Press Room September 2012

WASHINGTON (September 28, 2012) — As a result of a multi-year strategy to reduce administrative and operational overhead, the U.S. Commerce Department’s Minority Business Development Agency (MBDA) today announced an investment of $855,000 to seven MBDA Business Centers. The funds will expand outreach and business consulting expertise to better serve minority business communities in cities nationwide.

Departments of Commerce and Labor partner to help companies create jobs, invest in America

The Obama administration today announced a $40 million multi-agency competition, the Make it in America Challenge, to accelerate the trend of insourcing, where companies are bringing jobs back and making additional investments here in America. The competition, which is being funded by the U.S. Department of Commerce’s Economic Development Administration (EDA) and National Institute of Standards and Technology Manufacturing Extension Partnership (NIST-MEP) and the U.S. Department of Labor’s Employment and Training Administration (ETA), will build upon the administration’s bottom-up approach to strengthening the economy and creating jobs by partnering with state, regional, and local economies.

Agricultural, Energy, Transportation, and Mining Technologies

The purpose of this trade mission is to deepen trade ties with South Africa and to explore export opportunities to Zambia. The Commerce Department will help U.S. firms find customers and business partners in Johannesburg and Cape Town, South Africa, and Ndola, and Lusaka, Zambia.

Why South Africa and Zambia?

South Africa is the most advanced, broad-based industry and productive economy in Africa. South Africa became the newest country to join the leading emerging market group, BRICS. In 2011, U.S. - South Africa trade increased 18% percent from its 2009 trade level.

Zambia is gerographically well placed to become a regional hub as it shares it border with eight countries. Zambia was recently ranked one of the fastest growing economies in the world by The Economist Magazine. Zambia is emerging into a focus with a U.S.-Zambia trade increase of 83 percent in 2011 over its 2011 level.

Which Sectors?

• Electric Power and Energy Efficiency Technologies

• Productivity Enhancing Agriculture Technologies and Equipment

• Transportation Equipment and Intrastructure

• Mining Equipment and Technology

The U.S. Small Business Administration and theU.S. Hispanic Chamber of Commerce (USHCC) are teaming together on a pilot program in eight states to broaden the impact of the agency’s programs among Hispanic entrepreneurs. 

“An economy built to last includes boosting entrepreneurship opportunities in Hispanic American communities,” said SBA Administrator Karen Mills.  “The SBA is having a powerful impact in this sector, with a billion dollars in loans to Hispanic-owned businesses last year alone.  The pilot program we are announcing today will help us do better.