WASHINGTON, July 11, 2014 (GLOBE NEWSWIRE) -- The United States Hispanic Chamber of Commerce (USHCC) applauds Johnson & Johnson, a leading global healthcare products and services company, for joining President Obama's initiative to support small businesses by expediting the payment process to supply chain providers. Alex Gorsky, CEO of Johnson & Johnson, met with President Obama today to highlight best practices for helping small businesses scale, create jobs, and receive payment within 15 days.
"The USHCC is proud to see President Obama call on Johnson & Johnson's exemplary leadership demonstrated in its robust, inclusive, and world-class supply chain," said USHCC President & CEO Javier Palomarez. "Our association has worked closely with the company for years, helping find the best small businesses for the job. Through its efforts, Johnson & Johnson has bolstered the growth of thousands of small businesses throughout the nation, enabling them to enrich local communities and provide capital where it is needed most. We applaud the collaborative efforts between the White House and Johnson & Johnson, and will continue to call on other corporate partners to follow their example."
President Obama's initiative is modeled on a government program called QuickPay, where various agencies pledge to expedite payment to contractors, thereby facilitating funding downstream to small suppliers. According to the administration, more than 172,000 small businesses have benefited from the program, which has generated over $1 billion in revenues during the past year alone.
Ruben Taborda, Chief Procurement Officer-Medical Devices/Enterprise Supplier Diversity at Johnson & Johnson, was awarded the USHCC's Corporate Advocate of the Year Award for his distinguished commitment and performance in providing procurement opportunities for small firms on behalf of the company. Taborda is responsible for managing Johnson & Johnson's $15 billion Global Supplier Diversity spend within the company's Medical Devices Division, allocated to promoting innovation, value creation and supplier diversity opportunities.
"Every year, Johnson & Johnson recommits itself to our nation's small business community with a supply chain that is second to none," said USHCC Chairman Marc Rodriguez. "The company stands among its peers as a proven champion of small business; the immediate drivers of job creation and upward mobility in America. We are thrilled that President Obama has recognized Johnson & Johnson's contributions, and look forward to advancing opportunities for American small businesses alongside the company."
Johnson & Johnson is a member of the USHCC's Million Dollar Club (MDC), a recognition bestowed on major US companies that invest millions of dollars with Hispanic Business Enterprises (HBEs) each year. In 2013, the company spent over $370 million with Hispanic suppliers. Johnson & Johnson is also among only 18 companies in the world to join the Billion Dollar Roundtable(BDR), a distinguished association of companies, each of whom invest over $1 billion annually with minority and women-owned firms.
About USHCC
Founded in 1979, the USHCC actively promotes the economic growth and development of our nation's entrepreneurs. The USHCC advocates on behalf of nearly 3.2 million Hispanic-owned businesses, that together contribute in excess of $468 billion to the American economy, each year. As the leading organization of its kind, the USHCC serves as an umbrella to more than 200 local chambers and business associations across the nation, and partners with more than 220 major corporations.
For more information, visit www.ushcc.com
Follow us on Twitter @USHCC