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Blog Category: Minority Business Development Agency

Hispanic-Owned Businesses Grow by More than Double the National Rate

The Commerce Department’s Minority Business Development Agency and U.S. Census Bureau today announced that the number of Hispanic-owned firms increased by nearly 44 percent between 2002 and 2007 from 1.6 million businesses to 2.3 million, according to new data released today from the U.S. Census Bureau’s 2007 Survey of Business Owners. Employment at Hispanic-owned firms also grew by 26 percent from 1.5 million to 1.9 million workers, a growth rate significantly higher than that of non-minority-owned firms.

“It is encouraging that the Hispanic business community is growing, but we need to create the right conditions for Hispanic-owned businesses to grow more quickly,” MBDA’s National Director David A. Hinson said. “We encourage Hispanic-owned businesses to explore new markets and take advantage of their existing cultural, family or business ties in foreign countries to export as a means to grow and compete in today’s global economy.”

Hispanic-owned businesses generated $345.2 billion in sales in 2007, up 55.5 percent compared with 2002. And of all Hispanic-owned firms with employees, approximately 44,000 have revenues of more than $1 million, representing an increase of more than 51 percent over 2002.

While these are welcome improvements for Hispanic-owned businesses and the minority business community, there is still significant room for growth. Learn how the Minority Business Development Agency can help you grow your minority business.

Today’s newly-released data from the U.S. Census Bureau is available by geographic area, industry and size of business.  |  Full release  |  Noticias en español

Secretary Locke Addresses Exports, Economic Growth and Job Creation with Minority Businesses

Secretary Locke talks at MED Week

On the final day of the National Minority Enterprise Development (MED) Week Conference hosted by the Commerce Department’s Minority Business Development Agency (MBDA), U.S. Commerce Secretary Gary Locke addressed minority business owners, government officials and corporate representatives and officially opened a Business-to-Business Expo Hall.

Locke discussed President Obama’s National Export Initiative (NEI) and how minority businesses can become more competitive and increase job creation and economic growth by participating in the global marketplace. Minority businesses already export twice as much as the average business, as they often have existing cultural, family or business ties to foreign countries. The NEI seeks to build on that, with a goal of increasing the number of small-, medium- and minority-owned businesses exporting to more than one market by 50 percent over the next five years.

Following his remarks, Locke officially opened and toured the Business-to-Business Expo Hall, which includes exhibit booths and one-on-one matching services with more than $20 billion in opportunities for minority businesses. The expo also offers 20-minute power-learning sessions conducted by public- and private-sector partners.

The MED Week Conference wraps up Friday night with the Awards Gala. U.S. Commerce Deputy Secretary Dennis Hightower will highlight the impact of minority-owned firms on the global economy and thank the MED Week award winners for their hard work.   Remarks

Minority Business Development Agency Kicks Off National Minority Enterprise Development Week Conference

Conference to help expand global reach for minority-owned firms

Alternate TextToday Commerce's Minority Business Development Agency (MBDA) kicked off the 28th annual National Minority Enterprise Development (MED) Week Conference in Washington, D.C.  The week-long conference focuses on “Strategies for Growth and Competitiveness in the Global Economy.”

The MED Week conference helps minority-owned firms grow domestically and globally through a series of educational, training and business-to-business networking events. Throughout MED Week, nearly 1,500 minority business owners, government officials and corporate representatives will hear about President Obama’s National Export Initiative and develop the skills to become export-ready. They will also have the chance to participate in sessions on opportunities for minority-owned firms in federal contracting and Haiti reconstruction, among others. The week will wrap up with an awards gala to honor excellence in minority-owned firms.

MBDA and National Director David Hinson will welcome several speakers to this week’s conference, including: U.S. Commerce Secretary Gary Locke, Administrator of the Small Business Administration Karen G. Mills, U.S. Deputy Commerce Secretary Dennis Hightower, Under Secretary of Commerce for International Trade Francisco Sánchez, Under Secretary of Commerce for Intellectual Property and Director of the U.S. Patent and Trademark Office David Kappos, and Assistant Secretary of Commerce for Economic Development John Fernandez.

MBDA is focused on helping minority-owned firms grow their businesses domestically and globally to foster job creation and economic growth. For more information about the conference and a video of National Director Hinson at MED Week, visit http://www.medweek.gov.  |  Conference details and more  | USPTO Kappos's remarks

MBDA Unveils First U.S. Global Construction Program for Minority-Owned Firms

Secretary Locke with participants at National Press ClubProgram to provide minority-owned firms with education, mentoring and ability to compete for $1 billion in global construction procurement opportunities

U.S. Commerce Deputy Secretary Dennis Hightower, Commerce's Minority Business Development Agency (MBDA), the International Trade Administration (ITA), the Tutor Perini Corporation, and the University of Southern California’s School of Policy, Planning and Development today announced the nation’s first program created to globalize the U.S. minority-owned construction industry by providing education, mentoring and procurement opportunities to minority-owned firms. Firms that complete the program will have the opportunity to compete for a minimum of $1 billion in Tutor Perini contracts, primarily international contracts, over a four-year period.

“This program could not be more relevant in today’s economy, where global competition is tougher than ever before,” said Hightower. “President Obama has set a goal of doubling exports over the next five years though his National Export Initiative and we need every stakeholder in America actively engaged in re-building our economy to create new jobs.”

An unprecedented public-private program spearheaded by MBDA, the Global Construction Program will prepare 150 high capacity, minority-owned and operated general contractors, subcontractors and suppliers to compete for construction opportunities worldwide. Participating firms will receive training, education and mentoring, as well as a new, broader source of contracting opportunities. Tutor Perini Corporation is one of the nation’s largest global construction conglomerates and a leader in supplier diversity within the construction industry. 

Pictured are Ralph Moore, President and CEO, Ralph G. Moore & Associates, Jennifer Grodsky, Executive Director, Federal Relations, University of Southern California,  Richard Rizzo, Executive Vice President, Tutor Perini Corporation, Deputy Secretary Dennis Hightower, and MBDA National Director David Hinson.  Read more

Commerce Department Recruiting Industry Experts to Serve on New Advisory Council on Minority Business

Comerce seal

The Commerce Department is recruiting leaders from the private sector to serve on the National Advisory Council on Minority Business Enterprise (NACMBE). The council will provide advice and guidance to the Secretary on key issues, including policies that would best position minority-owned firms to compete in the global economy: access to capital, expanded participation in emerging industries, and improved access to the global supply chains of the world’s largest corporations. Commerce’s Minority Business Development Agency (MBDA) will assist the Secretary in overseeing the Advisory Council. (More) (Nomination notice)

Secretary Locke Joins President Obama and Administration Officials at White House Tribal Nations Conference

Secretaries Salazar, Vilsack and Locke seen at conference.

Photo-capture from White House Web stream

U.S. Commerce Secretary Locke joined President Obama and high-level administration officials at the White House Tribal Nations Conference to highlight the department’s ongoing efforts to support economic development in Native American communities through the Minority Business Development Agency and other department bureaus. The conference provided leaders from 564 federally-recognized tribes the opportunity to have interactive discussions with administration officials regarding: economic development, public safety, housing, education, health and labor. (Remarks)

Secretary Lock Gives Keynote at MED Week, Follows White House Event for National MED Week Awardees

MED Week logo. Click to go to MED Week Web site.

Secretary Gary Locke laid out the Obama Administration’s strategy to expand opportunities for minority businesses. In his keynote, Locke outlined how the President’s Recovery Act is giving businesses access to billions of dollars in loan guarantees, and how it seeks to reorient America’s energy policy towards providing new manufacturing jobs in clean energy. Locke called for reform of the healthcare system so that small- and medium-sized businesses can better afford health benefits for their workers. On Wednesday, Secretary Locke and Vice President Joe Biden congratulated the 2009 National Excellence in Minority Business Award Winners at a reception at the White House. (Remarks)

Earvin "Magic" Johnson to Keynote MBDA's Annual MED Week Conference

Earvin “Magic” Johnson will keynote the Minority Business Development Agency’s (MBDA) National Minority Enterprise Development (MED) Week Conference in Washington, August 26-28. Also participating as speakers will be U.S. Commerce Secretary Gary Locke, new MBDA National Director David Hinson, and Small Business Administration Administrator Karen G. Mills. The conference will focus on fostering innovation, competitiveness and opportunities for minority businesses to retool and rebuild America’s infrastructure under the American Recovery and Reinvestment Act. (More) (Registration)

Locke Announces St. Louis Native to Lead MBDA

File photo of David Hinson smiling.

File Photo

U.S. Commerce Secretary Gary Locke today announced the appointment of David Hinson, a St. Louis native with more than 20 years of business experience, as the new administrator of the Minority Business Development Agency (MBDA). This agency is the only federal agency created specifically to foster the establishment and growth of minority-owned businesses in the United States.“The success of minority-owned businesses is essential to our economic recovery, and I’m counting on David to maximize their opportunities,” Locke said. (More)

Secretary Locke Announces Efforts to Support Minority Business Access to Recovery Act Opportunities

MBDA lgo. Click to go to MBDA Web site.

U.S. Commerce Secretary Gary Locke announced significant efforts by the department to support access for minority-owned businesses to Recovery Act opportunities. Locke, along with Commerce senior advisor Rick Wade, held a conference call with reporters today to discuss the department’s commitment to improving outreach and education. “President Obama is committed to ensuring that minority businesses are aware of and have access to federal contracts and funding opportunities,” Locke said. “The success of minority-owned businesses is vital to our economic recovery, and we’re working hard to make sure they have access to these important federal opportunities.” (More) (Commerce.gov/Recovery) (www.mbda.gov)