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MBDA History


  • Submitted on 05 June 2014

  • Submitted on 16 April 2014

    Richard Nixon

    On March 5, 1969 President Nixon accompanied by Maurice H. Stans, Secretary of Commerce and Robert J. Brown, Special Assistant announced the creation of the Office of Minority Business Enterprise. In the Cabinet Room at the White House, President Nixon signed the Executive Order "Prescribing Arrangements for developing and Coordinating a National Program for Minority Business Enterprise.”

    » View the Nixon’s Presidential Daily Diary for March 5th.

  • Submitted on 16 April 2014

    President NixonPRESCRIBING ARRANGEMENTS FOR DEVELOPING AND COORDINATING A NATIONAL PROGRAM FOR MINORITY BUSINESS ENTERPRISE

    By virtue of the authority vested in me as President of the United States, it is ordered as follows:

    SECTION 1. Functions of the Secretary of Commerce. (a) The Secretary of Commerce (hereinafter referred to as 'the Secretary') shall--

  • Submitted on 16 April 2014

    U.S. Rep. Bobby L. Rush (IL-01) introduced a resolution related to MBDA’s Anniversary. H.Res. 502, if passed, would officially congratulate and commend MBDA for its work enhancing the minority business community and our nation’s economy.

     

    Congratulating the Minority Business Development Agency on its 45th anniversary and commending its achievements in fostering the establishment and growth of minority businesses in the United States.

     



    IN THE HOUSE OF REPRESENTATIVES

    March 5, 2014

  • Submitted on 06 August 2013

    2012

     

    Highest Level of Performance

    In fiscal year 2012, MBDA helped create and retain 16,730 jobs, the highest level in the 44 year history of the Agency.  Return on taxpayer investment, the Agency's primary measure of internal operating efficiency, was 126x in fiscal year 2012. This was achieved by helping MBDA clients obtain over $3.6 billion in contracts and capital awards.

  • Submitted on 19 September 2012

    2011

    Record Year

    Our team supported the creation of 5,787 new jobs by assisting minority-owned businesses in obtaining nearly $4 billion in contracts and capital—a $6 million increase over last year’s record level. MBDA’s return on taxpayer investment (ROI) reached the highest level in the 43-year history of the Agency. In Fiscal Year 2011, ROI stood at 130x, up from 125x in FY2010 and 70x at the beginning of the Obama Administration. Download 2011 Annual Performance Report

     

    Jobs and Innovation Accelerator Challenge

    In May 2011, President Obama launched the Jobs and Innovation Accelerator Challenge to promote innovation and job growth, and to advance our global competitiveness. The competition offered a total of $33 million in funding from three Federal agencies, plus technical assistance from 13 additional agencies to promote the development of at least 20 industry clusters across the country. MBDA contributed technical development expertise to this effort. In addition to providing technical support for this initiative, three MBDA Business Center operators and their affiliates were successful in obtaining $5.4 million in grants under this program.

  • Submitted on 12 September 2012

    2010

     

     

     

    Capital Access Report

    MBDA releases the Capital Access report “Disparities in Capital Access Between Minority and Non-Minority-Owned Businesses: The Troubling Reality of Capital Limitations Faced by MBEs”.  The report provides new findings on disparities in capital access between minority businesses and non-minority businesses after controlling for a number of factors including size of firm and credit worthiness among other.

     

    Minority-owned firms Increased by 46 Percent to 5.8 Million between 2002 and 2007

    MBDA and the U.S. Census Bureau announced that the number of minority-owned firms increased by 46 percent to 5.8 million between 2002 and 2007 according to data from the Preliminary Estimates of Business Ownership by Gender, Ethnicity, Race and Veteran Status: 2007, from the U.S. Census Bureau’s 2007 Survey of Business Owners.

     

    Telecommunications Contract

    MBDA assisted a team of African-American businesses to bid for a telecommunications contract. The team was composed of primary partners to Trillion Communications Corporation, A2D, Inc. and A-Plus Community Solutions that are working to increase broadband access in underserved communities. With the assistance of MBDA, Trillion Communications Corporation secured an $84 million procurement project creating 1,200 new jobs.

  • Submitted on 28 March 2012

    October 3, 1983

    Thank you, and welcome to the White House. We are here today to celebrate the contributions of minority business to American economic life, and we're also here to encourage the development of minority business itself.

  • Submitted on 19 August 2010

    On September 15, 2009 the House of Representatives passed H. Res. 215, a resolution congratulating the Minority Business Development Agency on its 40th anniversary and commending its achievements in foster the establishment and growth of minority businesses in the United States. View complete resolution.

  • Submitted on 19 August 2010

    In the 40 year history of the Minority Business Development Agency we have had several National Directors. Take a look at our previous leadership.

     

Did you know...

Between 2002 and 2007, minority-owned firms outpaced the growth of non-minority firms in gross receipts, employment, and number of firms. Minority firms are an engine of job creation.
Graph for MBE Growth

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