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Release
FOR IMMEDIATE RELEASE
Contact: Virginia Rybski, 678.461.9881 or info@baoa.com
BAOA TO PRESENT AT NEW YORK SOCIETY OF SECURITY ANALYSTS 4TH ANNUAL DIVERSITY AND CAPITAL MARKETS CONFERENCE
Meeting Features Publicly Traded African American-Controlled Companies
NEW YORK, Thursday, May 20, 1999 - Black Americans of Achievement, Inc. (NNOTC: BAOA) announces that the company's President and Chief Executive Officer, Peter Van Brunt, and Chief Financial Officer, Steven Wright, will present at the New York Society of Security Analysts' (NYSSA) financial forum on “Diversity and the Capital Markets” during the afternoon session on May 21, 1999. The meeting will be held at NYSSA offices located at One World Trade Center on the 44th floor from 8:30 AM to 5:00 PM. BAOA will present the company's core business strategy for building and operating multiple call centers utilizing an innovative, non-dilutive approach to financing. In addition, BAOA will highlight the company's recent accomplishments, progress on three call centers, and future goals.
“Black Americans of Achievement is proud to present again this year at the New York Society of Security Analysts conference on Diversity,” stated Peter Van Brunt, Chief Executive Officer of BAOA. “As an African American-controlled company we have been working with redevelopment programs, such as the Federal Empowerment Zone Program in various cities like Atlanta and Harlem, and the Economic Development Council in Los Angeles. BAOA has been approved for funding to help rebuild under-served communities by creating a high tech, telecommunications skill-base through the creation of the company's call center businesses.”
The Federal Empowerment Zone Program is designed to encourage growth in under-served communities, such as rural areas, inner cities and Native American reservations. The Clinton administration created the zones in 1994 to seed economic development with $250 million in federal cash grants and tax breaks to be awarded over a 10-year period. The first zones were awarded to Atlanta, Chicago, Baltimore, Detroit, New York and Philadelphia. Additional zones were added last year. Companies who locate in these designated Zones receive local, state and federal tax credits, job training assistance and long-term, low interest loans.
In Atlanta, BAOA has been approved to receive $3.5 million in financing from the Atlanta Empowerment Zone Corporation. BAOA has acquired a 38,600 square foot facility; when refurbished for Call Atlanta, Inc., a wholly owned subsidiary of the company, the building will accommodate up to 600 employees when fully operational.
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ADD 2 of 2 - BAOA TO PRESENT AT NEW YORK SOCIETY OF SECURITY ANALYSTS 4TH ANNUAL DIVERSITY AND CAPITAL MARKETS CONFERENCE
In Harlem, BAOA is working with the Upper Manhattan Empowerment Zone Development Corporation to secure funding and establish Call Harlem, Inc., a wholly owned call center operation of the company. BAOA has leased and is renovating an 8,500 square foot facility, which will accommodate up to 250 employees.
In Los Angeles, BAOA is working in partnership with the Figueroa Economic Development Corporation (FEDC) to establish operations. The call center will be located at 777 Gauge Street in South Central Los Angeles. It is anticipated this call center will have 125 teleservices representative (TSR) stations. With three shifts operating, this site could provide up to 375 jobs.
BAOA has already received $104 million in purchase orders spanning a 36-month period for the company's call center businesses. Initially, call center employees will place out-bound calls for major telecommunications companies to offer analog and digital cellular products, and reduced long-distance telephone services. Other types of out-bound call purchase orders may be for opinion polling, political campaigns and utilities. In the future, in-bound call services will be added to support infomercials, credit cards, banking, and Internet access.
Black Americans of Achievement, Inc. (BAOA), an African American-controlled business, is a development and affinity marketing company uniquely located in high growth, untapped urban communities. The company's core business activity is to implement in-bound and out-bound teleservices programs for large corporations and peripheral business is to develop proprietary entertainment products for distribution through its teleservice business centers. As a minority-based business, BAOA's strategy is to capitalize on the Federal Empowerment Zone Program, which gives the company access to low-interest loans, job training assistance, and local, state and federal tax credits to build multiple call centers throughout the United States. The company is focused on developing call centers in Atlanta, Harlem and Los Angeles.
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