U.S. Deputy Secretary of Commerce Bruce Andrews last week spoke at the National Asian Pacific Islander American Chamber of Commerce and Entrepreneurship (ACE) Conference and reaffirmed the Administration’s commitment to strengthening AAPI businesses in the U.S. and around the globe. He showcased the Department’s wide array of programs available to help the AAPI community successfully grow their businesses and knock down barriers in the process.  

With more than two million thriving AAPI businesses, the Commerce Department is focused on providing the necessary tools to help AAPI entrepreneurs stay viable and competitive in the global marketplace through partnering with the Minority Business Development Agency (MBDA), International Trade Administration (ITA), Economic Development Administration (EDA), Census Bureau, and the SelectUSA program just to name a few.

During his remarks, Deputy Secretary Andrews emphasized the important role the Department’s agencies play in assisting AAPI entrepreneurs and innovators in everything from providing business counseling and other federal government resources to protecting intellectual property rights more expediently to disseminating data that spawn new businesses and promote better decision-making in existing businesses. Today, there are more than 1.5 million AAPI-owned firms that generate more than $500 billion in revenue. They employ more than 50 percent of all workers in minority firms nationwide.

MBDA National Director Alejandra Castillo also spoke to the chamber about the importance of leveraging strategic partnerships and export opportunities. MBDA currently has 44 business centers designed to assist businesses gain more access to contracts, working capital and global markets. They also opened the first ever MBDA Federal Procurement Center designed solely to help minority-owned firms with annual revenues of more than $1 million, such as AAPI businesses, overcome some of the challenges it has faced in the past when accessing federal programs.

Through a myriad of services, MBDA has also helped AAPI entrepreneurs successfully gain contracts and enter into new markets around the world, including Vietnam, Mexico and the United Arab Emirates (UAE). 

ITA is also helping small- and medium sized businesses sell their products and services around the world, with more than 100 Export Assistance Centers across the U.S. that offer hands on marketing and trade and finance support.

The Commerce Department remains steadfast in its efforts to continue helping AAPI businesses grow. 

Guest blog post from Assistant Secretary of Commerce for Economic Development, Jay Williams

Since taking office, President Obama and his administration have worked to help communities and regions impacted by natural disasters and major economic challenges respond and rebuild stronger than before.

This week, on a visit to Colorado, I was pleased to have the opportunity to announce two Economic Development Administration investments that support those efforts in two communities.

In Estes Park, a picturesque town located at the entrance to Rocky Mountain National Park, residents are working diligently to rebound from severe flooding that hit them hard as they were preparing for the busy snow season – and the economic tourism boon that comes with it - last fall. 

To help the town following the federally-declared flood disaster, I was honored to announce a $300,000 EDA investment to help the Town develop a strategy that will guide their economic diversification and resiliency efforts. One key component of this grant is developing specific actions to make use of Estes Park’s existing fiber optic ring to deliver improved broadband services to the town and surrounding region. By working with other affected communities – including nearby Loveland and Lyons – this strategy will help the region diversify while strengthening their existing established industry clusters.

In Colorado’s central western region, the recent closure of Oxbow Elk Creek coal mine has resulted in a regional economic emergency. 

To help the region respond, I announced a $245,000 EDA grant to the Region 10 League for Economic Assistance and Planning of Montrose, Colorado, to help create a strategy that aims to improve and enhance the economic resiliency and sustainability of Delta and Gunnison counties.

Resiliency is critical to economic prosperity: all communities—whether in a position likely to weather significant natural disasters, or struggling to deal with immediate or pending catastrophes—must have or be able to develop strategies that can mitigate an economic downturn and support long-term recovery efforts.

I am proud of the important role EDA plays in helping communities get back on their feet stronger than before.