It has been reported that the Trump administration intends to follow the Heritage Foundation’s recommendations to abolish the Minority Business Development Agency (MBDA). As a supporter of the Chicago Minority Supplier Development Council (ChicagoMSDC), I am writing to urge your continued funding of this critical agency. ChicagoMSDC and the National Minority Supplier Development Council (NMSDC) have been close partners of the MBDA since its creation in 1969.
The MBDA is the only federal agency created specifically to foster the establishment and growth of minority-owned businesses in America. It helps to create and sustain U.S. jobs by promoting the growth of global competitiveness of businesses owned and operated by minority entrepreneurs. Despite the challenging economic environment, in the first three years of the Obama Administration, MBDA facilitated a total of over 16,300 new jobs – an increase of 20% over the prior 3-year period.
MBDA provides funding for a network of minority business centers located throughout the nation. ChicagoMSDC hosts MBDA Business Centers in Chicago and St. Louis and an MBDA Export Center. We also partner with the Association for Corporate Growth to operate a Capital Access Center, and with the Georgia Institute of Technology to operate an Advanced Manufacturing Center. Our centers have assisted minority businesses in generating over $3 billion in contracts, and $1.2 billion in financing. With our guidance, our clients have created or retained 11,000 jobs, the majority of which are in the minority communities that need them the most.
ChicagoMSDC certifies minority business enterprises (MBEs), helps them to develop their capacity, connects them to opportunities with other organizations, and advocates for parity and access for minority entrepreneurs. We serve large buying organizations by providing them access to our network of thousands of certified MBEs and assist in establishing and improving their supplier diversity programs.
ChicagoMSDC relies on our ongoing partnership with the MBDA to continue its critical work of growing our economy and leveling the playing field for minority entrepreneurs.