MBDA made permanent

      The recent passage of President Joe Biden’s $1.2 trillion infrastructure bill included a provision to authorize the Commerce Dept.’s Minority Business Development Agency (MBDA) for the first time.

      The MBDA was created by an executive order in 1969 and was threatened with closure by President Donald Trump.

      Under the new law, “the MBDA is made permanent and will be expanded and elevated,” Commerce Secretary Gina M. Raimondo announced in a news release.

      Under the new law, the position of Under Secretary of Commerce for Minority Business Development, appointed by the president, will be created to lead the MBDA. A council of advisors also will be created.

      Also under the new law, the MBDA 1) will open regional offices and rural business centers; 2) increase the number and scope of its programs; 3) increase its grant-making capacities; and 4) form a new educational scholarship program for minority students.

      Miguel Estién currently is serving as acting national director of the MBDA.

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