News and Announcements

AS PREPARED FOR DELIVERY
Friday, September 30, 2011
CONTACT OFFICE OF PUBLIC AFFAIRS
202-482-4883

Acting Commerce Secretary Rebecca Blank
Remarks at Minority Enterprise Development (MED) Week Conference

Thank you for the kind words, David [Hinson], and for your excellent leadership of the Minority Business Development Agency. Good morning, everyone. It’s an honor to be among so many talented entrepreneurs and business owners here for our 29th MED Week Conference. In my day job, before I was named Acting Secretary, I was the Under Secretary for Economic Affairs an economist who manages the Commerce Department’s two statistical agencies. Now, I know you all came this morning because you wanted to listen to an economist. But if you’ll indulge me for a moment, I want to talk to you about how our economy got to where it is today and what we need to be doing about it. 

It’s a story worth understanding.  And it’s a story in which we need more chapters written by businesses like yours.  According to our latest survey (Census Survey of Business Owners, 2002), in terms of both numbers and gross receipts, minority-owned firms have grown faster than other firms. For many Americans, I imagine it seemed like we were doing OK in this century’s first decade. In some respects we were. There were folks making a lot of money.

MINORITY ENTERPRISE DEVELOPMENT WEEK, 2011

BY THE PRESIDENT OF THE UNITED STATES OF AMERICA

A PROCLAMATION

Our Nation is guided by the simple promise that no matter our origins, we can provide a better life for our children.  We have long believed in a fair America, where, with hard work and determination, anyone can succeed.  Our story has been written by generations who have put their shoulders to the wheel of history to move our country forward.

Today, this legacy continues.  Our strength comes from individuals from all walks of life, and of every race and creed.  Minority owned businesses are engines of job creation and backbones of communities across America from Main Street to Wall Street, and from country markets to Silicon Valley.  They are on the cutting edge of development, and are strong competitors at home and abroad.  Small businesses, including minority owned enterprises, are where most new jobs begin.  To recover from this economic crisis and improve our competitiveness, we must help these job creators hire, grow, and revitalize our economy.

My Administration is working to make this growth a reality.  Our Start up America initiative connects established private sector mentors to entrepreneurs, helping accelerate innovation through coordination.  Last year, I signed the Small Business Jobs Act, providing billions of dollars in lending support and tax cuts for small businesses.  The Federal Government is also the Nation's largest purchaser of goods and services, and every Federal agency is taking aggressive steps to improve contracting with small businesses, including minority owned firms.

Even in challenging times, American entrepreneurs consistently respond to adversity with brighter ideas, more ambitious innovations, and smarter technology than the world has ever seen.  These businesses create jobs and support our communities.  As a Nation, we must continue to remove barriers to these opportunities, and ensure they remain open to all Americans.

16 Federal agencies come together to support development of high-growth industry clusters in 21 states

WASHINGTON – The Obama Administration today announced the winners of the $37 million Jobs and Innovation Accelerator Challenge, a multi-agency competition launched in May to support the advancement of 20 high-growth, regional industry clusters. Investments from three federal agencies and technical assistance from 13 additional agencies will promote development in areas such as advanced manufacturing, information technology, aerospace and clean technology, in rural and urban regions in 21 states. Projects are driven by local communities that identify the economic strengths of their areas, with funding awarded to the best proposals.

Cleveland is the home of the U.S. Commerce Department’s Minority Business Development Agency’s (MBDA) newest business center. On Thursday, Sept. 1, more than 250 people turned out for the Cleveland MBDA Business Center’s grand opening and press conference held at the Wyndham Hotel.

U.S. Senator Sherrod Brown (D-Ohio) and Congresswoman Marcia Fudge, (D-Ohio) delivered remarks; and Cleveland Mayor Frank Jackson presented a proclamation recognizing the center’s role in the city.

MBDA National Director David Hinson delivered remarks to the crowd, challenging business owners to take advantage of the new opportunities that will be available through the business center in creating access to capital, contracts and markets.

The $1,125,000 five-year federal grant check was presented to center operator Andrew Jackson, Senior V. P. and Executive Director of the Commission on Economic Inclusion, Greater Cleveland Partnership.