U.S. Department of Commerce, Minority Business Development Agency (MBDA), in collaboration with the Milken Institute, convened prominent scholars, economists and business leaders to combine research efforts in support of the growth and expansion of minority business enterprises (MBEs).  Fifty years after the inception of the MBDA, it is estimated there are more than 11 million minority-owned firms.

“Minority businesses operate in an ever-changing domestic and global economic environment,” said U.S. Secretary of Commerce Wilbur Ross.  “With a complex array of variables perpetually at play, it is crucial for MBEs to remain flexible to the realities of the business world, and for government to create new pathways to success.”

Attendees at the MBE Policy Symposium dialogued with experts such as Matthew J. Slaughter, Dean of the Dartmouth College Tuck School of Business, and a former member of the Council of Economic Advisors; and William Bradford, Dean of the University of Washington Foster School of Business, and Partner in the Ascend 2020 Initiative.   Other contributors to the conversation included Gregory B. Fairchild, Academic Director of Public Policy and Entrepreneurship, Darden School of Business, University of Virginia; Melissa Koide, Founder and CEO, FinRegLab; Shelley Stewart III, Partner, McKinsey & Company; and Carol Caldwell, Chief for Economic Statistical Methods Division, U.S. Census Bureau. The discussion emphasized that policies intended to drive positive change for MBEs must be considered in the context of the future of the U.S. economy.

Yet, despite decades of research about MBEs, there are data limitations hindering the ability to develop effective policy in this area.  Existing data, largely survey-based and incomplete, points to disparities, but it has yet to isolate and clearly identify the causes and consequences of these disparities. MBDA, the only federal agency solely dedicated to MBEs, established the Office of Policy Analysis and Development (OPAD) to generate solutions to persistent disparities in access to capital and MBE annual revenues.

By collaborating with renowned institutions like the Milken Institute, The MacroDyn Group and others, MBDA plans to pursue a rigorous, evidenced-based, empirical and analytical foundation for policy development and public engagement.  Ideas for new MBE-focused research topics, datasets and economic modeling were discussed at length during the MBE Policy Symposium and networking breaks.

“Big data, new simulation tools, predictive analytics and the application of machine-learning algorithms offer great promise for researchers in the MBE space,” said Henry Childs II, MBDA National Director.  Childs further stated, “These new techniques have the potential to create inclusive growth strategies and be the building blocks for evidence-based policy making.”

As demographics shift, and minority groups become a majority of the United States population, it is imperative for the growth of the U.S. economy that MBEs are well understood. To achieve that, MBDA is expanding its engagement with statistical agencies, academic researchers, NGOs and other stakeholders to ensure that data continues to be pursued, sourced and continually improved.

“The Milken Institute is delighted to work with MBDA to advance discussions designed to support minority enterprises. Our goal is to explore a host of national policy initiatives to address the lack of capital in low- and moderate-income communities, and to promote research on MBEs and their impact on jobs and wealth creation.” Aron Betru, Managing Director, Milken Institute Center for Financial Markets.

About the Minority Business Development Agency (MBDA) and National Minority Enterprise Development (MED) Week

MBDA is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority business enterprises through the mobilization and advancement of public and private sector programs, policy and research. Our services better equip minority-owned firms to create jobs, build scale and capacity, increase revenues and expand regionally, nationally and internationally. In 2019, MBDA commemorates 50 years of economic empowerment through entrepreneurship and recommits to Winning the Future for all U.S. minority-owned businesses. For more information visit www.mbda.gov.

Since 1983, every U.S. president has issued a Presidential Proclamation designating National MED Week to recognize the contributions of the minority business community to the U.S. economy. MBDA has hosted the National MED Week celebration since its inception.  The 2019 National MED Week events are sponsored by Facebook, The Coca-Cola Company, Raytheon, AT&T and IBM.  The MBE Policy Symposium was supported by The Milken Institute and Mintz.  Learn more at https://medweek.mbda.gov.

David L. Madeira, Vice Chairman of America’s Automotive Trust announced today that the organization is distinguishing John D. Barline with the 2019 President’s Award for Outstanding Service to LeMay – America’s Car Museum (ACM).

The President’s Award recognizes a member of the automotive community that has made significant contributions to the Museum’s success as the home of the LeMay Collection and nation’s largest automotive museum. Barline was instrumental in establishing ACM, securing land agreements with the city of Tacoma, handling disputes, planning a capital campaign, and helping secure the New Market Tax Credit Financing agreement.

“What a wonderful and totally unexpected honor to receive the ACM President’s Award. It truly means a lot to me since it was Harold who got me involved at the very beginning,” said Barline. “So, I really have to thank my good friends, Harold and Nancy LeMay for this—Thank you Harold and thank you Nancy!

“I vividly recall back in the ’90s having many long meetings centered around how to keep Harold’s car collection together, the creation of the Museum, his purchase of Marymount, the city’s desire for a location next to the Tacoma Dome, the first nonfamily board of directors, and so forth.”

Barline’s name will be placed permanently on a plaque outside the administrative offices at ACM with other recipients from past years. The award will be conferred prior to the Wheels & Heels Annual Gala on September 7 at ACM.

“Each year we make the presentation of the President’s Award to honor those that have taken large who have made outstanding contributions to the success of America’s Car Museum,” said Madeira. “John has been an important partner in many ways, providing us with wise legal and strategic counsel and strong leadership as Board Chairman when we launched the drive to build the Museum. We are thrilled to be able to present him with this honor, forever recognizing his many, significant contributions to LeMay – America’s Car Museum.”

The groundbreaking at America’s Car Museum took place in 2010, followed by its grand opening in summer 2012. The 4-story, 165,000 sq.-ft. Museum is the largest auto museum in North America and houses over 300 vehicles. Funding for the massive complex took part over nearly a decade with the help of Barline, Madeira and many others.

Barline added: “There are lots of memories, but of special meaning was the hiring of one David Madeira to be our first true museum director. He became our fearless leader, raised big dollars, created a hard working national board, and got the museum built and running. What a spectacular and special place Tacoma now has, the LeMay – America’s Car Museum! Thank you David and thanks to our tireless board of directors. It’s been a long road and although quite challenging at times, it has been fun and most definitely worthwhile!”

For more information on AAT, visit www.aat.org.

About America’s Automotive Trust (www.aat.org)

America’s Automotive Trust (AAT), headquartered in Tacoma, Washington, is a not-for-profit corporation that seeks to secure America’s automotive heritage and to transfer the skills and knowledge necessary for the future of collector vehicles and the enthusiast community for generations to come. AAT is made up of four founding members: LeMay – America’s Car Museum, the RPM Foundation, Club Auto and the Concours Club.

About LeMay – America’s Car Museum (americascarmuseum.org)

America’s Car Museum (ACM), a member of America’s Automotive Trust, is an international destination for families and auto enthusiasts to celebrate America’s love affair with the automobile and learn how it shaped our society. Based in Tacoma, Wash., the stunning 165,000-sq.-ft. facility has been recognized as one of MSN’s 10 Best Automotive Museums worldwide, USA Today’s 10

Best Museums in Seattle and KING5’s Best Museum in Western Washington. ACM serves as an educational center for students of all ages, features 12 rotating exhibits and hosts AAT’s annual

Signature Events.