MBDA gets 27% budget lift

      The Commerce Dept.’s Minority Business Development Agency has been allocated a $70 million budget in the 2023 consolidated appropriations law.

      That is an increase of $15 million over last year’s enacted level, a 27% increase.

      The appropriations law also “encourages” MBDA to provide up to $5 million for Native American Business Development and up to $3 million for the Minority Serving Institutions Entrepreneurship Pilot.

      The law also supports expanding MBDA’s Business Center and Specialty Projects Center programs to every state.

      In related news, MBDA will distribute $93.5 million in grants for minority entrepreneurship (see related story).

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MBDA gets 27% budget lift

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