Monday, June 28, 2010 -
TOM WILEMON | The Daily News -

The Mid-South Minority Business Council’s third annual Economic Development Fair begins Monday with three days of seminars and networking events at the Memphis Cook Convention Center.

More than 220 exhibitors are taking part. This year the fair focuses on how corporations and economic development agencies are working to bring opportunities to businesses located in inner-city neighborhoods, said Luke Yancy III, executive director of the MMBC.

“When these businesses grow their revenues from a contract with a FedEx or an International Paper, what they tend to do is hire workers from those communities,” Yancy said. “As they hire workers, those workers are paid more income. They use that income to buy homes, to buy cars, to go to restaurants and other retailers. That economic lift basically turns those communities around.”

Several speakers and panel discussions are on the agenda.

Nat Irvin II, president of Future Focus 2020, will talk about emerging trends and new market opportunities.

James Lowry Sr., an adviser with Boston Consulting Group, will address ways to help minority-owned businesses grow.

Pat Hanes, regional director of the U.S. Department of Commerce Minority Business Development Agency, will explain the work of that organization.

The chief executive officers of some of the city’s largest corporations and institutions will share the stage for a panel discussion.

“It’s our signature event,” Yancy said. “This particular event will bring back CEOs from the first round table two years ago where they signed resolutions committing their companies and themselves to growing economies in the inner-city community by embracing diversity within their companies, their work force and by buying more goods and services from minority suppliers. They are going to come back two years later and talk about their progress.”

The CEO panelists will include Gary Shorb of Methodist Le Bonheur Healthcare, Charles Burkett of First Tennessee, Larry Cox of the Memphis-Shelby County Airport Authority, Michael Isakson of ServiceMaster Clean and Memphis Mayor A C Wharton Jr.

The first MMBC Economic Development Fair dealt with the concepts and reasons for building corporate partnerships with minority businesses. The second fair focused on how to form those partnerships.

“What you are going to see at this fair are some actual cases where it is working,” Yancy said. “This particular fair is about strategic fit. It is about how the MMBC works as an intermediary to dial up opportunities for minorities by bringing all the different players together around this task of growing revenues in the inner city.”

There is a charge to attend the sessions. Participants can purchase a ticket for a single session for $50, a full-day pass for $275 or admittance for two to all fair events for $350.

Admission to the exhibit hall is free. People can pick up free tickets at the event.

“The fair will be three days of networking, three days of sharing information, sharing best practices, showing trend lines, giving ideas on growth segments for minority businesses,” Yancy said. “It’s going to be a great fair.”