Chicago mayor introduces mentor-protege plan
Published on 08/22/2012
The City of Chicago may soon be implementing a mentor-protege program that would help both minority and women-owned business enterprises (M/WBE) and general contractors win city contracts.
"This innovative program will be another tool that we can use to promote opportunity for minority-and women-owned businesses in Chicago," said Mayor Rahm Emanuel. "Small businesses are the backbone of our economy, and encouraging their growth and independence is central to our economic development strategy for the city. This is a great ordinance that will help these businesses become self-sufficient and competitive."
To incentive participation by larger contractors, the city will offer five percentage points of MBE or WBE credit to mentors.
At the present time, the mentor-protege program is a proposed ordinance.
