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…
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.