Siemens Awards $20,000 Grant to Princeton Technical Services of Chicago to Enhance Minority Representation in its Supply Chain
In partnership with the U.S. Department of Commerce Minority Business Development Agency, 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 Princeton Technical Services based in Chicago, as one of seven Black-owned small businesses to receive a $20,000 grant. The business will now join Siemens’ supplier database consisting of more than 6,000 small and diverse businesses.
“When we began Princeton Technical Services four years ago, we knew we were going to play a meaningful role not only in a complex construction services industry but also delivering on our obligation to serving our community,” said Timothy Hughes, Founder of Princeton Technical Services. “We are so pleased to receive this grant to continue growing our business, specifically in the material testing market, and building on the standards of quality and excellence we’re known for.”
“Under the leadership of Mayor Lori Lightfoot, we are working towards making Chicago the most vibrant and diverse small business community in America,” said City of Chicago Chief Procurement Officer Shannon E. Andrews. “This national award recognizes the talent pool of MWBE certified firms here in Chicago, and we encourage partnerships such as this one to create opportunities for our local businesses to help them grow and thrive.”
Princeton Technical Services is the only African American-owned material testing business in the state of Illinois, serving complex multi-million-dollar construction projects and programs as well as smaller standalone projects. Founded by Hughes, a project management executive with over 25 years of construction management experience, the MBE/DBE/ACDBE, City of Chicago-certified firm brings professional excellence in providing construction and project management for these important jobs in a space where diversity truly matters.
“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, the MBDA Centers nominated nearly 30 Black-owned businesses in seven cities across the country 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.
“Black business owners are not just looking for ways to enhance their bottom lines, they also want to have a positive impact in the communities they come from and often serve,” said David Thomas, Director of the Chicago MBDA Business Center. “Grants such as the one provided by Siemens will help to enhance this impact and allow the owner to offer more services to his clients, which means more jobs will be created and more paychecks will come into those households. Better yet, more kids will go to college and someday provide meaningful careers to the next generation, and society as a whole will benefit.”
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.