Minority Business Development Agency Aims to Increase Success of Minority-Owned Firms in Marine Aquaculture

for immediate release

The U.S. Department of Commerce’s Minority Business Development Agency is announcing $400,000 in grant funding to the Florida State Minority Supplier Development Council (FSMSDC) to ensure that minority business enterprises (MBEs) have a significant presence in this critical domestic market. Aquaculture is fastest growing form of food production in the world. U.S. aquaculture production is worth just $1 billion annually, a comparatively small portion of the $70 billion world market.

“The growing aquaculture industry provides tremendous potential for U.S. economic growth through domestic markets and global food supply chains,” said MBDA National Director Henry Childs II. “MBEs in the seafood industry throughout the Gulf States and the broader U.S. have a real opportunity to scale up and meet the high demand for seafood and aquatic needs of global consumers.”

The FMSDC will partner with the Southern Region Minority Supplier Development Council and will also work closely with the University of Miami, Rosenstiel School of Marine and Atmospheric Science to train and mentor business owners in aquaculture industries.

These programs are part of the 2018 MBDA Broad Agency Announcement, a new initiative this year. More than $13 million was awarded for 35 projects focused on Department of Commerce and MBDA priorities from resources that increase disaster preparedness and relief to programs that increase access to capital. For a full listing of MBDA’s 2018 grant awards, visit www.mbda.gov/news.

About the Minority Business Development Agency (MBDA)
MBDA 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. For nearly 50 years, MBDA has been a dedicated strategic partner to all U.S. minority-owned businesses, committed to providing greater access to capital, contracts, and markets. For more information about MBDA visit www.mbda.gov