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Deputy Secretary Graves Addresses Administration’s Commitment to Economic Prosperity, Equity, and Inclusion for all American Business Enterprises

Last week, Deputy Secretary of Commerce Don Graves traveled to New York City, where he met with entrepreneurs and local leaders to highlight the Commerce Department’s steadfast commitment to diversity, equity, and inclusion through various programs promoting job growth and innovation, business investment, and accessibility to broadband internet.

On Wednesday, July 20, Deputy Secretary Graves joined a discussion with women asset managers at All-Places, a legal strategy firm that aims to help women grow their businesses. According to the Commerce Department’s Minority Business Development Agency (MBDA), minority women are the fastest-growing population of entrepreneurs and account for the creation of millions of U.S. jobs. Despite their direct contributions to the U.S. economy, they still face obstacles.

“We have one overarching goal at the Commerce Department: to improve America’s competitiveness in every community so that our workers and companies of all sizes can succeed in the global economy,” said Graves. “And equity underpins every aspect of what we do.”

During the discussion, Deputy Secretary Graves outlined Commerce programs that can assist women entrepreneurs including the Economic Development Administration’s (EDA) Build to Scale program and MBDA’s Enterprising Women of Color Initiative. EDA’s Build to Scale program seeks to increase access to capital for underrepresented communities by introducing new equity-based investment opportunities for entrepreneurs.

Graves also encouraged participants to join the upcoming White House roundtable for diverse asset managers.

On Thursday, July 21, Deputy Secretary Graves visited the Brooklyn Navy Yard where he toured small businesses and manufacturers that are driving forward innovation in the city, including clean energy pioneer Amogy. The startup is looking to transform the heavy-duty transportation industry by providing a zero-emission and high-performance alternative energy solution using ammonia as a fuel.

“Ensuring the U.S. remains a leader in the development of emerging technologies is vital to our competitiveness," said Deputy Secretary Graves. "The Brooklyn Navy Yard is a reflection of American innovation at work. Domestic manufacturing enables us to build the industries of tomorrow and create jobs in the process.”

In the afternoon, Deputy Secretary Graves joined Congressman Gregory Meeks in a meeting with a diverse group of asset managers and impact investors and stressed the Administration’s commitment to diversity, equity, inclusion, and accessibility. During their meeting, the group discussed barriers they faced in building their investment firms, access to institutional investors, and the chokepoints minority-owned businesses face in the investment process.

On Friday, Deputy Secretary Graves and New York Congressman Mondaire Jones participated in an event at the New York Parks Alfred E. Smith Recreation Center and addressed digital inequities and the need for all Americans to have access to affordable broadband, with more than 30 million Americans still without reliable internet. At the event, he spoke with several students about the center’s digital literacy program and how the program has had a positive impact on their lives. He then participated in a roundtable discussion where he heard from participants on their work and the current challenges they’re facing in closing the digital divide.

During his remarks, Graves stressed the Administration’s and Commerce Department’s commitment to ensuring reliable, affordable high-speed internet for all Americans.

“President Biden’s Bipartisan Infrastructure Law is making a once-in-a-generation investment of $65 billion to bring high-speed internet to every American,” said Graves.

Included in this funding are several Commerce programs housed under the National Telecommunications and Information Administration (NTIA), including the Internet for All (IFA) initiative, the Broadband Equity Access, and Deployment (BEAD) Program, the Middle Mile Grant (MMG) Program, and the Digital Equity Grant Programs funded by the Digital Equity Act. These programs are critical tools to close the digital divide and demonstrate collaboration between federal, state, and city governments to address inequities to drive digital inclusion and equity.

During the event, Deputy Secretary Graves announced grant awards to five HBCUs under NTIA’s Connecting Minority Communities Program, which will provide over $260 million to help Hispanic Serving Institutions, HBCUs, and tribal colleges and universities purchase broadband service and equipment, hire IT personnel, and create digital literacy programs.

“If we work hard and work together, we will close the digital divide for good and increase the opportunity for everyone to succeed in the 21st-century global economy,” he concluded.

For more information on Commerce’s diversity and equity programs that are assisting minority and women-owned businesses and increasing access to affordable and reliable Internet, please visit EDA, MBDA, and NTIA.

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