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News and Announcements

  • Submitted on 22 September 2011

    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.

  • Submitted on 22 September 2011

    Alejandra CastilloMinority-owned businesses, including Hispanic-owned businesses, are the backbone of our nation’s economy and an engine of job creation and exports. Hispanic and other minority-owned businesses have been growing at a much faster pace and creating millions of jobs for Americans.

    Most recent data from the U.S. Census Bureau shows that there are 6 million minority-owned businesses, of which more than 2 million are Hispanic owned. Although employment declined by 1 percent among non-minority-owned businesses between 2002 and 2007, it has continued to grow at a faster pace among minority- and Hispanic-owned firms -- by 24 percent in a wide variety of industry sectors, and gross receipts increased by 55 and 58 percent for minority- and Hispanic-owned firms respectively during that same period.

    While we are living in challenging economic times and too many Americans are experiencing unacceptably long periods of unemployment, particularly among Hispanics and African Americans, minority- and Hispanic-owned businesses are at the center of our nation’s economic expansion.

  • Submitted on 02 September 2011

    Check presentationCleveland 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.

  • Submitted on 02 August 2011

    Alejandra CastilloMBDA National Deputy Director Alejandra Castillo gave the keynote address at the annual meeting of the Billion Dollar Roundtable (BDR) last week held in Seattle, Washington. Committed to supplier diversity, BDR is made up of 18 large firms who pledge to spend at least $1 billion contracting with minority-owned businesses.

    At the event BDR recognized its newest inductee Microsoft and Johnson and Johnson, the first healthcare company to join.

    Deputy National Director Castillo congratulated the BDR for their leadership and highlighted the benefits, as well as the business imperative for our Nation, to cultivate a strong, diverse supply chain and the importance of minority business growth through 21st-century strategies, like joint ventures, merger and acquisition.

    MBDA has encouraged minority businesses to pursue these growth strategies in order to achieve scope and scale in a dynamic global economy. BDR has been a strong ally in helping minority firms develop strategic partnerships. In fact some of their members, such as IBM and Walmart, are sponsors of this year’s Minority Enterprise Development (MED) Week Conference.

  • Submitted on 01 August 2011

    Download APR 2010In the 2011 State of the Union address, President Obama asked every American to take steps to ‘Win the Future’ by out-innovating, out-educating and out-building our global competitors. It is in the spirit of winning our future through the minority business community that I present to you the 2010 Annual Performance Report of the Minority Business Development Agency.

    The Minority Business Development Agency (MBDA) of the United States Department of Commerce is the only federal agency tasked to create new jobs by expanding the U.S. economy though the nation’s 5.8 million minority-owned and operated businesses. The minority business community accounts for over $1 trillion in economic output to the nation and provides nearly six million jobs for U.S. citizens.

    MBDA experienced record performance in 2010. The Agency created 6,397 new jobs by assisting minority-owned companies in obtaining nearly $4 billion in contracts and capital, an historic high. During the first two years of the Obama Administration, MBDA created nearly 11,000 new jobs and saved tens of thousands of existing jobs while helping minority-owned firms obtain nearly $7 billion in contracts and capital.

    The success of MBDA is directly attributable to the dedication of our management team, staff and business centers across the nation. During a year where minority-owned firms continued to face the duel challenges of restricted credit access and a slow domestic economy, we have been singularly focused on assisting minority-owned businesses grow. These businesses are particularly valuable to the economy because they create jobs in communities with high levels of unemployment. In addition, they make significant contributions to the national innovation base and represent a powerful long-term contributor to exports, as minority-owned businesses are twice as likely to export as non-minority owned businesses.

  • Submitted on 15 July 2011

    The Minority Business Development Agency (MBDA) inaugurated the Denver MBDA Business Center during an open house and reception held at the Denver Metro Chamber of Commerce Building on June 28, 2011.

    Denver Mayor Guillermo (Bill) V. Vidal, Congresswoman Diana DeGette (D-CO), along with corporate supplier diversity representatives, chamber members, government agency representatives, and a broad array of minority business owners were in the audience of more than 140 people for the launch of the MBDA Business Center.

  • Submitted on 15 July 2011

    Percent Change in the Number of Firms for Men and Women Owned Businesses by Race and Ethnicity: 2002 – 2007In 2007, minority-owned firms numbered 5.8 million, up from 4.0 million in 2002, an increase of 45.5 percent, more than double the 17.9 percent increase for all U.S. businesses, according to the U.S. Census Bureau's 2007 Survey of Business Owners. Receipts of minority-owned firms increased 55.0 percent to $1.0 trillion over the five-year period, compared with the 32.9 percent increase for all businesses nationwide. In 2007, more than one-fifth (21.3 percent) of the nation's 27.1 million firms were minority-owned.

  • Submitted on 28 June 2011

    U.S. Health and Human Services Secretary Kathleen Sebelius delivered the keynote address at the 2011 Minority Business Roundtable Annual Meeting in Washington, D.C. This year's meeting, held in support of the White House Initiative on Small Business Contracting, brings together small and minority business leaders from across the country. Secretary Sebelius addressed the benefits awarded to small businesses under the Affordable Care Act, enabling them to better ensure their employees and contribute to the overall health and prosperity of America’s workforce.

    Read the full transcript of Secretary Sebelius’s remarks

  • Submitted on 28 June 2011

    The path to contracting and financing for minority-owned business is widening with the new Denver Minority Business Center opening Wednesday.

    In April, the Rocky Mountain Minority Supplier Development Council won a five-year, $1.2 million grant from the federal government to establish the business center and foster economic growth of minority-owned businesses.

    The initial $243,359 award for this year is part of a $7.8 million grant awarded to 27 Minority Business Development Agency business centers across the country.

    The Development Council will house and operate the new business center in the Denver Metro Chamber of Commerce building at 1445 Market St.

  • Submitted on 28 June 2011

    The federal government awarded nearly $100 billion in federal contracts to small businesses in Fiscal Year (FY) 2010, showing an increase in federal prime contract dollars to small businesses for the second straight year after four years of decline.

    The U.S. Small Business Administration announced today that in FY 2010 (Oct. 1, 2009 – Sept. 30, 2010), small businesses won a record $97.95 billion in federal contracts, or 22.7 percent of eligible contracting dollars.  This marks the largest single year increase in more than five years, and is a significant improvement over FY 2009, when 21.9 percent of contracting dollars were awarded to small businesses.

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