Congratulating the Minority Business Development Agency on its 40th anniversary and commending its achievements in fostering the establishment and growth of minority businesses in the United States.

I want to thank Mr. Carson for this opportunity.

Mr. Speaker, I rise in support of H.R. 215, congratulating the Minority Business Development Agency on its 40th anniversary and its achievements in fostering minority businesses in the United States.

Since its inception in 1969 by President Richard Nixon's Executive Order 11458, the MBDA has operated as the only Federal agency created to serve minority-owned businesses through its nationwide network of more than 40 business development centers and hundreds of strategic partners.

Over that time, MBDA has served over 625,000 minority-owned businesses and assisted in securing more than $25 billion in loans and bonding, greatly contributing to the growth of our minority-owned businesses and the welfare of our communities in general.

I would like to share a couple of success stories of minority-owned businesses and companies from my 15th Congressional District of California in San Jose. First, Mr. and Mrs. Pradeep Aswani, immigrants from India, founded Securematics in Santa Clara, California. In 2002, this IT network solution distributor started with $4 million in revenue. In just 6 years, they grew their company sales to nearly $115 million by exploiting opportunities found while participating in MBDA's forums, facilitated by the Northern California Minority Business Development Center.

Another success story, Central Computers, was established in 1986 from very humble beginnings in Santa Clara, California, by Saul and Sherry Yeung, two Chinese Americans who immigrated from Hong Kong. Through their perseverance and resourcefulness, including taking advantage of the services provided by the Northern California Minority Business Enterprise Center, the Yeung family successfully transformed their home apartment operation into the largest independent computer retailer and servicer in the Bay Area, grossing nearly $30 million annually. Last September, MBDA recognized Central Computers as the National Minority Retail Firm of the Year for 2008.

The Northern California Minority Business Enterprise Center contributed to both of these successes. Funded by the MBDA and operated by Asian Inc., a nonprofit technical assistance and research organization that aims to strengthen minority communities, this center has assisted many of my district's minority-owned businesses. In fact, the Center participated in my Small Business Resource Fair held last May.

Now, these two stories are also prime examples of how successful minority-owned companies can give back to their local communities. Mr. Aswani finds time to mentor many local small business enterprises by providing free business strategy counseling. Saul and Sherry Yeung are significant contributors to local charities, community organizations, and educational institutions, including a $1 million donation to the University of California Berkeley's new Tien Center for East Asian Studies.

As Chair of the Congressional Asian Pacific American Caucus, I appreciate the support in introducing this resolution from my fellow Chairs of the congressional minority caucuses--Hispanic Caucus, Black Caucus, and Native American Caucus. We recognize the importance of minority-owned businesses not only as critical economic contributors to our communities but also their significant influence on the well-being of the U.S. economy.

Minority groups represent 26.1 percent of the population but only own 11.6 percent of the Nation's businesses and receive only 6.2 percent of total sales. This disparity between minority-owned businesses compared to those nonminority-owned represents a significant loss of economic opportunity for the Nation. If economic parity was achieved, minority- owned businesses would create 16 million jobs, generate $2.5 trillion in gross receipts and an unrealized tax base of more than $100 billion per year.

Despite the MBDA's admirable services to foster the growth of minority-owned businesses, many more resources are needed to achieve economic parity now and in the future. By 2050, the U.S. Census Bureau predicts that minorities will comprise more than half of the U.S. population. It is easy to foresee the increased reliance our Nation's economy will have on minority communities and businesses.

As difficult as this mission is, I believe the MBDA and its new national director, David Hinson, are up to the challenge. David Hinson brings to the Agency over 20 years of business expertise and academic excellence. Among Director Hinson's new priorities are the creation of a new generation of $100 million revenue-producing minority-owned businesses and fostering the growth of minority-owned businesses in clean energy, in green technology, health care, and information technology.

Mr. Speaker, I congratulate the Minority Business Development Agency for its 40 years of dedicated work, fostering the growth and development of our Nation's minority-owned businesses, and I look forward to continuing to work with the MBDA to ensure the success of its noble endeavors.

I would like to thank the Chairs of the congressional minority caucuses for introducing this resolution with me. I appreciate the support of the cosponsors, and I urge my colleagues to join us in supporting H.R. 215.

Before I yield back the balance of my time, Mr. Speaker, I would like to express again the local impact that this program has had in my community, not only because I know the two companies and the folks who had done it, but there are many, many more success stories that go untold. And there are yet more potential success stories out there with the continuation of this project.

Mr. Speaker, I rise today in support of H. Res. 215, a resolution congratulating the Minority Business Development Agency on its 40th anniversary and commending its achievements in fostering the establishment and growth of minority businesses in the United States. I know in my own district MBDA is an integral part of the economic development of Orlando. In fiscal year 2008, the MBDAs Florida Minority Business Opportunity Center (MBOC) in Orlando helped minority businesses get $13.6 million in contracts and $29 million in financial transactions.

This year in 2009, one of their local success stories includes APC Workforce Solutions, a contract labor, acquisition and management company. With the assistance of the MBDAs Florida Minority Business Opportunity Center, APC recently received a three-year renewable $45 million per year contract from Sunoco, Inc. to provide staffing services. The contract is that resulted in the creation of 30 new jobs.

MBDA and its network of centers across the country are helping businesses like APC every day. That's why last year MBDA helped minority businesses get over $1 billion worth of contracts, $1 billion worth of financial transactions that helped create more than 5,300 jobs across the country. In this tough economy, agencies like MBDA are helping minority-owned firms succeed and Congress needs to do a better job of recognizing the important job MBDA has been doing over the past 40 years. I am ashamed to say that MBDA was overlooked in the American Recovery and Reinvestment Act (ARRA) and there was no specific language in ARRA for minority businesses.

In 2050, the minority community will represent 54 percent of the total U.S. population. It is imperative to the continued strength of the U.S. economy to provide for the growth and expansion of minority businesses. The nation is failing to reap the benefits of economic parity through the creation of 16 million jobs, generating $2.5 trillion in gloss receipts and an unrealized tax base of more than $100 billion per year. Congress must do more to help the minority business community.

I like to say when America has a cold, the African-American community has pneumonia. Right now, Congress is ignoring the long-term health of our economy by ignoring the needs of minority businesses.

Minority-owned firms are in the position to generate long-term employment and economic sustainability in their communities. Minority firms provide nearly 5 million people with steady jobs and create wealth in minority communities. They create jobs, impact local and state economies and pursue global marketplaces

MBDAs long term strategic direction is achieving economic parity for minority firms. Economic parity is a benchmark measured by the proportion of U.S. business owned by minorities being roughly equal to the percent of their population. MBDA is focused on creating a new generation of $100 million dollar minority businesses creating the foundation that helps to close the gap in annual revenues between minority-owned firms and non-minority owned firms. At economic parity, the diverse business community will be larger than the economies of Russia, Italy or Spain. At economic parity, we reduce the unemployment rate from the current level of about 9.4 percent to 7.5 percent. At economic parity, the tax-base that is generated could fund 100 percent of Head Start, 100 percent of State Children's Health Insurance Program or a full 10 percent of the cost estimate to reform healthcare.

In closing, I'd like to again congratulate the Minority Business Development Agency on their 40th Anniversary and reiterate the importance of minority businesses to the economy.

Mr. Speaker, I move to suspend the rules and agree to the resolution (H. Res. 215) congratulating the Minority Business Development Agency on its 40th anniversary and commending its achievements in fostering the establishment and growth of minority businesses in the United States.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks on this legislation and to insert extraneous material thereon.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise in support of House Resolution 215, which congratulates the Minority Business Development Agency for its 40 years of commendable service to America's minority-owned businesses.

The Minority Business Development Agency has had a large presence in Indiana and continues to promote growth and achievement in this economic crisis.

Since its establishment, the Agency's mission has been to foster the creation of minority-owned businesses in the U.S. In fact, this organization has operated as the only Federal agency created specifically to serve minority-owned businesses through its network of over 40 centers nationwide.

Since its inception in 1969, over 3.6 million minority-owned businesses have been opened, creating over 4.7 million jobs. This amazing growth has accounted for $661 billion in revenue. Over the last 40 years, these businesses have flourished as a result of consulting services provided by the Agency to over 625,000 firms.

During this economic crisis, the Minority Business Development Agency's services are more critical than ever. As minority-owned businesses continue to struggle, this organization provides a lifeline to an essential component of our Nation's economy.

In 2008, despite the ongoing recession, the Agency assisted more than 25,000 minority-owned businesses. As a result, thousands of Americans are now gainfully employed. Today, the Agency continues to work diligently to assist minority-owned businesses by identifying opportunities available through the Recovery Act.

Mr. Speaker, I congratulate the Minority Business Development Agency for its four decades of admirable successes in fostering our Nation's minority-owned businesses. I urge my colleagues to vote in support of House Resolution 215.

Mr. Speaker, I reserve the balance of my time.

Mr. Speaker, I yield to Mr. Honda, the sponsor of this resolution, as much time as he may consume.

Mr. Speaker, I yield back the balance of my time.

Mr. Speaker, I extend my strong support to H. Res. 215, which congratulates the Minority Business Development Agency for its accomplishments on its 40th anniversary.

For forty years, the Minority Business Development Agency has fostered the establishment and growth of minority-owned businesses in America. Since the agency's founding in 1969, it has assisted 625,000 minority businesses and helped them secure more than $25 billion in loans and bonding. In 2008, it served 25,000 businesses and contributed to the creation of over 5,000 new jobs. The Minority Business Development Agency is the only federal agency dedicated to minority business enterprise and works to achieve entrepreneurial parity so that minority businesses are represented proportionally to the minority population in this country.

While the number of minority businesses in the United States has grown today to 4 million from only 322,000 in 1969, the growth of minority firms has not kept pace with the growth of the minority population. Minority groups represent 26 percent of the country's population, but own only 12 percent of the nation's businesses and receive only 6 percent of total sales.

Nevertheless, minority enterprises account for $668 billion in total annual sales receipts and employ 5 million people. By 2042, minorities in America will become a numerical majority. Based on this population shift, it is clear that the success of the American economy is directly linked to the success of minority businesses, which are in a unique position to support the vibrancy of local communities. Supporting minority businesses is not only beneficial to minority enterprise, but to communities and people who depend on those businesses as well.

As the Minority Business Development Agency enters its fifth decade, I urge the agency to continue its efforts to help minorities achieve entrepreneurial parity, contribute to the health of the national economy and communities across America. I am proud to celebrate the achievements of the Minority Business Development Agency on its 40th anniversary and I urge my colleagues to support H. Res. 215.

Madam Speaker, I rise today in support of H. Res. 215 to celebrate the 40th Anniversary of the Minority Business Development Agency, a member of the Department of Commerce.

Established on March 5, 1969, the Minority Business Development Agency is the only federal agency specifically created to foster the establishment and growth of minority-owned businesses in America. With five regional offices in Atlanta, Chicago, Dallas, New York and San Francisco, the Minority Business Development Agency network offers a broad range of services to minority entrepreneurs that are strategically located in areas with large concentrations of minority businesses. As a Representative of an area with a large concentration of minority-owned businesses, and as a business owner myself, I am especially aware of the necessity for the services provided by the Minority Business Development Agency business specialists.

Created in the midst of the Civil Rights Era, the Minority Business Development Agency has participated in many extraordinary events and left an impressionable footprint in its four decades of work. It participated with the International Trade Administration in the first trade mission to Bahrain, and many ITA missions with minority business delegations followed due to the success of this mission. Additionally, the Agency coordinated and supported disaster relief efforts for minority businesses following the devastating aftermath of the 1992 Los Angeles riots and the hurricanes that ravaged many of the coastal communities along the Gulf of Mexico.

With a current focus on access to capital for minority-owned businesses, I look forward to celebrating the future success of this organization. I urge my colleagues to join me in commending the Minority Business Development Agency on its 40 years of prosperity and endeavoring to advance minority businesses in our nation.