WASHINGTON, Sept. 26, 2019 /PRNewswire/ -- Today, the U.S. Department of Commerce, Minority Business Development Agency (MBDA) announced grant awards totaling $3.6 million to support business development in Indian Country. The investment represents an historic level of 17% of all the MBDA grants awarded this year.
"Under the guidance of President Donald J. Trump, economies are booming across the country," said Secretary of Commerce Wilbur Ross. "These projects have the potential to further allow Native-owned businesses to build on this unprecedented economic climate and, in turn, create jobs and new opportunities in their communities."
The diversity among the projects shows strong promise for Native-owned businesses to achieve entrepreneurial growth and global competitiveness. They encompass a range of strategies to address identified needs in Indian Country, including but not limited to access to capital, incubator/accelerators, federal program coaching, public-private partnerships, and broadband. Collectively, the objective is to ensure Tribal entrepreneurs and Tribal businesses are better connected to business opportunities and trained in entrepreneurship, leading to a stronger foundation for economic growth.
"These grants affirm MBDA's long-standing commitment to economic development in Indian Country," said Henry Childs II, MBDA National Director. "There are many examples of economic success in Indian Country. This includes areas such as energy, tourism, and gaming. Indigenous communities are a vital part of regional economies but are often disconnected from efforts to promote regional and rural development. This disconnect contributes to disparities in socio-economic outcomes experienced in Indian Country. MBDA's investments will help link Indigenous communities with regional and rural development efforts," stated Childs.
The FY 2019 grant recipients are:
Funds will be available for a 2-year period, September 2019 - August 2021. All recipients will have access to management and technical assistance from MBDA and its Office of Native American Business Development.
About the Minority Business Development Agency (MBDA)
MBDA is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority business enterprises through the mobilization and advancement of public and private sector programs, policy and research. Our services better equip minority-owned firms to create jobs, build scale and capacity, increase revenues and expand regionally, nationally and internationally. In 2019, MBDA commemorates 50 years of economic empowerment through entrepreneurship and recommits to Winning the Future for all U.S. minority-owned businesses. For more information visit www.mbda.gov.
SOURCE Minority Business Development Agency (MBDA)
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