Accomplishment No. 20: Supporting the Minority Business Development Agency
As the economic crisis struck Nevada in 2008, minorities were particularly affected. Nevada’s African-American community has doubled in as many decades and more than 8,600 African-Americans own small businesses in Nevada.
President Obama has worked hard to ensure that African-Americans have the same opportunities to succeed as all Nevadans. That’s why he signed the HIRE (Hiring Incentives to Restore Employment) Act in 2010. It gives small businesses tax cuts for adding employees starting this year, and it successfully led 1.7 million African-Americans to new jobs throughout the country.
The HIRE Act also funded $11 billion to the Minority Business Development Agency (MBDA), helping minority small businesses access more capital to expand their enterprises and continue hiring. The MBDA went on to establish the Nevada Minority Business Enterprise Center. This helps minority communities in Nevada compete both nationally and globally.
The Minority Business Development Agency is yet another example of President Obama’s policies aimed strengthening economic security for minorities and all American families. Because when minority businesses succeed, we all succeed, both in Nevada and throughout the nation.