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Press Room September 2011

Renewing the American Dream: Hispanic-Owned Businesses, An Engine of Job Creation and Exports

Alejandra CastilloMinority-owned businesses, including Hispanic-owned businesses, are the backbone of our nation’s economy and an engine of job creation and exports. Hispanic and other minority-owned businesses have been growing at a much faster pace and creating millions of jobs for Americans.

Most recent data from the U.S. Census Bureau shows that there are 6 million minority-owned businesses, of which more than 2 million are Hispanic owned. Although employment declined by 1 percent among non-minority-owned businesses between 2002 and 2007, it has continued to grow at a faster pace among minority- and Hispanic-owned firms -- by 24 percent in a wide variety of industry sectors, and gross receipts increased by 55 and 58 percent for minority- and Hispanic-owned firms respectively during that same period.

While we are living in challenging economic times and too many Americans are experiencing unacceptably long periods of unemployment, particularly among Hispanics and African Americans, minority- and Hispanic-owned businesses are at the center of our nation’s economic expansion.

MBDA to Recognize The Honorable Robert Menendez with the Ronald H. Brown Leadership Award

WASHINGTON, D.C. (September 19, 2011) – The Minority Business Development Agency (MBDA) proudly announces the winner of the Ronald H. Brown Leadership Award for Minority Enterprise Development (MED) Week 2011. The Honorable Robert Menendez, U.S. Senator from New Jersey, will be honored at the Annual Awards Gala at MED Week on September 30, at the Marriott Wardman Park Hotel in Washington, D.C. The awards gala wraps up the three-day MED Week conference.

U.S. Senator Robert Menendez“MBDA is pleased to honor Senator Menendez with this leadership award for his commitment to strengthening the minority business community through initiatives that create economic growth and jobs. He is a man of action, and has a voice that commands action by others,” said MBDA National Director David Hinson.

The Ronald H. Brown Leadership Award spotlights individuals who have taken risks in the achievement of change, and those who have demonstrated exceptional leadership through significantly enhancing the development of diversity in the U.S. economy and abroad.

MBDA Recognizes James H. Lowry of the Boston Consulting Group with the Abe Venable Award for Lifetime Achievement

WASHINGTON D.C. (September 19, 2011) - The Minority Business Development Agency (MBDA) today announced that it will honor James H. Lowry, senior advisor and global diversity director for the Boston Consulting Group, with the Abe Venable Award for Lifetime Achievement at the annual MED Week Awards Gala Sept. 30, at the Marriott Wardman Park Hotel in Washington, D.C. The awards gala closes out the three-day national MED Week conference.

James Lowry“Throughout his life, James Lowry has championed causes that promote the growth and development of minority business enterprises,” said MBDA National Director David Hinson. “His lifelong service and commitment to the minority business community is exceptional and we are proud to recognize his achievements.”

The Abe Venable Award for Lifetime Achievement is given to an individual who has played an integral role in the creative, technical or professional progress of the minority business community over the course of his or her life. It is named in honor of Abraham S. Venable, who joined the U.S. Department of Commerce in 1963 and later was appointed by President Richard Nixon to serve as MBDA’s first African American Director (1970-1971).

MBDA Helps VisionIT Create Jobs in Diverse Communities

David Segura

Read additional success stories.

David Segura is a man on a mission to not only create jobs, but to also help to keep them in the United States.  His company, VisionIT was developed out of his community activities, which included volunteering weekly to teach youth in Detroit about the field of technology and the growing Internet trends.

His deep commitment to the community and to using the talents of diverse populations in the field of information technology is an integral part of his company’s success.

The Detroit, Mich., based company was founded in 1997 by Segura. VisionIT delivers consulting and technology services to corporations and government agencies. Among the many accolades VisionIT has received, this year it was ranked in Hispanic Business Magazine's Hispanic 500 as the 27th largest Hispanic-owned business in the U.S., and for the ninth year in a row it was ranked in the magazine’s annual list of the 100 fastest growing Hispanic businesses in the U.S.

MBDA Awards $4.3 Million in Grants to Advance the Growth of U.S. Minority Businesses

Funding will support new MBDA Business Centers in Boston, Minneapolis and Riverside, California

WASHINGTON, D.C. (September 14, 2011) – The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) today announced approximately $4.3 million in funding over the next five years for three new MBDA Business Centers (MBC) in Boston, Mass., Minneapolis, Minn., and Riverside, Calif., to stimulate job creation and support the economic growth of minority firms across the United States.  By investing in local communities across the nation, the Obama Administration continues to demonstrate its commitment to take actions designed to put more Americans to work and foster economic growth.

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