Siemens Awards $20,000 Grant to LB Electric Co. of New York to Enhance Minority Representation in its Supply Chain
In partnership with the U.S. Department of Commerce Minority Business Development Agency (MBDA), Siemens awards $140,000 in grants to Black-owned businesses in seven metropolitan areas: Atlanta, Baltimore, Chicago, Detroit, Los Angeles, New York, and Tampa.
February 24, 2021
Siemens and its partner, the Atlanta MBDA Business & Advanced Manufacturing Centers at Georgia Tech, selected LB Electric Co., LLC as one of seven Black-owned small businesses to receive a $20,000 grant. LB Electric Co. will now join the company’s supplier database consisting of more than 6,000 small and diverse businesses.
“We need to support and invest in our local economy while prioritizing minority owned businesses, especially those in Black and Brown communities like LB Electric Co., to create an equitable recovery for Queens and for our country. I thank Siemens and the U.S. Department of Commerce Minority Business Development Agency for awarding substantial grants to Black-owned businesses in my district,” said Congressman Gregory W. Meeks.
“LB Electric is expanding our global reach through our relentless pursuit of innovation,” said Leon Baptiste, founder and president, LB Electric Co. “The grant provided by Siemens is a great honor and will increase opportunities for our community by helping our company connect with customers that we may otherwise have not been able to.”
Founded in 1999 by Leon Baptiste, LB Electric Co., LLC is an electrical contractor and engineering firm that services the tri-state area. Providing electric services for the area’s largest entertainment, transportation, and infrastructure developments, LB Electric’s project list features New Jersey’s MetLife Stadium, The Governor Mario M. Cuomo Bridge and the Newark Liberty International Airport. Baptiste has since grown the business to incorporate a solar energy subsidiary, LB Energy, and utilizes his extensive experience and engineering background to help mentor and support other minority business professionals – oftentimes utilizing them as subcontractors. Planning to use the Siemens grant to further apply his passion for mentoring, Baptiste will widen his accredited training services to allow those in the five boroughs to either jumpstart or switch careers into the burgeoning renewable energy industry.
“We as a company are more resilient when our supplier base is inclusive, fostering not only greater competition but also flexibility during challenging times,” said Patric Stadtfeld, head of Supply Chain Management for the Americas, Siemens USA. “We’re proud to support these Black-owned companies and look forward to working together in the future.”
In January, MBDA Centers in the seven select cities nominated nearly 30 Black-owned businesses to apply for the Siemens grants. The winners were selected by the MBDA based on their alignment with Siemens’ supply chain needs, and all nominated candidates will join Siemens’ supplier database.
“MBDA Manhattan Center is proud of Leon Baptiste who has demonstrated significant accomplishment in business as a job creator in our region, coupled with a lifetime of leadership in our MBE community,” said Roxanne Neilson, director, MBDA Manhattan Center. “We are so honored by this recognition and the work this firm has done to merit the Siemens award. Our BOC Network Inc. - MBDA Manhattan Center applauds both Siemens and LBE Electric Co. as they forge new strategic connections and strengthen bonds which can only expand opportunities for our entire community of diverse suppliers."
The Siemens grants are intended to help Black-owned companies develop their businesses to successfully compete for contracts, demonstrating the company’s support of minority businesses and mission to advance supplier diversity.
To learn more about Siemens’ role in helping build a more resilient, equitable and inclusive society, please visit the Siemens Stories blog.
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Siemens Corporation is a U.S. subsidiary of Siemens AG, a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. Active around the world, the company focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalization in the process and manufacturing industries. Siemens brings together the digital and physical worlds to benefit customers and society. Through Mobility, a leading supplier of intelligent mobility solutions for rail and road transport, Siemens is helping to shape the world market for passenger and freight services. Via its majority stake in the publicly listed company Siemens Healthineers, Siemens is also a world-leading supplier of medical technology and digital health services. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power that has been listed on the stock exchange since September 28, 2020. In fiscal 2020, Siemens Group USA generated revenue of $17 billion and employs approximately 40,000 people serving customers in all 50 states and Puerto Rico.
MBDA Centers are part of a national network of 40-plus centers and special projects funded by the U.S. Department of Commerce Minority Business Development Agency. MBDA is the only federal agency solely dedicated to the growth and global competitiveness of minority business enterprises. With a vision of economic prosperity for all American business enterprises, MBDA programs, services, and initiatives focus on helping MBEs grow today, while preparing them to meet the industry needs of tomorrow. To learn more about the MBDA and its business center network, visit www.mbda.gov.