Brings Global Businesses to the Community
Minority businesses are twice as likely to generate sales through exports compared to non-minority firms
MBDA promotes business-to-business partnerships between U.S. minority firms and firms in Asia, Africa, the Caribbean, Latin America and Europe
At the onset of the Obama Administration, the United States economy was losing 750,000 jobs per month and had endured eight straight months of declining employment. Despite this challenging economic environment, in FY2011 MBDA supported the creation of 5,787 new jobs by assisting minority-owned businesses in obtaining access to nearly $4 billion in contracts and capital — exceeding last year’s record level. During the first three years of the Obama Administration, MBDA facilitated a total of over 16,300 new jobs — an increase of 20% over the prior 3-year period.
Creates Competitive Businesses
Each MBDA center secures an average of $49M worth of contracts for minority firms; and our high performing centers secure more than $100M worth of contracts
MBDA is focused on increasing annual revenues for minority businesses from an average of less than $200,000 to more than $1 million
MBDA is building the foundation that helps to close the gap between minority-owned firms and non-minority owned firms through the creation of $100 million dollar minority-owned firms
Developing wealth in communities of color is the most effective means to secure personal and family well-being and reduce dependence on government services
Wealth creation provides an opportunity for more citizens to make philanthropic investments, engage in civic activities and increase retirement savings
Promotes Economic Investments
Each MBDA center secures an average of $18.8 M worth of financial investment in minority firms; and our high performing centers secure more than $50 M worth of investment
Successful minority businesses generate demand for community benefits such as transportation, infrastructure improvements, affordable housing and quality education
Profitable minority firms increase economic activity within a community. These firms patronize local restaurants and grocery stores, buy goods from other local businesses, sell innovative products to consumers and bank with local financial institutions
Performance Counts: In FY2011, MBDA assisted minority-owned businesses in obtaining $3.9 billion in contracts and capital. Between 2009 and 2011, MBDA achieved a Return on Taxpayer Investment (ROI) between 102x and 130x.