WASHINGTON, Aug. 1, 2014 (GLOBE NEWSWIRE) -- The United States Hispanic Chamber of Commerce (USHCC) applauds the Obama administration for surpassing its goal for government contracting with small businesses. SBA Administrator Maria Contreras-Sweet announced today that $83.1 billion in federal contracting had been apportioned to small businesses in 2013 alone, marking the first time the federal government has met its self-imposed mandate since 2005.
"The USHCC is thrilled by Administrator Contreras-Sweet's announcement today; for the first time in eight years, the federal government has not only met its procurement commitments to American small businesses, but has actually surpassed them. This achievement on behalf of small businesses is one of many that the current administration can be proud of. In the past five years, small businesses have received numerous benefits, including 18 tax cuts, nearly $460 billion in federal contracts and a record level of SBA loans," said USHCC President & CEO Javier Palomarez. "These efforts demonstrate an understanding that small businesses are the lifeblood of our nation's economy, and are responsible for two-thirds of all new American jobs. We will continue to work with Ms. Contreras-Sweet, the administration, and Congress to ensure American businesses have the resources they need to to out-compete, out-innovate, and out-build the rest of the world."
With the enactment of the American Recovery and Reinvestment Act of 2009, more than 30 percent of contracting dollars were directed to to small businesses. The establishment of the President's Interagency Task Force on Small Business Procurement and the White House Small Business Procurement Group have helped maximize opportunities. Also, the Small Business Jobs Act of 2010 helped coordinate efforts between the U.S. Small Business Administration, the federal government, and our country's business owners.
"Today's announcement is a clear victory for American small business owners, a diverse group of entrepreneurs who have stayed the course during one of the most trying economic times in our nation's history. Today, our country is coming back stronger than ever, and those who study the numbers know that this recovery is due to the resolve of our nation's business men and women," said USHCC Chairman Marc Rodriguez. "The USHCC looks forward to seeing an extensive analysis of these procurement achievements, examining the number of contracts allotted to minority-owned businesses, and working with the federal government to help our membership secure additional contracts."
About the 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.
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