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News and Announcements

  • Submitted on 29 November 2010

    The U.S. Bureau of Labor Statistics just released the latest details on the American job market. The report mixed good news with bad — private-sector firms created 159,000 new jobs in October, but the unemployment rate remains persistently high, at 9.6 percent.

    Policymakers continue to search for ways to help those looking for work to find jobs. The minority business community should be at the center of that conversation.

    Minority firms have been an engine of job growth for the U.S. economy in recent years, outpacing growth within the general business community for most of the last decade.

  • Submitted on 18 November 2010

    National Deputy Director CastilloImpact and influence were among the key criteria used to rank Alejandra Castillo, MBDA’s National Deputy Director, among the 100 Most Influential Hispanics in America. She recently received the honor from Hispanic Business magazine. Its special issue highlighted Castillo among others in, “The 100 Influentials: Spotlight on Thought Leaders.”

    “This is a great honor and MBDA is extremely proud of Ms. Castillo,” said MBDA National Director David A. Hinson. “She continues to make her mark in government and in touching a significant number of minority business owners through her diligent work.”

  • Submitted on 01 October 2010

    National Deputy Director Castillo

    Good Afternoon. 

    I want to thank our hosts for inviting the Minority Business Development Agency, a sister bureau of the Census Bureau, to be a part of today’s important announcement.

    The Minority Business Development Agency is thrilled that the Hispanic business community, and the minority business community as a whole, is showing a significant rate of growth compared to non-minority businesses.

    The figures released today show that Texas is a major contributor to the surge in the creation and growth of Hispanic-owned firms nationwide.  You can be proud to be a leader in Hispanic entrepreneurship, job creation, and business prosperity.

  • Submitted on 21 September 2010

    Hispanic-Owned Firms Outpace Growth of Non-Minority-Owned FirmsThe number of Hispanic-owned businesses increased nearly 44 percent to 2.3 million between 2002 and 2007, more than twice the national average of all U.S. businesses.  The total number of U.S. businesses during the same period increased 18 percent to 27.1 million.  

    But if parity were reached, there would be 3.4 million Hispanic-owned firms generating $1.4 trillion in gross receipts and employing 7.5 million workers.

    • Between 2002 and 2007, the number of Hispanic firms grew by 44 percent to 2.3 million firms, compared to 18 percent for all U.S. firms, and compared to 18 percent growth for the Hispanic population during the same period.

    • Hispanic-owned firms employed approximately 1.9 million workers in 2007, up from 1.5 million in 2002, increasing at a rate of 26 percent compared to no change at non-minority-owned firms.

    • Receipts for Hispanic-owned firms increased 56 percent to approximately $345 billion.

  • Submitted on 26 August 2010

    August 27, 2010

    Tonight I will proudly present the National Minority Business Awards. Recipients will be honored at an awards gala from 7:00 pm to 10:00 pm at the Omni Shoreham Hotel in Washington, D.C. during the National Minority Enterprise Development (MED) Week Conference.

    Minority-owned firms continue to play a critical role in the recovery of our economy. 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 26 August 2010

    U.S. Transportation Secretary LaHood Announces $11.6 Million in Grants for Minority- and Women-Owned Businesses
    Resources will Help Small Businesses Compete for Federal Highway Contracts

    WASHINGTON - U.S. Transportation Secretary Ray LaHood today announced $11.6 million in grants to help disadvantaged business enterprises (DBEs) compete for federal highway contracts in 30 states and Puerto Rico.

    “Giving these small businesses the assistance they need to compete for federal highway contracts creates jobs and ultimately helps taxpayers by reducing project costs,” said Secretary LaHood. “Any way you look at them, these grants are a ‘win-win’ for the American people.”

  • Submitted on 24 August 2010

    Global Reach of Minority-Owned Businesses“Minority-owned business export activity spans 41 countries across the globe,” said David Hinson, National Director of the Minority Business Development Agency (MBDA) today during the 28th Annual Minority Enterprise Development (MED) Week Conference, in Washington, D.C.   MBDA’s analysis of data from the U.S. Export Bank and the U.S. Census Bureau on minority-owned business export activity and growth was released by MBDA during the MED Week Conference.  The focus of the conference, entitled “Strategies for Growth and Competitiveness in the Global Economy,” is to promote the global reach and export sales of minority-owned businesses.

  • Submitted on 24 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.


  • Submitted on 13 August 2010

    Recently, MBDA and the U.S. Census Bureau 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,” says MBDA National Director David A. Hinson.  “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 13 August 2010

    Each year, the President of the United States proclaims a National Minority Enterprise Development (MED) Week to formally recognize minority-owned businesses for their professional achievements and their contributions to the Nation’s economy. 

    The National MED Week Conference, hosted by the Minority Business Development Agency (MBDA), is the largest federally sponsored event held to spotlight minority business development. This hallmark event brings together nearly 2,000 minority-owned businesses from across the country to participate in a series of educational, training, and business to business matchmaking events designed to help grow and thrive in a continually changing economy.


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