According to
Politic365, "Officials from the Commerce Department briefed members of Congress..to inform them that the Obama Administration plans to close all five regional Offices of the Minority Business Development Agency.
According to members at the briefing the reason given was cost savings. The Office of Minority Business Development has a total budget of $30 million dollars. The five regional offices are located in Atlanta, Chicago, Dallas, New York, Los Angeles and San Francisco.
The Office of Minority Business Development‘s mission is to promote competitiveness and provide access to capital and contracts to minority businesses. In 1969 Richard Nixon established the Office of Minority Business Enterprise by executive order. During the Carter Administration the name was changed to the Office of Minority Business Development.
Present at the meeting with Commerce officials were Congressional Hispanic Caucus Chair Charlie Gonzalez (D-TX), Congressional Asian Pacific American Ca…