Secretary of Commerce Gina Raimondo said the Commerce Department focuses on creating opportunity and prosperity for all Americans.
She told the 2022 National Minority Enterprise Development Week Conference they take that charge seriously, according to a Sept. 21 news release.
“America has more than 9 million minority-owned firms that employ 8 million workers and contribute $1.7 trillion to the economy. You are the engine of America’s economy and a crucial driver of employment and prosperity in your communities,” Raimondo said in the release.
Once-in-a-generation investments are being made to rebuild America’s infrastructure, combat climate change and support the domestic semiconductor industry, she said, according to the release. The Biden administration and the Commerce Department will ensure small and disadvantaged businesses get a chance for the opportunities brought by the investments made possible by the president’s leadership and legislation passed by Congress, she said.
Minority business enterprises secured more than $2 billion in contracts and gained access to more than $70 billion in capital with the help of the Minority Business Development Agency. They also gained assistance in making more than $330 million in export transactions, Raimondo said, according to the release.
“By extending our business center network, we’re going to build on these numbers, create more success stories and give more minority business enterprises and entrepreneurs the tools they need to thrive,” she said, the release reported.
