Minority business growth

Minority Business Enterprises (MBEs) are fast-growing, innovative, and represented in every industry sector in the United States. Minority-owned firms directly contribute to the U.S. economy and account for the creation of millions of U.S. jobs.

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Commerce's NTIA Launches Minority Broadband Initiative to Assist Historically Black Colleges and Universities in Advancing Broadband Connectivity

Today, the National Telecommunications and Information Administration (NTIA) launched a new Minority Broadband Initiative (MBI) focused on solving broadband deployment challenges in vulnerable communities. NTIA announced the initiative at the 2019 Carolinas Alliance for Success in Education (CASE) Summit held at Johnson C. Smith University. The program seeks to ensure that Historically Black...

How 11 Million Minority-Owned Firms Can Close the Wealth Gap and Drive the U.S. Economy

The following is a cross-post from the Minority Business Development Agency (MBDA) The U.S. Department of Commerce, Minority Business Development Agency (MBDA), in collaboration with the Milken Institute, convened prominent scholars, economists and business leaders to combine research efforts in support of the growth and expansion of minority business enterprises (MBEs). Fifty years after the...

Remarks By Secretary Wilbur Ross at the Minority Business Development Agency's Minority Enterprise Development (MED) Week

Thank you, Henry, for that kind introduction. And thank you for the work that you and your team are doing at MBDA to support not just minority businesses, but the economic development of our entire country. Thank you, also, to the Milken Institute and to Mintz for co-hosting this event. The Milken Institute has been instrumental in driving a constructive national dialogue and agenda for growing...

Presidential Proclamation on Minority Enterprise Development Week, 2019

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The following is a cross-post from the White House During Minority Enterprise Development Week, our Nation celebrates the success of minority-owned businesses and recognizes their significant role in strengthening our country’s robust economy. The contributions of these enterprises ensure American companies remain world leaders in the global marketplace. This year marks the 50th anniversary of the...

Remarks by U.S. Commerce Secretary Wilbur L. Ross at the 2019 National AAPI Business Summit

Introduced by Henry Childs, National Director of the Commerce Department’s Minority Business Development Agency Thank you, Henry, for that kind introduction, and for your hard work and dedication to the economic development of America’s minority communities. Welcome, everyone, to the 2019 National AAPI Business Summit. It is great to see such a large turnout. Yesterday, I had the privilege of...

Tax Cuts and Jobs Act Creates Opportunity Zones to Spur Investment in Underserved Areas

The following is a cross-post from the U.S. Minority Business Development Agency (MBDA) Opportunity Zones are a tool created by the Tax Cuts and Jobs Act of 2017 to spur investment on underserved areas. They offer investors a tax incentive by investing their unrealized capital gains into a designated “Opportunity Fund.” Did you know that there are $2.3 trillion of unrealized capital gains in the...

The Tax Cuts and Job Act: New Low Taxes and New Investments to Distressed Communities

Today marks the first Tax Day under the new President Trump Tax Code, this massive tax cut benefits everyday working families and supports American businesses. In 2018, Americans started benefiting from the President’s Tax Cuts and Jobs Act as their take-home pay increased due to a lower tax burden and companies large and small passed the benefits of the business tax cuts on to their employees in...

Secretary Ross Addresses White House Opportunity and Revitalization Council

U.S. Secretary of Commerce Wilbur Ross participated in this week’s White House Opportunity and Revitalization Council meeting hosted by President Donald Trump. During the council meeting, Secretary Ross highlighted the innovative steps taken by the U.S. Department of Commerce to encourage private investment in Opportunity Zones. He shared how the Economic Development Administration and Minority...

Remarks by U.S. Commerce Secretary Wilbur L. Ross at the Minority Business Development Agency 50th Anniversary Celebration

Thank you, Henry, for that kind introduction. Fifty years: A lot of dedicated, passionate people have made it possible for the Minority Business Development Agency to achieve such a milestone. Congratulations! And thank you — to all the people who work in the small but mighty MBDA — for maintaining a five-decade tradition of excellence. Your service is needed now more than ever to assure the...

Op-Ed: Celebrating the Rise of Minority-Owned Businesses

On Tuesday, the Department of Commerce’s Minority Business Development Agency (MBDA) celebrates its 50th anniversary. When President Nixon signed the executive order creating MBDA, the nation’s minority population was less than 40 million. Nixon recognized that, although minority-owned businesses then were only 4 percent of America’s businesses, empowering the entrepreneurial spirit of minority...