Press Releases

Fiscal Year 2011 Annual Performance Report Released

Washington, DC (June 25, 2012) – The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) experienced record-breaking performance in Fiscal Year (FY) 2011 as detailed in its FY 2011 Annual Performance Report, released today. Despite the serious headwinds the economy is facing, more than 5,780 new jobs were created by minority-owned firms working with MBDA and its network of MBDA Business Centers in FY 2011. Overall, MBDA has helped minority-owned firms create more than 16,300 new jobs for Americans between FY 2009-FY 2011. 

The number of new jobs created by minority-owned firms who received services from MBDA between FY 2009-FY 2011 represents an increase of 20 percent over the prior three-year period. And, during the worst economic downturn since the Great Depression, MBDA aided in securing nearly $11 billion in contracts and capital for minority-owned firms, including $4 billion in FY11 alone. 

Funds will establish a new MBDA Business Center in Memphis; Support Existing Centers in Houston, New Orleans

Washington, DC (April 19, 2012) - Today, the U.S. Department of Commerce’s Minority Business Development Agency (MBDA) announced $3.4 million in funding to winners of a grant competition designed to boost job creation and the global competitiveness of minority-owned firms.

“One of my top priorities while at MBDA has been to expand the Agency’s reach so more minority-owned firms benefit from the expertise of our business centers,” said MBDA National Director David A. Hinson. “Establishing a presence in Memphis strengthens our ability to help the Delta region support minority-owned businesses and boost job creation, key priorities of the Obama Administration.”

The $3.4 million in funds will support the creation of an MBDA Business Center in Memphis, and also support existing Centers in Houston, Texas, and New Orleans, Louisiana. With the addition of Memphis, Tennessee, the Agency’s footprint covers twenty-six states and the District of Columbia and Puerto Rico.

The Metropolitan Economic Development Association will operate new center

WASHINGTON D.C. (November 9, 2011) - The Minority Business Development Agency (MBDA) today announced that the Metropolitan Economic Development Association of Minneapolis, Minn. was awarded a cooperative agreement totaling $1.75 million to operate a new MBDA Federal Procurement Center (FPC) located in the Washington, D.C. metropolitan area. The cooperative agreement will be for a period of five years, from fiscal year 2011 through fiscal year 2015.

The Federal Procurement Center will serve the minority business community nationwide in order to better position them to access and obtain federal procurement awards, which includes prime and sub contracts.  The MBDA Business Centers have garnered great success since being created, and establishing a Minority Business Center focused solely on federal procurement is part of the Obama Administration’s commitment to ensuring that all U.S. businesses share in the jobs and opportunities created by federal government activities.

WASHINGTON D.C. (September 20, 2011) – The U.S. Commerce Department’s Minority Business Development Agency (MBDA) proudly announces the 2011 National Minority Enterprise Development (MED) Week award winners. Awardees will be honored at a gala on September 30 in Washington, D.C.

“The minority-owned firms selected are excellent examples of U.S. firms producing American-made products and services that are creating jobs for Americans,” said MBDA National Director David Hinson. “These businesses are helping America ‘win the future’ by boosting our economy and global competitiveness.”