The Minority Business Development Agency (MBDA) is Permanently Authorized in new Bipartisan Infrastructure Deal

WASHINGTON – U.S. Secretary of Commerce Gina M. Raimondo is pleased to announce that the U.S. Department of Commerce Minority Business Development Agency (MBDA) is made permanent and will be expanded and elevated with the passage of this historic legislation. This action allows the agency to increase their programs and outreach to the Nation’s more than 9 million minority-owned businesses.

“President Biden has made clear his commitment to not just rebuilding to how things were before COVID-19, but to building back better and more equitably,” said U.S. Department of Commerce Secretary Gina M. Raimondo. “The Minority Business Development Agency is ready to step into this historic moment and build on its success – because we recognize that America’s road to recovery runs through our minority business community. Making MBDA a statutory Agency provides MBDA with the authorities, workforce and resources needed to help level the playing field on behalf of minority businesses and minority entrepreneurs.”

“The Department of Commerce and MBDA play a pivotal role in promoting the growth and competitiveness of minority-owned businesses,” said U.S. Department of Commerce Deputy Secretary Don Graves. “This legislation is transformative and signifies a new era in minority business development and progress toward addressing the long-standing racial disparities in access to capital, contracts, and business ecosystems.”

“Created by Executive Order in 1969, the Minority Business Development Agency is the only federal agency solely dedicated to the growth and global competitiveness of minority business enterprises,” said Miguel Estién, Acting National Director of the Minority Business Development Agency. “The Minority Business Development Act of 2021 is one of the most significant pieces of legislation impacting the minority business community in the last 50 years. I look forward to helping lead the Agency’s transformation at this critical juncture in our nation’s history.”

The bill expands the geographic reach of the MBDA by authorizing the creation of regional MBDA offices, rural business centers, and increasing the number and scope of existing programs.

The Act also:

  • Creates a presidentially appointed and Senate-confirmed Under Secretary of Commerce for Minority Business Development to lead the agency.
  • Increases the MBDA’s grant-making capacity to partner with community and national nonprofits engaged in private and public sector development as well as research.
  • Mandates the creation of the Parren J. Mitchel Entrepreneurship Education Grants Program to cultivate the next generation of minority entrepreneurs on the campuses HBCUs and MSIs across the Nation.
  • Creates a council to advise the Under Secretary on supporting MBEs; and
  • Authorizes the Under Secretary to coordinate federal MBE programs.

The MBDA will report on the implementation milestones of the Minority Business Development Act of 2021 through the website, www.MBDA.gov.

Sources: White House and MBDA • Cover Photo: bdpatoday


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Bipartisan Infrastructure Deal Fact Sheet

WASHINGTON (BDPA-DC) — “Infrastructure Week” closes today with new DOW, S&P 500, and Nasdaq records on Wall Street this week along with the passage of an epic infrastructure bill on Capitol Hill. The White House announced the Bipartisan Infrastructure Deal (Infrastructure Investment and Jobs Act), a once-in-a-generation investment in our nation’s infrastructure and competitiveness.

For far too long, Washington policymakers have celebrated an “infrastructure week” without ever agreeing to build infrastructure. The President promised to work across the aisle to deliver results and rebuild our crumbling infrastructure. After the President put forward his plan to do exactly that and then negotiated a deal with Members of Congress from both parties, this historic legislation is moving to his desk for signature.

This Bipartisan Infrastructure Deal will rebuild America’s roads, bridges and rails, expand access to clean drinking water, ensure every American has access to high-speed internet, tackle the climate crisis, advance environmental justice, and invest in communities that have too often been left behind. The legislation will help ease inflationary pressures and strengthen supply chains by making long overdue improvements for our nation’s ports, airports, rail, and roads. It will drive the creation of good-paying union jobs and grow the economy sustainably and equitably so that everyone gets ahead for decades to come. Combined with the President’s Build Back Framework, it will add on average 1.5 million jobs per year for the next 10 years.

According to the White House, this historic legislation will:                               

Deliver clean water to all American families and eliminate the nation’s lead service lines. Currently, up to 10 million American households and 400,000 schools and child care centers lack safe drinking water. The Bipartisan Infrastructure Deal will invest $55 billion to expand access to clean drinking water for households, businesses, schools, and child care centers all across the country. From rural towns to struggling cities, the legislation will invest in water infrastructure and eliminate lead service pipes, including in Tribal Nations and disadvantaged communities that need it most.

Ensure every American has access to reliable high-speed internet. Broadband internet is necessary for Americans to do their jobs, to participate equally in school learning, health care, and to stay connected. Yet, by one definition, more than 30 million Americans live in areas where there is no broadband infrastructure that provides minimally acceptable speeds – a particular problem in rural communities throughout the country. And, according to the latest OECD data, among 35 countries studied, the United States has the second highest broadband costs. The Bipartisan Infrastructure Deal will deliver $65 billion to help ensure that every American has access to reliable high-speed internet through a historic investment in broadband infrastructure deployment. The legislation will also help lower prices for internet service and help close the digital divide, so that more Americans can afford internet access.

Repair and rebuild our roads and bridges with a focus on climate change mitigation, resilience, equity, and safety for all users. In the United States, 1 in 5 miles of highways and major roads, and 45,000 bridges, are in poor condition. The legislation will reauthorize surface transportation programs for five years and invest $110 billion in additional funding to repair our roads and bridges and support major, transformational projects. The Bipartisan Infrastructure Deal makes the single largest investment in repairing and reconstructing our nation’s bridges since the construction of the interstate highway system. It will rebuild the most economically significant bridges in the country as well as thousands of smaller bridges. The legislation also includes the first ever Safe Streets and Roads for All program to support projects to reduce traffic fatalities, which claimed more than 20,000 lives in the first half of 2021.

Improve transportation options for millions of Americans and reduce greenhouse emissions through the largest investment in public transit in U.S. history. America’s public transit infrastructure is inadequate – with a multibillion-dollar repair backlog, representing more than 24,000 buses, 5,000 rail cars, 200 stations, and thousands of miles of track, signals, and power systems in need of replacement. Communities of color are twice as likely to take public transportation and many of these communities lack sufficient public transit options. The transportation sector in the United States is now the largest single source of greenhouse gas emissions. The legislation includes $39 billion of new investment to modernize transit, in addition to continuing the existing transit programs for five years as part of surface transportation reauthorization.  In total, the new investments and reauthorization in the Bipartisan Infrastructure Deal provide $89.9 billion in guaranteed funding for public transit over the next five years — the largest Federal investment in public transit in history. The legislation will expand public transit options across every state in the country, replace thousands of deficient transit vehicles, including buses, with clean, zero emission vehicles, and improve accessibility for the elderly and people with disabilities.

Upgrade our nation’s airports and ports to strengthen our supply chains and prevent disruptions that have caused inflation. This will improve U.S. competitiveness, create more and better jobs at these hubs, and reduce emissions. Decades of neglect and underinvestment in our infrastructure have left the links in our goods movement supply chains struggling to keep up with our strong economic recovery from the pandemic. The Bipartisan Infrastructure Deal will make the fundamental changes that are long overdue for our nation’s ports and airports so this will not happen again. The United States built modern aviation, but our airports lag far behind our competitors. According to some rankings, no U.S. airports rank in the top 25 of airports worldwide. Our ports and waterways need repair and reimagination too. The legislation invests $17 billion in port infrastructure and waterways and $25 billion in airports to address repair and maintenance backlogs, reduce congestion and emissions near ports and airports, and drive electrification and other low-carbon technologies. Modern, resilient, and sustainable port, airport, and freight infrastructure will strengthen our supply chains and support U.S. competitiveness by removing bottlenecks and expediting commerce and reduce the environmental impact on neighboring communities.

Make the largest investment in passenger rail since the creation of Amtrak. U.S. passenger rail lags behind the rest of the world in reliability, speed, and coverage. China already has 22,000 miles of high-speed rail, and is planning to double that by 2035. The legislation positions rail to play a central role in our transportation and economic future, investing $66 billion in additional rail funding to eliminate the Amtrak maintenance backlog, modernize the Northeast Corridor, and bring world-class rail service to areas outside the northeast and mid-Atlantic. This is the largest investment in passenger rail since Amtrak’s creation, 50 years ago and will create safe, efficient, and climate-friendly alternatives for moving people and freight.

Build a national network of electric vehicle (EV) chargers. U.S. market share of plug-in EV sales is only one-third the size of the Chinese EV market. That needs to change. The legislation will invest $7.5 billion to build out a national network of EV chargers in the United States. This is a critical step in the President’s strategy to fight the climate crisis and it will create good U.S. manufacturing jobs. The legislation will provide funding for deployment of EV chargers along highway corridors to facilitate long-distance travel and within communities to provide convenient charging where people live, work, and shop. This investment will support the President’s goal of building a nationwide network of 500,000 EV chargers to accelerate the adoption of EVs, reduce emissions, improve air quality, and create good-paying jobs across the country.

Upgrade our power infrastructure to deliver clean, reliable energy across the country and deploy cutting-edge energy technology to achieve a zero-emissions future. According to the Department of Energy, power outages cost the U.S. economy up to $70 billion annually. The Bipartisan Infrastructure Deal’s more than $65 billion investment includes the largest investment in clean energy transmission and grid in American history. It will upgrade our power infrastructure, by building thousands of miles of new, resilient transmission lines to facilitate the expansion of renewables and clean energy, while lowering costs. And it will fund new programs to support the development, demonstration, and deployment of cutting-edge clean energy technologies to accelerate our transition to a zero-emission economy. 



Make our infrastructure resilient against the impacts of climate change, cyber-attacks, and extreme weather events.
Millions of Americans feel the effects of climate change each year when their roads wash out, power goes down, or schools get flooded. Last year alone, the United States faced 22 extreme weather and climate-related disaster events with losses exceeding $1 billion each – a cumulative price tag of nearly $100 billion. People of color are more likely to live in areas most vulnerable to flooding and other climate change-related weather events. The legislation makes our communities safer and our infrastructure more resilient to the impacts of climate change and cyber-attacks, with an investment of over $50 billion to protect against droughts, heat, floods and wildfires, in addition to a major investment in weatherization. The legislation is the largest investment in the resilience of physical and natural systems in American history.

Deliver the largest investment in tackling legacy pollution in American history by cleaning up Superfund and brownfield sites, reclaiming abandoned mines, and capping orphaned oil and gas wells. In thousands of rural and urban communities around the country, hundreds of thousands of former industrial and energy sites are now idle – sources of blight and pollution. Proximity to a Superfund site can lead to elevated levels of lead in children’s blood. The bill will invest $21 billion clean up Superfund and brownfield sites, reclaim abandoned mine land and cap orphaned oil and gas wells. These projects will remediate environmental harms, address the legacy pollution that harms the public health of communities, create good-paying union jobs, and advance long overdue environmental justice This investment will benefit communities of color as, it has been found that 26% of Black Americans and 29% of Hispanic Americans live within 3 miles of a Superfund site, a higher percentage than for Americans overall.

— Source: The White House Images: BDPA-DC/Getty Images


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An “Ecological Paradise”: Tesla Gigafactory Austin is now Official

AUSTIN, TX (BDPA Austin) — “We’re going to make it a factory that is going to be stunning; it’s right on the Colorado River. So we’re actually going to have to have a boardwalk over you, hiking, biking trail. It’s going to basically be an ecological paradise,” Elon Musk announced during the company’s earnings call this week.

tesla-model-x-rear-three-quarter-with-doors-openTesla’s mission is to accelerate the world’s transition to sustainable energy through increasingly affordable electric vehicles and renewable energy generation and storage systems. At the heart of these products are batteries. Tesla has seen enormous demand for energy products and electric vehicles. Today, there are more than 350,000 Tesla vehicles on the roads worldwide, and we’ve installed over 1 GWh of energy storage across the globe.

The Gigafactory was born out of necessity and will supply enough batteries to support Tesla’s projected demand. In mid-2018, battery production at Gigafactory 1 reached an annualized rate of roughly 20 GWh, making it the highest-volume battery plant in the world. Tesla currently produces more batteries in terms of kWh than all other carmakers combined. With the Gigafactory ramping up production, Tesla’s cost of battery cells will significantly decline through economies of scale, innovative manufacturing, reduction of waste, and the simple optimization of locating most manufacturing processes under one roof.

tesla_powerpack

Powerpack (shown above) integrates batteries, power electronics, thermal management and controls into a turnkey solution that’s easy to install for businesses and utilities.   Photo credits: Tesla

The Gigafactory is designed to be a net-zero energy factory upon completion. It will not consume any fossil fuels – there is no natural gas piped to the site nor are there permanent diesel generators being used to provide power. Emergency backup is fed from various electric sources, including renewable energy and storage products.

— Source: Tesla, Inc.

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Elon Musk’s ‘Master Plan’ for Tesla: Solar power, fully autonomous car-sharing and heavy vehicles

Tesla chief executive lays out plan for combination of Tesla and SolarCity

MarketWatch‘s Jeremy Owens reports Tesla Motors Inc. Chief Executive Elon Musk doesn’t want to stop with electric cars: “He sees a future with heavy electric trucks and buses, as well as autonomous electric car-sharing networks, all powered by solar energy.”

That is the vision Musk laid out, part of a push by the car maker’s leader for the acquisition of SolarCity, a residential solar-power company in which Musk is heavily invested. In a recent blog post, which Musk had been teasing for more than a week on Twitter, he said that solar-power generation captured by Tesla’s Powerwall batteries is key to his vision for the future of Tesla.

Musk summed up his original “Master Plan” listed below  verbatim:

• Build sports car.
• Use that money to build an affordable car.
• Use that money to build an even more affordable car.
• While doing above, also provide zero emission electric power generation options.

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Source: MarketWatch.com
Photo: Tesla Motors

 

Washington D.C. Commission Approves Exelon’s Merger with Pepco

$7 Billion deal creates the nation’s top power distributor

WASHINGTON—Washington D.C. regulators on Wednesday, March 23, 2016, approved power company Exelon Corporation‘s merger with Pepco Holdings Inc., a decision that clears the last regulatory hurdle facing the $6.8 billion deal to create the country’s top power distributor.

pepco-exelonThe D.C. Public Service Commission, which regulates power, gas and telecommunication companies in the District of Columbia, voted to approve the merger, a commission spokeswoman said. The vote was 2 to 1.

Pepco’s shares rose 28 percent, or $5.92, to $27.16 while Exelon’s shares were largely unchanged.

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Sources: CNBC and Reuters    Image courtesy: WMAL
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