[Congressional Record Volume 160, Number 37 (Wednesday, March 5, 2014)]
[Extensions of Remarks]
[Page E303]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   RECOGNIZING THE MINORITY BUSINESS DEVELOPMENT AGENCY ON ITS 45TH 
                              ANNIVERSARY

                                 ______
                                 

                        HON. CEDRIC L. RICHMOND

                              of louisiana

                    in the house of representatives

                        Wednesday, March 5, 2014

  Mr. RICHMOND. Mr. Speaker, I rise today to applaud the Minority 
Business Development Agency on this its 45th Anniversary. Established 
in 1969, the MBDA has worked tirelessly and diligently to promote the 
growth and global competitiveness of a critical segment of the U.S. 
Economy, the minority business community.
   Why is this important? Well Mr. Speaker it is important because 
investing in contracts, capital and counseling for our minority owned 
businesses will yield significant results for minority communities. If 
we help our minority businesses help themselves, their success will 
bring sustainable economic growth and trans-generational wealth 
creation that will transform many of our hardest hit areas.
   At the time of the Agency's creation there were only 322,000 
minority-owned firms in the nation. Today, that number stands at 5.8 
million firms contributing $1 trillion towards our nation's economy. 
MBDA has been a significant part of this impressive growth story. Over 
the last five years in particular, MBDA has helped firms gain access to 
over $19 billion in contracts and capital resulting in the creation and 
retention of nearly 60,000 jobs. These are great numbers, Mr. Speaker 
and we have to thank the MBDA and its team for their efforts. But we 
have more work to do.
   I thank MBDA for all it has accomplished over the last 45 years. In 
the coming years, the growth of America's workforce will come from 
partnerships between the public and private sector. MBDA serves as a 
bridge connecting government and private resources to leverage existing 
competencies in service to the growth of the minority business sector. 
I applaud MBDA's mission and will continue to support it in the decades 
ahead.

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