Evans and Casey Send Letter to Highlight Strong Support for the Minority Business Development Agency (MBDA)
Congressman Dwight Evans (Philadelphia and Montgomery County) joined with Senator Bob Casey to highlight their strong support for the continued funding of the Minority Business Development Agency (MBDA), and the MBDA Business Centers which are critical to the future success of our local entrepreneurs and business owners. The MBDA supports our small and minority-owned businesses that create jobs and drive investment into our neighborhoods by allowing our entrepreneurs grow, innovate, and prosper.
There are 5.8 million minority-owned firms in the United States. These firms contribute $1 trillion in economic output every year and are responsible for $1.1 million in annual receipts. This equates to $2.46 trillion in buying power which helps our nation’s economy continue to be the envy of the world. The Pennsylvania MBDA Business Center has generated over $290 million contracts and financing, as well as created hundreds of jobs since 2004.
“The MBDA helps to level the playing field and has a proven track record of helping America’s small businesses succeed,” Congressman Evans said. “The West Philadelphia Enterprise Center in Philadelphia is a stellar example of MBDA dollars at work. For nearly 30 years, the Enterprise Center has provided much-needed access to capital, opportunity, and other critical resources. The loss of an agency like that would be devastating to Philadelphia’s economy. At a time when our cities are already pressed for critical resources, defunding the MBDA at this vital juncture or making radical changes to its operation and mission, sends the wrong signal about this important sector of our economy.”
The full text of the letter can be found here: https://evans.house.gov/sites/evans.house.gov/files/wysiwyg_uploaded/MBDASealedLetterEvansCaseyPA02-Scan%20%28007%29.pdf
Media Contact: Becca Brukman, 202-225-4001, Becca.Brukman@mail.house.gov