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Recent Minority Business News

• Fri, 06 Dec 2013 18:24:57 +0000: MBDA Recognizes 2013 National MED Week Award Winners - MBDA Syndicated News Feed
  

  Created on December 6, 2013

  In observance of Minority Enterprise Development (MED) Week, as proclaimed by President Barrack Obama, the Minority Business Development Agency (MBDA) recognized the 2013 National MED Week Award winners at the U.S. Department of Commerce on Dec. 2.  The 12 winners represented organizations, businesses and individuals who have demonstrated leadership and commitment in advancing the minority business community.  U.S. Secretary of Commerce Penny Pritzker presented the awards during the private ceremony. 

  “I am pleased to recognize and personally congratulate the 2013 National Minority Enterprise Development Week Award winners,” said Secretary Pritzker. “Helping American businesses grow and create jobs is the key focus of the Commerce Department’s ‘Open for Business Agenda,’ and today’s award recipients are playing a critical role in those efforts by helping minority-owned businesses innovate, expand and thrive.”

  Winners were selected for the following awards: Ronald H. Brown Leadership Award; Champions of Minority Business Development; and Minority-Owned Firms. The awards are designed to celebrate and recognize outstanding achievements of minority entrepreneurs based on the challenges the business has overcome, total revenues, total jobs created and the economic impact the business has had on the community. MBDA also recognizes individuals and organizations that have demonstrated leadership and commitment in advancing the minority business community.

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• Thu, 05 Dec 2013 20:53:18 +0000: Hospitality Industry in the Boom - MBDA Syndicated News Feed
  

  Throughout the years, the hospitality industry has grown through a series of transformations.  While many industries struggled with unemployment in 2011, new growth in the hospitality industry sparked a boom in the number of jobs created and economic opportunities. According to the Bureau of Labor Statistics the leisure / hospitality sector was second only to health care in the number of jobs created in 2011.^[1]

  One key reason for this growth has been the rise of the gaming industry across the United States. Today, many states have either legalized or begun the debate to legalize casinos in their state. What was once an industry isolated in Las Vegas, NV has now expanded in some form to 38 states. As a clear sign of this growth, in 2012, the Chicagoland area is now the third largest market by revenue according to the American Gaming Association.^[2]

  This rise also creates a number of economic opportunities for firms in the technology, manufacturing, and services industries. According to the American Gaming Association, “direct economic output by the gaming equipment manufacturing and technology sector rose to $13.0 billion in 2012 — an all-time high and 5.7 percent increase compared to 2011 figures. Approximately 31,200 workers were directly employed in the sector during 2012, earning $2.3 billion in salaries and wages.”^[3]

  Food and beverage firms as well as hotel management firms are also in line for expanding opportunities as these segments account for approximately one third of gaming revenue.

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• Thu, 05 Dec 2013 17:28:29 +0000: Secretary of Commerce Penny Pritzker to Lead Trade Mission to the Middle East - MBDA Syndicated News Feed
  

  Grow your Sales in the Middle East

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• Tue, 03 Dec 2013 18:55:27 +0000: Remarks by Commerce Secretary Penny Pritzker at Minority Enterprise Development Week Awards Ceremony - MBDA Syndicated News Feed
  

  AS PREPARED FOR DELIVERY
  Monday, December 3, 2013

  Remarks at Minority Enterprise Development Week Awards Ceremony
  Commerce Secretary Penny Pritzker

  Thank you, Director Hinson.  Welcome to Washington and to the Commerce Department.  I hope you all had a great Thanksgiving. When I became Commerce Secretary, I hung a sign on my office door just across the hall. It says “Open for Business.” 

  The facts are clear.  We have momentum.

  • Our GDP has grown for 10 straight quarters.  

  • Exports are up.  

  • The deficit has been cut in half.  

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