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.”
More information about MBDA’s 45 years of service and detailed FY 2014 achievements can be found in the commemorative 45th Anniversary Annual Performance Report here.
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. After 45 years of service, MBDA continues to be a dedicated strategic partner to all U.S. minority-owned businesses, committed to providing programs and services that build size, scale and capacity through access to capital, contracts and markets. Follow us on Twitter @usmbda.