Hoyer Meets with Hispanic Business Leaders

Hoyer Meets with Hispanic Business Leaders

Over Lunch, Stresses the Importance of Growing Minority Businesses

Congressman Steny H. Hoyer (D-MD) today was joined by members of the local Hispanic business community at the Coco Cabana Bar and Grill in Hyattsville for a discussion about the importance of investing in minority businesses.

"Hispanics are leading over 1.6 million small businesses with annual revenues of over $220 billion," Hoyer said. "Their combination of hard work and entrepreneurial spirit has paid great dividends for our nation's economy."

According to the Small Business Administration (SBA), there were 15,364 Hispanic-owned firms in Maryland in 2002, an increase of 38% from 1997. "Our state has benefited from the outstanding contributions of Hispanic businesses," Hoyer said. "To continue this upward trend, we must ensure that their concerns are heard at the federal level."

Hoyer is a co-sponsor of H.R. 4474, the Minority Owned Venture Empowerment (MOVE) Act, a bill to modernize SBA's 8(a) minority business development program, which Hispanics are eligible for. Last fall, he partnered with the General Services Administration and local small business organizations to host two small and minority business forums in Bowie and La Plata.

"The business leaders I met with today are fostering prosperity in our state," Hoyer said. "I will continue to fight for increased federal investment in their critical entrepreneurship."

Attendees included Wilson Aldunate, President of the Maryland Hispanic Chamber of
Commerce, and Rosa Amo, President of the Prince George's County Hispanic-Latino Chamber
of Commerce.

http://hoyer.house.gov/Newsroom/index.asp?ID=769&DocumentType=Press+Release