WASHINGTON, D.C. (May 1, 2024) – Eric Morrisette, Acting Under Secretary of Commerce for Minority Business Development Agency (MBDA), joined the National Association of Hispanic Publications (NAHP) Legislative Summit 2024 at the White House, where he participated in a panel discussion with Cabinet Members and other leaders to highlight the Administration’s accomplishments for the Latino community.
Acting Under Secretary Morrissette emphasized MBDA’s impact through initiatives like the Capital Readiness Program (CRP), designed to help minority and other underserved entrepreneurs access capital, and MBDA’s support for and investments in programs that include services for Hispanic-owned businesses, including three Hispanic Chambers of Commerce.
“Organizations like the NAHP are critical to connecting minority and underserved communities with the news, knowledge, and services they need to grow and establish their enterprises,” said Acting Under Secretary Morrissette. “MBDA will continue to prioritize connecting with the communities we serve and expanding opportunities for Hispanic-owned businesses and all minority business enterprises to thrive.”
Alongside Acting Under Secretary Morrissette, panel participants included U.S. Department of Health and Human Services Secretary, Xavier Becerra; White House Director of the Office of Intergovernmental Affairs, Tom Perez; U.S. Department of Housing and Urban Development (HUD) Assistant Secretary for Administration, Elizabeth de León Bhargava; and Kirabo Jackson, Member of the President’s Council of Economic Advisers.
“The Biden-Harris Administration and MBDA are making historic investments in Latino businesses, communities, and families and we are proud to have been able to convene this important discussion alongside our publishers, also small business owners, who will ultimately take it back to Latino readers.” President Alvaro Gurdián.
Since 2019, the share of Hispanic families that own businesses has increased 40 percent — the fastest growth rate in 15 years. The year 2022 also saw the lowest average annual unemployment rate for Latino Americans on record, 4.5%, down from 8.5% when President Biden took office.
About the Minority Business Development Agency (MBDA)
The U.S. Department of Commerce, Minority Business Development Agency is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority business enterprises (MBEs). For more than 50 years, MBDA’s programs and services have better equipped MBEs to create jobs, build scale and capacity, increase revenues, and expand regionally, nationally, and internationally.
About the National Association of Hispanic Publications (NAHP)
NAHP was founded in 1982 to promote Spanish language publications; the most effective medium to reach the fast-growing Hispanic community. Membership is open to Spanish language and Hispanic owned newspapers, magazines, and related media as well as businesses that offer products and services to this market throughout the United States. NAHP are a non-partisan trade advocacy organization representing the leading Spanish language publications across the United States.
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