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Press Room May 2013
Rangel's Business And Innovation Conference at Lehman College Draws Hundreds
New York, NY – Over two hundred constituents filled the Faculty Dining Room of Lehman College in the Bronx on Thursday, April 4, 2013, to attend the Business and Innovation Conference hosted by Congressman Charles B. Rangel. Along with guest speakers Dr. Rebecca Blank, the Deputy Secretary of the U.S. Department of Commerce and David Hinson, the National Director of the Minority Business Development Agency (MBDA), Rangel answered questions from constituents regarding the landscape for the business community and the economy.
"President Barack Obama is pushing for initiatives that help business owners and entrepreneurs to succeed as they play an increasingly vital role in our nation's economic recovery," Rangel said. "Dr. Blank and Director Hinson's presence here today serves as a reminder that the government values your contributions to our ability to compete globally and is actively working to help you thrive. Hardworking business owners are the backbone of our economy, which is why I organized this event to give you the tools and resources needed to expand your businesses or start new ones."
National Deputy Director Castillo Testifies before the Senate Committee on Small Business and Entrepreneurship
WRITTEN TESTIMONY OF ALEJANDRA Y. CASTILLO, ESQ.NATIONAL DEPUTY DIRECTOR
MINORITY BUSINESS DEVELOPMENT AGENCY U.S. DEPARTMENT OF COMMERCE
Before the Senate Committee on Small Business and Entrepreneurship
May 8, 2013
Madam Chairwoman Landrieu, Ranking Member Risch, and Members of the Committee, Thank you for inviting the Minority Business Development Agency (MBDA) to appear before the committee to speak on such a critical topic as strengthening the minority women-owned business community. I ask that my statement in its entirety be submitted for the record.
Minority-owned businesses in general contribute significantly to this nation’s economy. According to the 2007 Survey of Business Owners, minority-owned firms contributed $1 trillion in total economic output to the economy and employed nearly 6 million Americans.
Additionally, minority-owned firms are a driving force for the global competitiveness of the United States economy. As more than 70 percent of the world’s purchasing power and 95 percent of its population live beyond U.S. borders,  the ability of firms to compete in the global marketplace is a major source of strength for the national economy. To that end, minority-owned firms have the best export statistics of any segment in the U.S. economy. These firms are more likely to export their products and services as non-minority-owned firms, three times as likely to derive 100 percent of their revenues from global transactions, and three times as likely to transact business in a language other than English. With their ability to break down cultural and linguistic barriers, minority-owned firms are helping lead the way to securing our economic prosperity.
MBDA Establishes Partnership with California High-Speed Rail Authority to Expand Participation by Minority-Owned Firms in the State’s Largest Infrastructure Project
May 3, 2013
Agreement Increases Firms’ Access to Certification and Contracting Opportunities
WASHINGTON (May 3, 2013) —The U.S. Commerce Department’s Minority Business Development Agency (MBDA) has entered into a Memorandum of Understanding (MOU) with the California High-Speed Rail Authority (Authority) aimed at achieving greater participation by minority-owned companies in all phases of construction of the new high-speed train system construction, the state’s largest infrastructure project.
The MOU, signed during today’s launch of the MBDA Business Center in Fresno, will help ensure that minority-owned businesses get information, technical assistance and support related to this significant contracting opportunity. To ensure that firms participating in the construction of the high-speed train system reflect the diversity of California’s business community, the Authority has set a minimum participation goal of 30% for certified Minority Business Enterprises (MBEs), Small Businesses (SBs), Disadvantaged Business Enterprises (DBEs) and Disabled Veteran Business Enterprises (DVBEs) in all phases of the rail system construction process. This requirement exceeds widespread existing minimum standards.
May 3, 2013
MBDA Business Center Will Benefit California’s Central Valley Minority-Owned Firms
WASHINGTON (May 3, 2013) —The U.S. Commerce Department’s Minority Business Development Agency (MBDA) officially launched a new MBDA Business Center in Fresno, Calif., today. State, regional and local representatives joined MBDA National Director, David A. Hinson in the ribbon cutting ceremony.
“One of our top priorities at MBDA is to expand the Agency’s reach so more minority-owned firms benefit from the expertise of our business centers,” said Hinson. “Establishing a presence in Fresno strengthens our ability to help the California Central Valley region’s minority-owned businesses grow and create jobs, which are key priorities of the Obama administration.”
The new business center, which will team with the San Jose and San Francisco MBDA Business Centers, will receive a federal grant of $300,000 per year over the next five years. The monies will be used to assist the minority-owned and managed firms in the region in gaining access to contracts, capital and markets, ultimately leading to the creation of new jobs and a stronger economy in the region.
The U.S. Commercial Service is organizing a trade mission in conjunction with the Opportunities in Central America Business Development Conference in San Jose, Costa Rica on July 15-19, 2013. Trade mission participants will be able to take part in the conference and have business-to-business meetings in up to two of the following countries: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and/or Belize.