PHILADELPHIA (KYW Newsradio) — Philadelphia hosted two Cabinet officials and dozens of business leaders Thursday for the White House Initiative on Asian Americans, Native Hawaiians, and Pacific Islanders Economic Summit.
Dancers kicked off the summit, the first in a series the White House is holding around the country.
The goal of the series is to help distribute economic growth more equitably from the bottom up and the middle out, by bringing more small, diverse businesses into things like federal contracting, grants and international trade.
Isabella Casillas Guzman, administrator of the U.S. Small Business Administration, said that means making sure federal spending in the Bipartisan Infrastructure Law, the CHIPS and Science Act and the Inflation Reduction Act goes to the smallest of small businesses.
“We want you to be able to build resilience and build wealth in communities, and the time to do this is now,” said Guzman.
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U.S. Trade Representative Katherine Tai said the International Trade Commission is on a similar mission, to spread the wealth created by global trade through all parts of the economy, not just at the very top.
“We need to make sure that all have a chance to participate and benefit,” said Tai. “This means bringing more people to the table and incorporating their voices, especially those who have been under-epresented or forgotten in trade policymaking.”
Panels shared information on navigating the large systems that drive economic growth.
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Federal officials offered tips and resources for participating in federal contracts and trade programs.
Stephanie Sun, a board member of the Welcoming Center, was impressed with the size and diversity of the businesses that attended.
“When we talk about government grants, funding opportunity and procurement opportunity, minority-owned business still has been under-represented,” said Sun. “It’s very important to get the information out.”
Main Line Chinese Cultural Center School Principal Qunbin Xiong said he learned a lot.
“It’s a long, complicated process, but there are resources to help you” said Xiong.
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The Philadelphia summit is the first of a number of events across the U.S. to help Asian American, Native Hawaiian and Pacific Islander business communities navigate the world of trade, federal grants and contracts.
Organizers timed this first summit to coincide with the Lunar New Year.
They said they hoped it provided some comfort and hope after mass shootings in California marred the start of the year.
24 people have been killed in the last 10 days during mass shootings in Goshen, Half Moon Bay, and Monterey Park, California. Two of the mass shootings involved members of the Asian American community.