VOL. 131 | NO. 179 | Wednesday, September 7, 2016
Yancy Retiring From Memphis Minority Business Agency
The Daily News
One of the most influential advocates for minority businesses in Memphis is retiring from that economic development role.
Luke Yancy III, who has been president and CEO of the Mid-South Minority Business Council Continuum for 16 years, will retire in September 2017 to pursue other interests, according to the MMBC Continuum board of directors.
Yancy has served as the leader of the nonprofit economic development organization since July 2000. The board plans to hire a firm to do a national search for Yancy’s replacement.
“We hate to see Luke go, but respect his decision to pursue other personal and professional interests,” board chairman Fred L. Davis said in a release. “The organization has experienced tremendous growth under his visionary leadership.”
During Yancy’s tenure, the MMBC Continuum transitioned from a certification-focused organization to a multifaceted entity focused on growing scalable minority- and women-owned businesses that have the greatest opportunity of boosting the economy and creating jobs. The number of scalable minority employer firms with multimillion-dollar contracts grew from zero to more than 100 firms while Yancy was leading the organization. Since 2008, minority businesses have been conservatively awarded more than $1.7 billion in contracts through programs of the agency.
Training and development services have grown and a Working Capital Loan Fund for certified M/WBEs was created under Yancy’s leadership. He has forged local, regional, national and global strategic partnerships to benefit the agency and its members, including the acquisition of one of 32 Minority Business Development Agency (MBDA) Business Centers under the U.S. Department of Commerce.
Yancy, a former commercial banker, retired as president of AmSouth Bank’s West Region prior to joining the MMBC Continuum.