Minority Business Development Agency Stakeholder Summit
Video for Attendees
Thursday, February 19, 2015 – 11:15am

MBDA Stakeholder Summit Theme: Elevating the Narrative and Direction of Minority Businesses as National Economic Priority

Minority business and economic development are key priorities for President Obama and Commerce Secretary Pritzker.

Working together, EDA and MBDA are facilitating economic opportunity in minority communities and to minority businesses across the nation.

I’d like to thank Director Alejandra Castillo and the MBDA team for their leadership and continued partnership in helping to advance this agenda.

MBDA has gathered an impressive group of prominent business leaders and other agency stakeholders in Washington today, and I am pleased to join the conversation as we continue to work together to elevate minority businesses.

Businesses have added over 11 million jobs over 58 straight months of job growth, but we still have more work to do.

In my role with EDA and as a former Mayor - I have seen first-hand the power minority-owned businesses have in transforming the economy of a community.  

I thank you all for your leadership and commitment to helping new start-ups, the  mom and pop store fronts and the budding entrepreneurs in underserved communities, which in many cases include women and minorities.

Today, I’d like to quickly share with you how the U.S. Economic Development Administration - EDA – is working to help communities realize their plans to create the right conditions for business development and job growth.  

While EDA does not invest directly in businesses, we do co-invest in planning, in technical assistance, and in essential public goods and critical infrastructure to help advance local strategies that are focused on increasing private investment and creating new jobs. 

EDA has been supporting economically distressed communities for 50 years.

We are a small agency with a big impact. 


Last month at the Hope Global Summit in Atlanta, I announced a $2.5 million EDA investment in Operation Hope to support their HOPE Inside Small Business Empowerment Initiative.

This EDA investment will assist minority and small business owners in nine states and the District of Columbia by offering critical business training and technical assistance that is expected to help educate 6,000 participants and create 600 small businesses.
The work that Operation Hope is doing to provide a bright future for the working poor, the underserved, and the struggling middle class is critical and EDA is proud of our investment in support of minority business development.


Later today, EDA will be participating in the “Show Me the Funding” discussion panel. There you will hear more about EDA’s programs, funding opportunities and resources available to the minority business community.

In addition, I encourage you to visit EDA.GOV for more information on the agency.


Again, thank you all for your leadership in building the strong, vibrant, job-creating minority-owned businesses that are so important to the success of our nation’s communities and our national economy.

EDA and MBDA intend to keep working together to meet the needs of our minority businesses and the communities they help support.

Have a great Summit!

Thank you!