MBDA Awards $4.3 Million in Grants to Advance the Growth of U.S. Minority Businesses

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    Sept. 14, 2011 15:17 UTC

    MBDA Awards $4.3 Million in Grants to Advance the Growth of U.S.
    Minority Businesses

    Funding will support new MBDA Business Centers in Boston, Minneapolis
    and Riverside, California

    Native American

    WASHINGTON–(BUSINESS WIRE)–
    The U.S. Department of Commerce’s Minority Business Development Agency
    (MBDA) today announced approximately $4.3 million in funding over the
    next five years for three new MBDA Business Centers (MBC) in Boston,
    Mass., Minneapolis, Minn., and Riverside, Calif., to stimulate job
    creation and support the economic growth of minority firms across the
    United States. By investing in local communities across the nation, the
    Obama Administration continues to demonstrate its commitment to take
    actions designed to put more Americans to work and foster economic
    growth.

    The new centers will join a nationwide network of MBDA Business Centers
    that provide assistance to local minority entrepreneurs and business
    owners by offering strategic business consulting services focusing on
    large public and private contracts, financing, and access to global
    markets. With help from the new MBCs, minority-owned businesses can
    learn how to boost their exports in support of global competitiveness
    and the overall growth of the national economy.

    “Minority-owned businesses are an integral part of local, national and
    global business communities,” said MBDA National Director David Hinson.
    “The services they provide and the jobs they create generate trillions
    of dollars in economic output. By investing in our Business Centers, we
    are ensuring that minority-owned businesses get the direct assistance
    they need to be successful and vital contributors to the U.S. economy.”

    The MBC program is a key component of the overall portfolio of minority
    business development services offered by MBDA and was recently
    restructured to extend cooperative agreements from three to five years
    and expand the MBC nationwide network.

    “The Greater New England Minority Supplier Development Council (GNEMSDC)
    is excited to be the Project Operator for the new MBDA Business Center
    in Boston,” said Dr. Frederick McKinney, CEO & President of the GNEMSDC.
    “We believe that the center will lead to minority business enterprise
    growth, greater employment and more economically vibrant and diverse
    communities.”

    “We are looking forward to a strong partnership with the MBDA,” said
    Yvonne Ho, operator of the MBDA Business Center in Minneapolis. “With
    this award, we will expand our capacity to deliver critically needed
    business development services. We look forward to working together in
    bringing economic opportunity and vitality to the minority communities
    we serve.”

    “We are excited and honored to have been given such an important task of
    assisting businesses to stabilize, grow and create jobs. This is vital
    in the eventual recovery of our nation,” said Daniel Sieu, operator of
    the MBDA Business Center in Riverside. “It’s a great opportunity to
    partner with MBDA, utilizing our collective pool of networks and
    resources to assist businesses.”

    Grants announced today for three MBDA Business Centers include:

             
    MBC Location   Federal Funding   Cooperative Agreement Partners
    (State, City)   Per Year    
    Massachusetts – Boston $275,000 Greater New England Minority Supplier
            Development Council
    California – Riverside   $355,000   So Cal Corporate Growth Partners
    Minnesota – Minneapolis $225,000 Metropolitan Economic Development
            Association
     

    Minority business owners who are interested in receiving assistance from
    an MBDA Business Center can visit www.mbda.gov
    to find their closest center. Earlier this year, MBDA awarded $7.8
    million in grants to fund 27 MBDA Business Centers across the country.

    About the Minority Business Development Agency (MBDA)

    MBDA, www.mbda.gov,
    an agency within the U.S. Department of Commerce, promotes the growth
    and global competitiveness of the minority business community, making
    them better equipped to create jobs, impact local economies and compete
    successfully in domestic and global marketplaces. With a nationwide
    network of more than 45 business centers and strategic partners, MBDA
    assists minority entrepreneurs and business owners with consulting
    services, contract and financing opportunities, bonding and
    certification services, building business-to-business alliances and
    executive training.

    Contacts

    Minority Business Development Agency (MBDA)
    Raini Brunson
    Phone:
    202-482-0760
    Fax: 202-219-8809
    Email: rbrunson@mbda.gov
    Website:
    www.mbda.gov

    Source: Minority Business Development Agency