Texas Instruments Committed to Minority and Women Business Development
Texas Instruments is a recognized leader in developing and fostering businesses owned by minorities and women. The company firmly believes that its investment in minority and women business development (MWBD) gives TI a distinct competitive advantage in its operations, and it's also the right thing to do to make the community stronger. MWBD is a high priority and a business imperative for the continued success of Texas Instruments.
A strong minority and women supplier base:
TI's strategy is to create unique partnerships to develop and nurture businesses. We place strong emphasis on the quality of the relationships because if they succeed, TI succeeds. Additionally, TI provides training for its managers to build long-term opportunities for suppliers.
TI has been recognized as a pacesetter in MWBD for more than two decades and has grown its minority purchases from zero in 1989 to more than $231 million in 2005. TI was named to the Women's Business Enterprise's top sixteen corporations for women-owned business development and is the benchmark in MWBD by the Boston College Center for Corporate Community Relations. TI has received the "Corporation of the Year" Award from the Dallas/Fort Worth Minority Business Development Council and the "UNIDOS" Award from the Greater Dallas Hispanic Chamber of Commerce.
In 2004, On-Target Supplies and Logistics, a minority owned South Dallas-based business, signed a three-year contract renewal with TI, valued at $5.0 million, to provide dock receiving management services. On-Target has been recognized for providing outstanding "blue ribbon service" to TI for more than 10 years.
In 2000, TI invested $3 million in the North Texas Opportunity Fund, a venture capital fund exclusively for companies owned by minority and women and/or located in economically distressed areas in North Texas.
TI made a donation of $2 million to the Southern Dallas Development Corporation, an entity that is furthering the development of minority owned businesses in an underutilized area of Dallas.