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New Job Creation and Economic Impact Dominate Big Numbers for Minority Business Development Agency
2011 proved to be another highly productive year for Commerce's Minority Business Development Agency (MBDA)—the only federal agency tasked to promote the growth and global competitiveness of the minority business community. MBDA is a leader in strengthening the economy and improving the lives of all Americans. We support job growth and economic expansion through a network of MBDA business centers, collaboration with federal, state and local government agencies, and strategic partnerships. The U.S. economy continues to benefit from a strong minority business sector as illustrated by our big numbers below.
$1.0 trillion—The combined economic output of the nation’s 5.8 million minority-owned and operated businesses that provide goods and services across all industry sectors, including renewable energy, environmental remediation, manufacturing, information technology and telecommunications.
$10 billion—The total dollar value of public and private sector contracts and capital that MBDA and its network of business centers obtained for minority-owned firms since the beginning of the Obama administration.
15,000 plus—The number of new jobs created by minority business enterprises as a result of working with MBDA and its network of business centers during the first three years of the Obama administration.
125X—The return on investment the U.S. taxpayer receives from MBDA due to its increased operating efficiencies and focus on job creation.
We anticipate 2012 will be another great year for the Minority Business Development Agency as we launch new business services, push global exporting opportunities and release recommendations from the National Advisory Council on Minority Business Enterprise. To learn more about what we have planned and how we can help you create jobs and improve your business, subscribe to the MBDA newsletter, visit an MBDA Business Center, and come to our 30th National Minority Enterprise Development (MED) Week Conference.