Historic Achievement: U.S. Treasury Recognizes Jewish Businesses as Minority-Owned

The U.S. Treasury Department has signed a historic memorandum of understanding (MOU) with the Orthodox Jewish Chamber of Commerce (OJC), officially recognizing Jewish businesses as minority-owned for the first time. This agreement grants Jewish businesses improved access to vital resources such as capital, contracts, and global markets through the Minority Business Development Agency (MBDA).

The signing ceremony, attended by key officials including Deputy Secretary of Commerce Don Graves and Under Secretary Eric Morisett, marks a significant milestone in correcting historical oversights in federal support for minority businesses. Since 1969, MBDA has supported various minority groups, but Jewish businesses, despite being a historically marginalized 2% of the U.S. population, were excluded until now.

Deputy Secretary Graves hailed the agreement as a long-overdue correction, ensuring Jewish businesses receive equal recognition and opportunities. Joann Hill of MBDA emphasized that this success was built on years of relationship-building and mutual respect, transcending politics. The agreement is expected to break barriers and empower Jewish entrepreneurs, significantly contributing to the broader business community.