[Congressional Record Volume 155, Number 131 (Wednesday, September 16, 2009)]
[Extensions of Remarks]
[Page E2288]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




  CONGRATULATING THE MINORITY BUSINESS DEVELOPMENT AGENCY ON ITS 40TH 
                              ANNIVERSARY

                                 ______
                                 

                               speech of

                             HON. AL GREEN

                                of texas

                    in the house of representatives

                      Tuesday, September 15, 2009

  Mr. AL GREEN of Texas. Mr. Speaker, I extend my strong support to H. 
Res. 215, which congratulates the Minority Business Development Agency 
for its accomplishments on its 40th anniversary.
  For forty years, the Minority Business Development Agency has 
fostered the establishment and growth of minority-owned businesses in 
America. Since the agency's founding in 1969, it has assisted 625,000 
minority businesses and helped them secure more than $25 billion in 
loans and bonding. In 2008, it served 25,000 businesses and contributed 
to the creation of over 5,000 new jobs. The Minority Business 
Development Agency is the only federal agency dedicated to minority 
business enterprise and works to achieve entrepreneurial parity so that 
minority businesses are represented proportionally to the minority 
population in this country.
  While the number of minority businesses in the United States has 
grown today to 4 million from only 322,000 in 1969, the growth of 
minority firms has not kept pace with the growth of the minority 
population. Minority groups represent 26 percent of the country's 
population, but own only 12 percent of the nation's businesses and 
receive only 6 percent of total sales.
  Nevertheless, minority enterprises account for $668 billion in total 
annual sales receipts and employ 5 million people. By 2042, minorities 
in America will become a numerical majority. Based on this population 
shift, it is clear that the success of the American economy is directly 
linked to the success of minority businesses, which are in a unique 
position to support the vibrancy of local communities. Supporting 
minority businesses is not only beneficial to minority enterprise, but 
to communities and people who depend on those businesses as well.
  As the Minority Business Development Agency enters its fifth decade, 
I urge the agency to continue its efforts to help minorities achieve 
entrepreneurial parity, contribute to the health of the national 
economy and communities across America. I am proud to celebrate the 
achievements of the Minority Business Development Agency on its 40th 
anniversary and I urge my colleagues to support H. Res. 215.

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