The National Minority Supplier Diversity Council (NMSDC) applauds President Biden’s address to Congress in which he tactically uplifts many concerns that specifically impact historically underserved minority-owned businesses. During the past two years, this Administration has seen significant growth with the creation of over 10.5 million new businesses and an increase of 517,000 jobs according to the most recent job report in January, showing an increase of three times what estimates were projected and lowering the unemployment rate to the lowest in 53 years specifically in Black and Hispanic communities. This historic growth in business and job creation comes after the passage of critical bipartisan legislation, such as the Bipartisan Infrastructure Law and the CHIPS and Science Act. Both of these laws authorized billions of dollars for federal contracting and procurement, and have no doubt contributed to this robust job creation and business growth. This immediately impacts our minority business enterprises (MBEs), as many MBEs hire within their communities, providing opportunities and access to lower the racial wealth gap.
NMSDC urges President Biden and Congress to continue to work for bipartisan solutions to promote policies that impact MBEs through contracting opportunities that promote economic growth.
Ying McGuire
CEO and President
NMSDC
