Posted at 7:00 AM
WASHINGTON — The U.S. Department of Commerce, Minority Business Development Agency, announced the winners of the Agency’s Advanced Manufacturing Project. The winners are Georgia Tech Research Corporation, Atlanta, GA ($250,000); City of Baltimore, Baltimore, MD ($250,000); Michigan Minority Supplier Development CouncilDetroit, MI ($250,000); and the University of Texas at San Antonio, San Antonio, TX ($250,000). The four cooperative agreements total $5 million and will be distributed over a 5-year period.
“Congratulations to all of our winners,” said MBDA National Director Alejandra Y. Castillo. “These projects will support minority-owned businesses, specifically in the area of advanced manufacturing. This funding also allows MBDA the opportunity to partner with these organizations to advance the growth of our MBEs in the areas of innovative technology and create high quality manufacturing jobs.”
The advanced manufacturing projects provide targeted assistance to minority manufacturers to increase the number of “Made in America” products that can be sold domestically and globally. The projects also designed to help identify, screen, promote, and refer minority business enterprises (MBEs) to specialized advanced manufacturing programs, and provide technical and business development services.
According to data from the U.S. Census Bureau’s 2012 Survey of Business Owners, the number of minority-manufacturers increased 30 percent between 2007 and 2012 to nearly 107,000. These firms generated $80 billion in annual receipts in 2012. Twenty-five thousand minority manufacturers employ almost 332,000 workers. The project is part of the Agency’s commitment to ensuring minority businesses are playing an integral part in keeping the ‘Made in America’ product strong as the U.S. manufacturing sector continues to rise.
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 47 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.