USHCC Applauds Secretary Geithner for Treasury Hitting Small Business Contracting Goals

WASHINGTON, Dec. 16, 2011 /PRNewswire-USNewswire/ -- The United States Hispanic Chamber of Commerce (USHCC) today cheered Secretary Geithner and the staff of the U.S. Department of the Treasury for their landmark achievement of hitting their small business contracting goals. Each year, federal Departments and agencies work to meet an overall goal for the portion of goods and services they purchase from small businesses. They also set sub-goals for small businesses located in economically distressed areas or that are owned by service-disabled veterans, women, and minorities.  These goals support minority-owned businesses and encourage competition, so that taxpayer money is well spent.

In Fiscal Year 2011, Treasury set the standard for other federal bodies by exceeding its overall small business goal and each of its four sub-goals. Approximately 34 percent of its $2.2 billion contracting budget supported small businesses – a record achievement.

"Secretary Geithner has set the bar high for his colleagues in the Obama Administration," says USHCC President & CEO Javier Palomarez. "His work shows that prioritizing small business growth leads to real institutional transformation. We thank him for working with our members to create new opportunities for Hispanic business.  This landmark achievement is proof that this strategy is paying dividends."

The USHCC also wants to recognize key members of Secretary Geithner's staff who have led the day to day efforts to exceed these procurement goals:

• Neal Wolin, Deputy Secretary
• Daniel Tangherlini, Assistant Secretary for Management
• Don Graves, Deputy Assistant Secretary for Small Business, Community Development & Executive Director of the President's Council on Jobs and Competiveness
• Thomas Sharpe, Senior Procurement Executive
• Lorraine Cole, Director, Office of Minority and Women Inclusion

About the United States Hispanic Chamber of Commerce (USHCC)
Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of nearly 3 million Hispanic-owned businesses in the United States that combined generate in excess of $420 billion annually. It also serves as the umbrella organization for more than 200 local Hispanic chambers and business associations in the United States and Puerto Rico. For more information, visit www.ushcc.com

SOURCE United States Hispanic Chamber of Commerce