, Utility, Large, Mid-Sized, and Small EDO.

“Supporting the growth of minority and women entrepreneurs is vital for growing our state’s economy and creating jobs and new opportunities in Arkansas,” said Esperanza Massana Crane, director of AEDC’s Small Business and Entrepreneurship Development Division. “Our Minority and Women-Owned Business Enterprise Certification Program plays an important role in providing resources and access to entrepreneurs so they can take their businesses to the next level.”

AEDC was one of six state economic development organizations to receive an award in 2024.

“The 2024 entries spanned a broad range of organizations and strategies, reflecting the importance of vision and teamwork when it comes to achieving economic growth,” says Anne Cosgrove, Editorial Director of Business Facilities. “While the organizations nominated vary by size and scope, their innovation and resourcefulness shone throughout all the winning entries. From workforce development to tech ecosystems and housing issues, the ideas represented focus on the dynamic nature of economic development and corporate site selection.”

The Minority and Women-Owned Business Enterprise Certification Program is a program administered through the Minority and Women-Owned Business Enterprise Division, part of AEDC’s Small Business and Entrepreneurship Development Division. The program is designed to increase opportunities for minority and women-owned businesses to sell products and services to the State of Arkansas, and it provides additional benefits, including notification of training events, workshops, and networking and educational opportunities.

To be eligible for the certification, a business:

• Must be at least 51 percent minority or women-owned, operated and managed on a daily basis.
• Must have been in operation for at least two years prior to applying for the certification.
• Must have a legal presence (license) to operate in Arkansas.
• Must be a for-profit business and generate less than $10 million in revenue.

The majority owner(s) must

• Be a legal permanent resident(s) of Arkansas.
• Be a U.S. citizen(s).
• Be a member of a designated group – African-American, Hispanic-American, American Indian, Asian American, Pacific Islander, Service-Disabled Veteran, or female.

Become a Minority and Women-Owned Certified Business today. Click here to learn more and get certified.