News and Announcements

BOSTON — Minority business owners in Massachusetts are set to benefit from a new resource designed to help them gain access to contracts, capital and markets.

The U.S. Commerce Department’s Minority Business Development Agency is scheduled to formally open its new business center in Boston on Tuesday to help minority businesses expand.

The agency says minority businesses accounted for nine percent of all firms located in Massachusetts in 2002, the latest year for which data is available.

The minority accounted for nearly 20 percent of the state population in 2010.

March Business Development Mission will Make Stops in Delhi, Jaipur and Mumbai

At the U.S. Chamber of Commerce, Commerce Secretary and former CEO John Bryson laid out his priorities for the Department of Commerce, including supporting advanced manufacturing, increasing exports, and attracting more investment to America from all over the world.  In conjunction with those priorities, the Department of Commerce is announcing that Secretary Bryson will lead his first trade mission, March 25-30, 2012, focusing on infrastructure opportunities in India.  The focus of the mission is to promote U.S. exports and discuss trade policy issues in response to India’s goal of investing $1 trillion in infrastructure development during the next five years. 

“Exports are leading the U.S. economic recovery and contributing to future economic growth and job creation in America,” said Secretary Bryson. “Selling more made-in-USA infrastructure products to India will help U.S. companies grow and hire more people while helping India meet its ambitious goals to dramatically improve it roads, railway and bridges.”

Minority businesses that have more than $1 million in revenue will be eligible for assistance at the new Minority Business Development Agency, which aims to help such companies secure more than $21 million in annual contracts and more than $9 million each year in capital.

The U.S. Commerce Department reportedly opened a Minority Business Development Agency (MBDA) in Minneapolis this week in an effort to help grow minority businesses within the state.

According to the Star Tribune, the MBDA will be run by the Metropolitan Economic Development Association (MEDA) under a five-year contract that’s expected to net $30 million annually and hundreds of jobs for Minnesota’s minority-owned firms.

At a press conference on Tuesday, the Minority Business Development Agency (MBDA) celebrated the grand opening of the NY– Manhattan MBDA Business Center (NYCMBC). Suzette C. Bather, project director of the center, gave the opening remarks, followed by Heyward B. Davenport, MBDA Northeast Regional Director who acknowledged and introduced speakers of the evening, MBDA National Director David A. Hinson, and President & CEO of the National Community Reinvestment Coalition (NCRC), John Taylor.