MBDA Awards $4.3 Million in Grants to Advance the Growth of U.S.
Funding will support new MBDA Business Centers in Boston, Minneapolis
and Riverside, California
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
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
?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 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|
|California ? Riverside||?||$355,000||?||So Cal Corporate Growth Partners|
|Minnesota ? Minneapolis||$225,000||Metropolitan Economic Development|
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)
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
Minority Business Development Agency (MBDA)
Source: Minority Business Development Agency