Gina M. Raimondo, Secretary of Commerce | Ballotpedia
Last week, U.S. Commerce Secretary Gina Raimondo and Deputy Secretary Don Graves delivered opening remarks at the Minority Business Development Agency’s (MBDA) second annual AANHPI Business Summit. They reiterated the Biden Administration’s commitment to an equitable and prosperous future for Asian American (AA) and Native Hawaiian, and Pacific Islander (NHPI) workers, entrepreneurs, and businesses.
The Biden Administration has disbursed over $22 billion in small business loans to AA and NHPI entrepreneurs and achieved the highest Asian American employment and entrepreneurship rates in over a decade. “The AA and NHPI community are a vital part of America’s ability to compete in the 21st century global economy,” said Raimondo. “At the Commerce Department, we’re working to ensure that all business owners, entrepreneurs, and innovators — regardless of their background or ethnicity — have the support they need to dream, create, and grow.”
Through the Capital Readiness Program, MBDA is working to ensure more underserved entrepreneurs have access to capital, mentors, and networks necessary for launching and scaling their businesses. To date, seven of the program’s awardees have developed clear plans targeting AA and NHPI businesses as part of their strategy to serve underserved entrepreneurs.
Last year, MBDA helped AA and NHPI-owned businesses secure over $642 million in capital and contracts. This includes $472 million for Asian American-owned businesses; $77 million for Indian American-owned businesses; and $92 million for Native Hawaiian- and Pacific Islander-owned businesses.
“America’s road to prosperity runs through our minority business community,” said Deputy Secretary Graves. “Together, we can support and uplift AA and NHPI workers, entrepreneurs, and businesses while securing an equitable future for all Americans.”
In conjunction with Asian American, Native Hawaiian, and Pacific Islander (AANHPI) Heritage Month, the summit was held at the Commerce Department’s auditorium. Last year during this event, Deputy Secretary Graves announced that the auditorium would be named in honor of Norman Mineta—the first Asian American cabinet member who served at both the Commerce Department and Department of Transportation. During his remarks this year, Graves unveiled images of plaques that will be displayed on walls paying homage to Mineta's contributions.
“Secretary Mineta recognized that America’s diversity is its source of strength,” said Graves. “During his time at the Commerce Department he worked hard to ensure that all Americans could participate in our economy regardless of race or national origin.”
Panel discussions covered topics such as access to capital opportunities in artificial intelligence (AI), navigating contracting processes. Before closing remarks were made by Secretary Raimondo who asked panel participants about challenges faced by AA and NHPI businesses while exploring how the Commerce Department can provide resources needed for success.
“It is more important than ever we double down on our efforts on equity,” said Raimondo. “You know better than anyone what AA- & NHPI-businesses need; hence you must work with us across federal government levels alongside state/local governments & community organizations.”
The Biden Administration along with The Commerce Department remains committed towards equality/diversity fostering workplace/economy beneficial for all Americans.
For further information refer President Biden's Proclamation honoring history/achievements within Asian-American/Native-Hawaiian/Pacific-Islander communities.
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