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Blog Category: MED Week

Commerce Department Recognizes Minority Business Community Champions

Deputy Secretary Bruce Andrews, National Director of the Minority Business Development Agency Alejandra Castillo, and MBDA Public Affairs Team Lead Velicia Woods congratulate a MED Week Award winner

Today, U.S. Deputy Secretary of Commerce Bruce Andrews recognized the 2014 National Minority Enterprise Development (MED) Week Award winners during a ceremony at the annual MED Week Conference in Washington, D.C. MBDA awarded 13 organizations, businesses and individuals who have demonstrated leadership and commitment in advancing the minority business community.

As one of the longest running Minority Business Enterprise events in the United States, the National MED Week Conference recognizes the outstanding achievements of leading minority entrepreneurs and organizations while positioning business owners for opportunities that drive growth. Minority Business Development Agency (MBDA) National Director Alejandra Y. Castillo and U.S. Small Business Administration (SBA) Administrator Maria Contreras-Sweet delivered remarks to kick off the one-day conference this morning.

The conference provided opportunities for small business owners and entrepreneurs to connect with senior public officials, industry executives and leaders from all over the country and learn about cutting-edge tools that can give their business a more competitive advantage.

The Obama Administration and Commerce Department have been laser-focused on helping businesses create good-paying jobs, particularly small and medium-sized businesses. On July 25, President Obama issued a proclamation declaring this week Minority Enterprise Development Week, during which Americans are celebrating the essential role that minority entrepreneurs and businesses play in our economy and communities.

Presidential Proclamation—Minority Enterprise Development Week, 2012

This week the Minority Business Development Agency will be hosting the 30th Anniversary National Minority Enterprise Development Week and on Friday, November 30, 2012, President Barack Obama issued a Presidential Proclamation about Minority Enterprise Development Week, 2012.

MINORITY ENTERPRISE DEVELOPMENT WEEK, 2012

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BY THE PRESIDENT OF THE UNITED STATES OF AMERICA

A PROCLAMATION

At the core of who we are as a Nation is a fundamental belief: that no matter who you are, no matter what you look like, no matter where you come from, if you have an idea and a willingness to work hard, you can succeed. It is this belief that leads a worker to leave a job to become her own boss, propels a basement inventor to sell a new product, or drives an amateur chef to open a restaurant. It is this belief that has drawn millions to our shores and spurred America's prosperity for centuries.

The belief in tomorrow's promise is guiding minority entrepreneurs across our country to start the kinds of businesses that make up the backbone of our economy. With a combined economic output of $1 trillion, minority-owned firms are key producers in an array of industries, hubs of innovation and new technology, and engines of job creation in our communities.

Because the continued growth and success of minority enterprises is essential to our economic recovery, my Administration has taken steps to help bolster these businesses. Through the Minority Business Development Agency, we are providing access to capital, consulting, contracts, and markets to minority entrepreneurs seeking to expand their businesses at home and overseas. We are also making it easier for business owners to find Federal resources with www.BusinessUSA.gov, a centralized, one-stop platform for businesses to access services to help them grow and hire.

As the number and size of minority-owned firms continue to expand, we must harness the diversity and power of these businesses to help strengthen our economy and put people back to work. As we celebrate the 30th anniversary of Minority Enterprise Development Week, let us honor the role America's minority-owned businesses play in spurring our prosperity and recommit to equipping them with the tools for success in the 21st century.

NOW, THEREFORE, I, BARACK OBAMA, President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim December 2 through December 8, 2012, as Minority Enterprise Development Week. I call upon all Americans to celebrate this week with appropriate programs, ceremonies, and activities to recognize the many contributions of our Nation's minority enterprises.

IN WITNESS WHEREOF, I have hereunto set my hand this thirtieth day of November, in the year of our Lord two thousand twelve, and of the Independence of the United States of America the two hundred and thirty-seventh.

BARACK OBAMA

New Job Creation and Economic Impact Dominate Big Numbers for Minority Business Development Agency

Warehouse with workers (Photo: USDA)

2011 proved to be another highly productive year for Commerce's Minority Business Development Agency (MBDA)—the only federal agency tasked to promote the growth and global competitiveness of the minority business community. MBDA is a leader in strengthening the economy and improving the lives of all Americans. We support job growth and economic expansion through a network of MBDA business centers, collaboration with federal, state and local government agencies, and strategic partnerships. The U.S. economy continues to benefit from a strong minority business sector as illustrated by our big numbers below.

  • $1.0 trillion—The combined economic output of the nation’s 5.8 million minority-owned and operated businesses that provide goods and services across all industry sectors, including renewable energy, environmental remediation, manufacturing, information technology and telecommunications.  
  • $10 billion—The total dollar value of public and private sector contracts and capital that MBDA and its network of business centers obtained for minority-owned firms since the beginning of the Obama administration.
  • 15,000 plus—The number of new jobs created by minority business enterprises as a result of working with MBDA and its network of business centers during the first three years of the Obama administration. 
  • 125X—The return on investment the U.S. taxpayer receives from MBDA due to its increased operating efficiencies and focus on job creation.  

We anticipate 2012 will be another great year for the Minority Business Development Agency as we launch new business services, push global exporting opportunities and release recommendations from the National Advisory Council on Minority Business Enterprise. To learn more about what we have planned and how we can help you create jobs and improve your business, subscribe to the MBDA newsletter, visit an MBDA Business Center, and come to our 30th National Minority Enterprise Development (MED) Week Conference.

Acting Secretary Blank Addresses Minority-Owned Businesses about the Importance of the American Jobs Act

Acting Secretary Blank Addresses MED Week 2011

This morning Acting Secretary Rebecca Blank addressed the 29th Annual Minority Enterprise Development Week Conference about the importance of Congress passing the American Jobs Act. Dr. Blank emphasized that the American Jobs Act will help a private sector in need of a little boost. It will create jobs. It will prevent the layoffs of teachers and first responders. And it will rebuild the roads, railways and airports that form the very backbone of Commerce. 

She noted that the Obama Administration knows government can’t solve all the problems facing our country. What it can do is help lay a foundation for growth and create smart incentives for minority entrepreneurs and all American businesses to build something special on top of that foundation.

As part of this commitment to business and job growth, among the programs the administration has created are:

  • The Startup America Initiative, which connects established private sector mentors to innovative entrepreneurs;
  • The Small Business Jobs Act, which is providing billions of dollars in lending support and tax cuts for small businesses;
  • The $33 million Jobs and Innovation Accelerator Challenge to drive job growth through public-private partnerships in regions around the country, and we’re pleased to note that three MBDA centers were among the winners.
  • The National Export Initiative, which Commerce leads, is aimed at connecting small and medium sized enterprises with the 95 percent of the world’s consumer who live outside our border and doubling U.S. exports by 2015; and,
  • New aggressive steps by federal agencies, which are the nation’s largest purchaser of goods and services, to improve contracting with small businesses, including minority-owned firms.

The goal is simple. It is to improve the overall competitiveness of American business at home and abroad.

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