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Press Releases

  • Submitted on 23 August 2010

    WASHINGTON (August 16, 2010) - The Minority Business Development Agency (MBDA) today announced it will honor Richard Rizzo, vice chairman of the Perini Building Company, with the Abe Venable Award for Lifetime Achievement at an awards gala Friday, August 27, 2010, at 7:00 p.m. at the Omni Shoreham Hotel in Washington, D.C. during the annual Minority Enterprise Development (MED) Week Conference. U.S. Deputy Secretary of Commerce Dennis Hightower and MBDA National Director David A. Hinson will participate in the awards presentation.

    “Dick Rizzo’s leadership is the guiding force behind the success of Perini’s diversity initiatives,” Hinson said.  “It is his vision and commitment behind Perini’s choice to include minority-owned firms in their global supply chain, and we are proud to honor him for his lifetime dedication to the success of the minority construction industry.”

  • Submitted on 23 August 2010

    Conference to Help Expand Global Reach For Minority-Owned Firms

    WASHINGTON (July 26, 2010) -- The Minority Business Development Agency (MBDA) kicks off its 28th annual National Minority Enterprise Development (MED) Week Conference today at the Omni Shoreham Hotel in Washington, D.C.  The conference will focus on “Strategies for Growth and Competitiveness in the Global Economy.” More information about the conference can be found at

    Throughout MED Week, attendees will receive information on the President’s National Export Initiative and develop skills to become export ready.  In addition, sessions are aimed at increasing opportunities for minority-owned firms in federal contracting, as well as contract opportunities for Haiti reconstruction.  The week will culminate with an awards gala Friday night where MBDA and the Small Business Administration will honor minority-owned firms for their excellence.

  • Submitted on 13 August 2010

    2010 National Minority Business Award Winners to be Honored During
    This Month’s National MED Week Conference

    Washington (August 12, 2010) – The Minority Business Development Agency (MBDA) proudly announces the National Minority Business Award winners. Recipients will be honored at an awards gala on August 27, 2010 from 7:00 pm to 10:00 pm at the Omni Shoreham Hotel in Washington, D.C. during the National MED Week Conference.

    “Minority-owned firms continue to play a critical role in the recovery of our economy,” said MBDA National Director David A. Hinson. “The businesses we recognize through these awards have created jobs, expanded the local tax base, given back to their communities, and most importantly, are models for sharing best practices with the rest of the minority business community.”

    The National Minority Business Awards are designed to celebrate and recognize the outstanding achievements of minority entrepreneurs based on the challenges their business has overcome, its total revenues, total jobs created, and the economic impact the business has had on its community. MBDA also recognizes individuals and organizations that have demonstrated leadership and commitment in advancing the minority business community.

  • Submitted on 04 August 2010

    Training and education will increase minority entrepreneurs’ access to contracts and capital


    Washington, D.C. (July 31, 2010) The Minority Business Development Agency (MBDA) and the National Urban League have joined forces to expand opportunities for minority entrepreneurs. MBDA and NUL will pool their collective resources to support the growth of minority-owned firms located in Atlanta, Chicago, Cleveland, Cincinnati, Jacksonville, Kansas City, Los Angeles, New Orleans and Philadelphia.

    “MBDA looks forward to working with the National Urban League to increase our reach to minority entrepreneurs and help them grow to size and capacity,” said MBDA National Director David A. Hinson. “Our 46 centers around the nation are working diligently to provide avenues for minority businesses to grow and compete. The League’s Entrepreneurship Center Program will help us reach minority-owned firms in areas where we currently don’t have a presence and service more minority entrepreneurs in communities where we do.”

  • Submitted on 19 July 2010

    July 13, 2010 - The U.S. Commerce Department’s Minority Business Development Agency (MBDA) and the U.S. Census Bureau today announced that the number of minority-owned firms increased by 46 percent to 5.8 million between 2002 and 2007 according to data from the Preliminary Estimates of Business Ownership by Gender, Ethnicity, Race and Veteran Status: 2007, from the U.S. Census Bureau’s 2007 Survey of Business Owners.

     “It is encouraging that the minority business community is growing and making progress relative to all U.S. firms, but economic parity remains elusive,” MBDA’s National Director, David A. Hinson said. “While the number of minority-owned businesses continues to grow, they are still smaller in size and scale compared to non-minority-owned firms.”

  • Submitted on 19 July 2010

    Wednesday, May 12, 2010:  MBDA and Asian Chamber of Commerce of Louisiana Host Town Hall for Minority-Owned Businesses Affected by Deep Water Horizon Incident

    The Minority Business Development Agency (MBDA) and the Asian Chamber of Commerce of Louisiana will host a town hall meeting with Vietnamese community-based organizations and local business development organizations, the Small Business Administration Disaster Relief Team, and others to share information with fishermen, shrimpers and crew members, and to discuss their rights and privileges as minority business owners in the aftermath of the DeepWater Horizon incident.                

  • Submitted on 19 July 2010

    Oakland, CA (March 1, 2010) MBDA National Director David A. Hinson will join Oakland, CA Mayor Ron Dellums, U.S. Representative Barbara Lee and officials from the White House, the U.S. Housing and Urban Development (HUD), the Department of Transportation (DOT) and the U.S. Small Business Administration to discuss the opportunities for minority-owned firms in the Bay area provided through the Recovery Act on Monday, March 1 at 9:30am. 

    “MBDA, along with our strategic partners, is committed to ensuring that minority-owned firms are able to secure contracts and grants made possible through the Recovery Act.  From modernizing inland ports to greening public housing here in Oakland, minority-owned firms are qualified and capable to work on these, and many other projects.  Minority-owned firms create jobs and build wealth in our communities.  The success of these firms directly affects the success of the U.S. economy,” said MBDA National Director David A. Hinson.

  • Submitted on 19 July 2010

    Washington (February 2, 2010) - President Barack Obama’s fiscal year (FY) 2011 budget submitted today to Congress for the U.S. Commerce Department’s Minority Business Development Agency (MBDA) includes $32.3 million for MBDA to promote the growth and global competitiveness of minority-owned businesses across the nation. President Obama’s 2011 Budget request compares to $31.5 million in MBDA’s 2010 budget.

    Having steered the economy back from the brink of a depression, the administration is committed to moving the nation from recession to recovery by sparking job creation to get millions of Americans back to work and building a new foundation for the long-term prosperity for all American families. To do this, MBDA’s 2011 budget makes critical investments in key areas that will help create jobs and strengthen the conditions for economic growth by promoting exports, clean energy and green industries. Minority-owned firms play a significant role creating job opportunities for all Americans and are twice as likely to generate sales through exports compared to non-minority firms.

  • Submitted on 15 July 2010

    Washington, D.C. (January 29, 2010) – Access to capital remains one of the most important factors limiting the success of minority-owned businesses, inhibiting their ability to grow and create new jobs, according to a new report released today by the U.S. Commerce Department’s Minority Business Development Agency (MBDA). But minority-owned businesses do continue to be the engine of employment in emerging and minority communities. “Disparities in Capital Access Between Minority and Non-Minority-Owned Businesses: The Troubling Reality of Capital Limitations Faced by MBEs” found that despite limited access to capital, total unemployment during the last recession in 2001 would have been even higher if not for the minority-business community. 

  • Submitted on 07 October 2009

    Seven Local Centers Receive Funds

    Washington, D.C. (October 6, 2009) – The U.S. Commerce Department’s Minority Business Development Agency (MBDA) today allocated a total of $900,000 to seven minority business centers across the country to increase minority business access to American Recovery and Reinvestment Act (ARRA) contracting opportunities.

    “Minority-owned firms play a significant role in the nation’s economic growth,” MBDA National Director David Hinson said. “President Obama and the entire Administration are committed to ensuring that minority businesses receive their fair share of contracts in rebuilding our economy. This effort is designed to put them into a position to do just that.”