Office of Business INClusion Releases Historic FY 2023 Annual Report

Published on October 07, 2024

CHARLOTTE, N.C. (Oct. 7, 2024) – The City of Charlotte is pleased to announce the release of the Fiscal Year 2023 Annual Report for the Office of Charlotte Business INClusion (CBI), where a record $2.85M of city funds went to new and increased bond contracts with local Minority, Women, and Small Business Enterprises (MWSBEs). 

The theme of the FY 2023 report is "Building Bridges to Prosperity,” which symbolizes the enthusiasm across city staff in their dedication to bridge gaps, foster collaboration, and drive sustainable growth within the community. This report highlights the remarkable strides city staff implemented to increase the financial opportunities for minority-owned, women-owned, and small businesses, which led to a surge in city spending for Professional Services contracts, which surged from $5.5M in FY2022 to $10.6M.

Key Achievements include:

• Launching the Contractor Development Program, which registered 92 participants, offering 1,770 technical assistance services and 825 contractor development services. This support has increased contractors' bonding capacity, totaling $2.85M, and enabled participants to secure significant bidding opportunities, including a $250,000 bid bond for one contractor.
• Welcoming 80 new vendors into the CBI MWSBE Directory.
• Providing a five-week Bidding and Estimating Training Academy, for 37 contractors and 16 training sessions covering essential business topics.

Each day, CBI staff connect, support, and collaborate with individuals and businesses throughout the community. Hearing the success stories of those served fuels their inspiration and commitment to strive for an even greater impact. 

Watch the CBI Stories Video to hear how CBI has transformed lives and read the annual report by visiting the Charlotte Business INClusion website.