News - National
Less stimulus for minority firms
Posted: Mar 7, 2010 10:02 AM by Associated Press
The Obama administration is hearing a rising chorus of demands to steer more stimulus money to Hispanic and black businesses.
Those businesses are getting a disproportionately small number of federal stimulus contracts. Latinos own 6.8 percent of businesses but have received only 1.7 percent of federal stimulus contracts recorded in U.S. government data. Blacks own 5.2 percent of businesses but have gotten only 1.1 percent of that money.
Minority advocates are calling for the administration to be more inclusive on this front and to track more closely who receives the contracts. They say blacks and Latinos have been harder hit by the recession, and getting a fair share of stimulus contracts is key to the recovery of these communities.
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