Commerce Secretary Don Evans Announces First Minority Business Development Center at
a Historically Black College

Washington, DC - Building on President Bush's creation yesterday of a presidential advisory board on Historically Black Colleges and Universities (HBCU), U.S. Commerce Secretary Don Evans today announced a $465,000 federal grant to Langston University in Oklahoma to create a Minority Business Development Center. It is the first such grant to a historically black college in five years. The grant was announced at the Historically Black Colleges and Universities Initiative Summit 2002 in Washington, D.C.

The new center will empower minority entrepreneurs with expert one-on-one assistance in all areas of business, including administration, planning, marketing, accounting, bidding and financing.

"This is an important step in fulfilling President Bush's commitment to ensure everyone has the opportunity to live the American dream," said Evans. "Everyone should participate in economic growth, and growing minority-owned businesses is an important part of revitalizing our economy and creating jobs."

The minority business center at Langston University will become the 40th business center for minorities and the only one currently operated by an HBCU. The new center plans to serve 125 entrepreneurs a year and help generate about $12 million in new business.

The MBDC announcement follows yesterday's action by President Bush, who signed an executive order to create an advisory board for historically black colleges and universities. The panel will submit an annual report with recommendations on advancing historically black schools in terms of academic performance, use of technology, financial planning and development.

The Langston center and its counterparts across the country are overseen by the Commerce Department's Minority Business Development Agency. They help minority businesses find new opportunities, and provide advice and training. MBDA invests about $10 million in these centers each year, which, in turn, generate $700 million in private opportunities and federal contracts.

"MBDA is leading national efforts in developing the entrepreneurial, innovation and strategic advocacy to empower and advance the interests of minority businesses," said Ron Langston, national director for the Minority Business Development Agency.