Posted at 7:00 AM
WASHINGTON (January 14, 2014) —The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) announced today record-breaking performance in helping its clients create jobs, gain access to capital, and receive contract support in fiscal year (FY) 2013.
During FY13, MBDA assisted minority-owned businesses in obtaining more than $4.8 billion in capital and contract awards, which led to the creation and/or retention of 25,704 jobs, the highest performance level in the Agency’s 45-year history.
“These FY13 figures illustrate the crucial role MBDA continues to play in helping minority-owned businesses create jobs and strengthen local communities nationwide. This outstanding performance is a hallmark of the Obama administration’s efforts to help strengthen small and medium-sized businesses, which are fueling our economic recovery,” said David A. Hinson, MBDA’s National Director.
MBDA’s performance in FY13 builds on success achieved during the first term of the Obama administration. From FY09 to FY13, MBDA helped minority-owned businesses obtain $19.4 billion in contracts and capital, which led to the creation and/or retention of 58,752 jobs.
A detailed Annual Performance Report for FY13 will be released in the near future.
About the Minority Business Development Agency (MBDA)
MBDA, www.mbda.gov, is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority-owned businesses. Our programs and services better equip minority-owned firms to create jobs, build scale and capacity, increase revenues and expand regionally, nationally and internationally. Services are provided through a network of MBDA Business Centers.