The Minority Business Development Agency has awarded a grant to the University of Southern California to operate a business center in Los Angeles under a program that aims to help minority-owned companies generate jobs and grow their businesses.
MBDA said Wednesday funding will be spread out over a five-year period beginning April 1.
The Business Center Network program has worked to provide access to technical expertise and resources to minority firms since 2009, the agency said.
MBDA further noted California has an estimated 1.6 million minority companies that employ approximately 1.6 million local residents.
The agency, which is part of the Commerce Department, said it plans to announce additional information on grant winners and opportunities.