Minority business center established with federal funds
Published on 10/07/2013
In mid-September, the U.S. Department of Commerce announced that it is awarding the South Bronx Overall Economic Development Corporation (EDC) a $1.5 million grant to operate a Minority Business Development Agency (MBDA) Business Center in New York City.
The EDC will receive federal funds over a three-year period, which will be used to help minority-owned businesses grow, create jobs, and increase their competitiveness in the marketplace. A site and open date for the business center has not yet been announced.
The MBDA, which was founded by the Nixon administration in 1969 to promote the development of the nation's minority-owned businesses, also funds Business Centers in Midtown Manhattan and Williamsburg, Brooklyn.
