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  • Submitted on 28 February 2013


    Abraham Venable, GM’s Envoy to Black-Owned Business, Dies at 82

    Abraham VenableAbraham S. Venable, who oversaw General Motors Corp.’s outreach to black-owned businesses during the 1970s and 1980s after what he called a frustrating attempt to get government to help them, has died. He was 82.

    He died on Feb. 21 at an assisted-living facility in St. Paul, Minnesota, according to his son, Douglas. The cause was congestive heart failure.

    As GM’s head of urban affairs, a post he held from 1971 to his retirement in 1990, Venable coordinated the Detroit-based company’s programs to increase its business with minority-owned banks, insurers, suppliers and dealerships. GM was then the world’s largest automaker.

    He also was vice president of a GM unit known as a Mesbic, or Minority Enterprise Small Business Investment Co., which functioned as a lender to minority-owned businesses.

  • Submitted on 03 January 2013

    Fiscal Year (FY) 2012 was an extremely productive year at MBDA and we are excited to share some of our many achievements. We’ve completed a major organizational restructuring that enabled us to increase funding to MBDA Business Centers.  We also launched several “specialty” MBDA Business Centers including: the Atlanta MBDA Business Center, which is now staffed to provide expert guidance for minority-owned businesses in the healthcare technology and advanced manufacturing industry sectors; the San Antonio MBDA Business Center that has expanded their services to include expertise in exporting to Latin America; and the MBDA Federal Procurement Center, the first MBDA Business Center to solely focus on federal contracting.

  • Submitted on 29 August 2011

    Online Registration

    The Minority Business Development Agency, in partnership with the U.S. Small Business Administration, announced the opening of registration for the 2011 Minority Enterprise Development Week (MED Week) Conference, which will be held Sept. 27-30 at the Marriott Wardman Park Hotel in Washington, D.C.  

  • Submitted on 15 July 2011

    John Fernandez, Assistant Secretary for Economic DevelopmentMayors across the country are working hard to strengthen local economic ecosystems, given the economic challenges cities face today.

    As a former Mayor myself, I understand those challenges – How do we create more jobs? How do we attract new businesses? How do we enhance our workforce? And equally as important, how do we leverage the state and federal resources that may be available to help us achieve our economic goals and objectives?

    The Obama administration understands these challenges and knows that cities play a vital role in strengthening our nation’s economy.  

    We are finding ways to be a better partner, and that is why today the administration launched the Strong Cities, Strong Communities (SC2) initiative in Fresno, Calif., and five other cities: Chester, PA; Cleveland, OH; Detroit, MI; Memphis, TN; and New Orleans, LA.

    We know that development happens from the bottom up - that the best ideas come from America’s communities. Whether investment comes from the federal government, states, the private sector, or ideally all of the above, resources do more good when they serve a well-developed, robust plan.

  • Submitted on 15 July 2011

    The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) hosts a symposium on the Living Cities Integration Initiative. On July 7, 2011 the U.S. Department of the Treasury hosted a symposium to discuss economic revitalization through investment in community development financial institutions (CDFIs).

    The event was a partnership between the Treasury’s Community Development Financial Institutions Fund and Living Cities, and the focus was on the role of CDFIs in the Living Cities Integration Initiative

    The CDFI Fund supports financial institutions that provide loans, investments, and technical assistance to underserved communities. Since its creation has awarded $1.11 billion to community development organizations and financial institutions. It has awarded allocations of New Markets Tax Credits, which will attract private-sector investments totaling $26 billion, including $1 billion of special allocation authority to be used for the recovery and redevelopment of the Gulf Opportunity Zone.

  • Submitted on 27 August 2010

    On behalf of the Minority Business Development Agency we extend our sincere thanks to you for supporting our MED Week 2010.  We had a phenomenal time and we hope you did too.

    We look forward to seeing you at our conference next year

    View available conference presentations.

  • Submitted on 24 August 2010

    The Minority Enterprise Development (MED) Week Conference is the nation’s premier event for minority entrepreneurs and business owners. The MED Week Conference helps minority-owned firms grow both domestically and globally through a series of educational, training and business to business networking events. Each year, nearly 1,500 minority business owners, government officials and corporate representatives attend MED Week events.

  • Submitted on 23 August 2010

    2010 Presidential Proclamation -MED WeekSince our Nation's founding, the United States has been a beacon of economic opportunity and limitless possibility.  America's strength and resiliency have relied on the vision of our entrepreneurs and small business owners, whose tireless work ethic has defined the character of our country.  During Minority Enterprise Development Week, we celebrate the millions of minority business owners whose firms generate jobs, strengthen our economy, and embody the entrepreneurial spirit of America.

     Even in the toughest of times, America has been characterized by the belief that anyone with a good idea and enough hard work can succeed and share those achievements with their employees and communities.  Today, as we emerge from a historic recession, many families and businesses face difficult economic challenges, and we must continue to prioritize job creation as part of a sustained recovery that works for all Americans.  Minority-owned and operated enterprises are essential to stabilizing our economy now, and laying a foundation for future economic growth and prosperity.

     Looking forward, we must continue to remove barriers so these businesses can create new employment opportunities, increase their capacity, and advance our long-term prosperity.  To achieve this goal, my Administration is committed to taking concrete steps to increase Government procurement opportunities for small and minority businesses.  By unleashing the energy and ingenuity of American entrepreneurs in the domestic and international marketplaces, we can generate millions of jobs here at home, open and expand new markets, reduce barriers to trade, and ensure strong and balanced economic growth.


  • Submitted on 20 August 2010

    Budget Authority and FTEThe Minority Business Development Agency (MBDA) actively promotes the ability of Minority Business Enterprises (MBEs) to grow and to participate in the global economy through a range of activities that include funding a network of centers that provide MBEs a variety of business assistance services.


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