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News and Announcements

  • 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.

  • Submitted on 22 June 2011

    SelectUSABusiness investment in America creates and supports millions of jobs, while generating economic growth and opportunities in communities throughout the United States.

    Today at the Business Round Table in Washington, D.C., we announced a new initiative – SelectUSA – the first-ever government-wide program to aggressively pursue and win new business investment in the United States by both domestic and foreign companies.

  • Submitted on 10 June 2011

    Group O, the optimization company that specializes in marketing operations, supply-chain and packaging solutions, is pleased to announce its sponsorship and participation in the White House Bi-State Minority Business Development Roundtable, organized by the Greater Quad Cities Hispanic Chamber of Commerce (GQCHCC).

    The event held yesterday at the i Wireless center featured keynote speaker Alejandra Castillo, national deputy director of the Minority Business Development Agency (MBDA), and involved the business community, including local, state, and federal government officials and agency representatives; Small Business Technical Assistance providers; Supplier Diversity & Procurement Officers; and other representatives.

  • Submitted on 09 June 2011

    Strengthening the economy domestically and internationally for small businesses is a big key to success, according to Alejandra Castillo, national deputy director of the Minority Business Development Agency, or MBDA.

    “We want small businesses to thrive and flourish,” she said this morning as the keynote speaker at the White House Bi-State Minority Business Development Roundtable at the i wireless Center, Moline. The event, hosted by the Greater Quad-Cities Hispanic Chamber of Commerce, also included roundtable discussions.

  • Submitted on 08 June 2011

    Mexicans are Largest Hispanic Group Nationwide and in 40 States

    On May 26, 2011 the U.S. Census Bureau released a 2010 Census brief on the nation's Hispanic population, which shows the Hispanic population increased by 15.2 million between 2000 and 2010 and accounted for more than half of the total U.S. population increase of 27.3 million. Between 2000 and 2010, the Hispanic population grew by 43 percent, or four times the nation's 9.7 percent growth rate.

    The Hispanic Population: 2010 brief looks at an important part of our nation's changing ethnic diversity with a particular focus on Hispanic origin groups, such as Mexican, Dominican and Cuban.

  • Submitted on 07 June 2011

    Minority Firm Ownership by Gender, 2007Many more minority men and women are embracing entrepreneurship, with minority females becoming entrepreneurs at a faster rate than any other group. Minority female-owned firms once again grew faster than all other groups of firms in number of firms, gross receipts and employment between 2002 and 2007.

    In 2007, there were about 5.8 million minority-owned firms, of which 2.2 million or 38% were owned by minority women primarily (with a 51 percent ownership rate) and 2.9 million or 51% firms were owned by minority men. The remaining 11% equally owned by minority women and minority men in 2007.

    African American female-owned firms grew the fastest than any other group of firms in number of firms by 67%, and in employment by 39 percent. Firms owned by Native Hawaiian and Other Pacific Islander women had the highest increase in gross receipts, with a 90 percent growth during the same period. Asian women-owned firms followed African American women-owned firms with the second fastest growth in number of firms and employment; and Hispanic female-owned firms ranked third in terms of growth in those two business measures during the same period.

  • Submitted on 01 June 2011

    Anna GomezAnna Gomez, Deputy Assistant Secretary for Communications and Information for the National Telecommunications and Information Administration, joined a group of Hispanic community development leaders in San Francisco to launch the Latino Tech-Net Initiative, a Recovery Act project spearheaded by the Mission Economic Development Agency, or MEDA, which is equipping 17 computer centers in 11 cities across the country with equipment, software, and training to help Latino entrepreneurs and small businesses build online skills, spur local economic development, and support job creation in their communities.

    The “digital divide” remains a serious issue for the Latino community, and MEDA is on the front lines of addressing this problem. Data from NTIA’s Digital Nation report show that the broadband adoption rate among Hispanic households is only 56.9 percent - more than ten percent lower than the overall national rate. In fact, even after adjusting for socioeconomic characteristics like income and education, Latino households significantly lag White households in broadband adoption.

  • Submitted on 25 May 2011

    Secretary Gary LockeEarlier today, I had the privilege of traveling with members of the President’s Council on Jobs and Competitiveness to visit Permac Industries, a small manufacturer just outside Minneapolis, Minn. Why Permac? Because the firm represents the best America has to offer – a company that has grown from a simple machine shop into a state-of-the-art facility that manufactures precision parts for customers worldwide in virtually all industries.

    I was glad to have a chance to talk about the Obama administration’s commitment to giving businesses like Permac the tools they need to win in the global economy. That effort is a two-pronged approach. On the one hand, we’re aggressively incentivizing investment here in America, as highlighted by key provisions that President Obama insisted be included in the December tax package, such as a new expensing benefit that will let companies write off 100 percent of their machinery and equipment purchases made in 2011.

  • Submitted on 24 May 2011

    Unprecedented initiative to bolster economic growth leverages resources of 16 federal agencies to create jobs and foster economic prosperity

    To accelerate innovation-fueled job creation and global competitiveness, today the Obama Administration announced a $33 million Jobs and Innovation Accelerator Challenge, an unprecedented initiative to spur economic growth through public-private partnerships in at least 20 regions around the country.

    The Challenge leverages existing resources from 16 federal agencies and will award funds to regions that demonstrate the existence of high-growth industries that support a wide range of economic and workforce development activities.

  • Submitted on 13 May 2011

    Nominations are now being accepted for the Minority Business Development Agency's 2011 Excellence in Minority Business Awards. The awards are designed to recognize exemplary minority businesses and their accomplishments and best practices.

    The MED Week Awards Program is designed to celebrate and recognize the outstanding achievements of minority entrepreneurs, as well as individuals and organizations that have demonstrated leadership and commitment in advancing minority business enterprise.  The diversity of the awardees, as it pertains to the constituency served by MBDA, is a key objective of the MED Week Awards Program.

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