September 2, 2015 – As Labor Day approaches, and the country celebrates the economic and social progress of the American workforce, a new study shows the enormous impact that minority-owned businesses have on the economy.
The National Minority Supplier Development Council (NMSDC), in partnership with The Institute for Thought Diversity (ITD), researched the effects of their nearly 12,000 certified minority-owned businesses on the U.S. economy and released their findings in an Economic Impact Report. The report revealed that these MBEs produce over $400 billion dollars in annual revenue and actively employ, either directly or indirectly, more than 2.2 million people. Additionally, minority-owned businesses contribute close to $49 billion in local, state and federal tax revenues.
To read the full report click here.