Sign up to receive news and updates
HOME   |   CONTACT    Facebook Twitter LinkedIn Google+ Subscribe to MBDA Newsletter

You are hereHome > Press Releases > Press Releases

Press Releases


  • Submitted on 22 September 2015

    FOR IMMEDIATE RELEASE
    September 22, 2015
    Contact: Velicia Woods
    Email: vwoods@mbda.gov

     

     

    WASHINGTON (September 22, 2015) The U.S. Department of Commerce Minority Business Development Agency (MBDA) today announced the 2015 National Minority Enterprise Development (MED) Week Award winners – 14 organizations, businesses, and individuals who demonstrate leadership and commitment in advancing the minority business community. For more than 30 years, MBDA has led the MED Week Celebration.  This year, MBDA is honored to continue the MED Week tradition in partnership with the National Minority Supplier Development Council, Inc. (NMSDC).  The awards reception will take place at the 2015 NMSDC Conference and Business Opportunity Exchange on October 20 in San Diego, CA.

    “This year’s MED Week awardees exemplify growth, diversity and transformation, and are true champions for the minority business community,” said Alejandra Y. Castillo, MBDA National Director. “We’re very proud of their tremendous achievements in impacting the national economy through innovation, job, and wealth creation.”

    The awards are designed to celebrate and recognize outstanding achievements of minority entrepreneurs based on the challenges the business has overcome, total revenue, jobs created and the economic impact the business has had on their community. MBDA also recognizes individuals and organizations that have demonstrated leadership and commitment to the advancement of the minority business community.

  • Submitted on 19 August 2015

    FOR IMMEDIATE RELEASE
    August 19, 2015
    Contact: Velicia Woods
    Email: vwoods@mbda.gov

     

     

    Growth Rate of Minority-owned Firms and Nonminority-Owned FirmsWASHINGTON (August 19, 2015) — The U.S. Census Bureau released preliminary results from the 2012 Survey of Business Owners (SBO)[1] yesterday and minority-owned businesses continue to grow significantly faster than nonminority-owned businesses. The number of minority business enterprises (MBEs) increased 39 percent between 2007 and 2012[2] (from 5.8 million to 8.0 million), or more than three times faster than population growth among minorities. Employment at minority-owned firms increased 33 percent to 7.7 million jobs, while gross receipts were up 53 percent from 2007. In contrast, the number of non-minority firms shrank by five percent between 2007 and 2012.  Employment at nonminority firms increased seven percent, or less than one-fourth as fast as in MBEs and receipts in nonminority firms increased 27 percent or half as fast as in MBEs,

  • Submitted on 29 July 2015

    FOR IMMEDIATE RELEASE
    July 29, 2015
    Contact: MBDA Public Affairs
    Email: MBDAPublicAffairs@mbda.gov

     

     

    WASHINGTON (July 29, 2015) — Today, the U.S. Department of Commerce’s Minority Business Development Agency (MBDA) released its Annual Performance Report for FY 2014, during which the Agency saw an overall 45% increase in client contract and capital transactions. The reported $6.9 billion in client contracts and capital far surpasses the amount MBDA Business Centers achieved in FY 2013 and led to the creation and retention of nearly 31,000 jobs. Much of the increase came from export businesses, which benefits from the Obama Administration’s focus on international markets as strategy for business growth and job creation.

    MBDA’s FY 2014 performance builds on the success of its 45-year history and sets the stage for future years to come. These achievements reflect MBDA’s mission to support minority-owned firms as critical contributors to our economy. By the year 2044, minorities will become the majority of the U.S. population. “This change in America’s demographic landscape will transform the marketplace and the face of American business and presents an incredible opportunity for American commerce,” said Alejandra Castillo, MBDA National Director. “This is the work of MBDA in the next 45 years – equipping minority entrepreneurs and leveraging their natural strengths in both domestic and global markets; helping them build capacity and expertise; engaging them in technological innovation; and diversifying the industries they will enter.”

  • Submitted on 19 March 2015

    FOR IMMEDIATE RELEASE
    March 19, 2015
    Contact: Al Betancourt - MBDA Public Affairs
    Email: abetancourt@mbda.gov

     

     

    WASHINGTON (March 19, 2015) —The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) and CEO Connection have entered into a Memorandum of Understanding (MOU) aimed at helping U.S. minority CEOs grow through enhanced access to resources and economic opportunities. 

  • Submitted on 04 December 2014

    FOR IMMEDIATE RELEASE
    December 4, 2014
    Contact: Al Betancourt - MBDA Public Affairs
    Email: abetancourt@mbda.gov

     

     

    WASHINGTON (December 4, 2014) —The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) and the Initiative for a Competitive Inner City (ICIC) have entered into a Memorandum of Understanding (MOU) aimed at increasing referrals between the two entities and ultimately increasing economic opportunities for minority-owned businesses.

  • Submitted on 16 October 2014

    FOR IMMEDIATE RELEASE
    October 16, 2014
    Contact: Al Betancourt - MBDA Public Affairs
    Email: abetancourt@mbda.gov

     

     

    WASHINGTON (October 16, 2014) —The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) and the National Association of Minority and Women-Owned Law Firms (NAMWOLF) have entered into a Memorandum of Understanding (MOU) aimed at increasing economic opportunities presented to minority-owned law firms, while also assisting minority business enterprises in accessing quality legal services.

    “This partnership provides an ideal avenue through which MBDA can expand its services to minority-owned firms in the professional services industry,” said MBDA National Director Alejandra Y. Castillo. “It also supports our continued effort in helping to grow, transform and diversify our minority business community.” 

    MBDA maintains a national network of 44 Business Centers equipped with specialists that help the nation’s minority-owned firms grow through access to capital, contracts, and new markets. NAMWOLF is a nonprofit trade association comprised of minority and women-owned law firms and other interested parties throughout the United States. NAMWOLF has a membership of 130 law firms across 35 states.

  • Submitted on 02 October 2014

    FOR IMMEDIATE RELEASE
    October 2, 2014
    Contact: Al Betancourt - MBDA Public Affairs
    Email: abetancourt@mbda.gov

     

     

    WASHINGTON (October 2, 2014) —Thanks to savings derived from a multi-year strategy to reduce administrative and operational overhead costs, the U.S. Department of Commerce’s Minority Business Development Agency (MBDA) today announced a supplemental investment of $1.425 million to nine existing MBDA Business Centers. The funds will support the Business Centers in their efforts to better serve minority business communities nationwide.

    “At MBDA our goal is to expand the Agency’s reach, expertise, and resources to serve as many minority business enterprises through our national network of MBDA Business Centers,” said Alejandra Y. Castillo, MBDA National Director. “These supplemental funds will ensure that we provide greater assistance to minority-owned businesses to support job creation and the continued growth of the U.S. economy.”

  • Submitted on 01 August 2014

    FOR IMMEDIATE RELEASE
    August 1, 2014
    Contact: Al Betancourt - MBDA Public Affairs
    Email: abetancourt@mbda.gov

     

     

    Seattle Small Business Owner Albert Shen to Serve in Agency’s Second-Highest Position

    WASHINGTON (August 1, 2014) — Alejandra Y. Castillo, National Director of the Minority Business Development Agency (MBDA), today announced the appointment of Albert Shen to serve as MBDA’s National Deputy Director. Shen is a Washington state native whose leadership and community advocacy has had a tremendous impact on many economic projects in the Northwest.

    “The success of minority-owned businesses is fundamentally essential to our nation’s economic vitality,” said Castillo. “MBDA works diligently in laying the foundation that is giving rise to the fastest growing segment of the business community. I am very confident that Albert will continue to maximize these opportunities and be a great asset to our MBDA team.”

    Shen, a second generation Chinese-American, grew up in Pullman, Wash., where his family owned several minority businesses. In 2000, he founded Shen Consulting, where he played an instrumental role in projects such as the Port of Seattle’s Seattle Tacoma International Airport Capital Improvement Program and numerous other capital programs in the greater Seattle area.

  • Submitted on 28 July 2014

    FOR IMMEDIATE RELEASE
    July 28, 2014
    Contact: Al Betancourt - MBDA Public Affairs
    Email: abetancourt@mbda.gov

     

     

    U.S. Deputy Commerce Secretary Andrews, MBDA National Director Castillo will also deliver remarks at event

    WASHINGTON (July 28, 2014) —As part of the Minority Business Development Agency’s (MBDA) continued collaboration with the U.S. Small Business Administration (SBA), MBDA announced today that SBA Administrator Maria Contreras-Sweet will speak at the 2014 National Minority Enterprise Development (MED) Week Conference in Washington, D.C. on August 1. U.S. Deputy Secretary of Commerce Bruce Andrews and MBDA National Director Alejandra Y. Castillo will also speak during the conference.

    As one of the longest running Minority Business Enterprise events in the United States, the National MED Week Conference recognizes outstanding achievements of leading minority entrepreneurs and organizations while positioning business owners for opportunities that drive growth.

  • Submitted on 09 July 2014

    FOR IMMEDIATE RELEASE
    July 9, 2014
    Contact: Al Betancourt - MBDA Public Affairs
    Email: abetancourt@mbda.gov

     

     

    WASHINGTON (July 9, 2014) —The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) today announced the 2014 National Minority Enterprise Development (MED) Week Award winners – 13 organizations, businesses and individuals who have demonstrated leadership and commitment in advancing the minority business community. MBDA will honor the winners during a special ceremony at the annual MED Week Conference on August 1 in Washington, D.C. 

    “This year’s MED Week awardees exemplify growth, diversity and transformation, and are true champions for the minority business community,” said Alejandra Y. Castillo, MBDA National Director. “We’re very proud of their tremendous achievements in helping grow the national economy through innovation, job and wealth creation.”

 

Quote: The Best Way to get something done is to begin.

Upcoming Events

[Within 45 days]
06/19/2016 (All day) - 06/21/2016 (All day)
06/20/2016 (All day) - 06/23/2016 (All day)

What MBDA Does