MOUNTAIN VIEW – Commerce Secretary Gary Locke recently delivered the keynote address at the Summit on Entrepreneurship and Small Business Growth as part of the White House Initiative on Asian Americans and Pacific Islanders (AAPI).

As co-chair of the Initiative, Locke highlighted the significant contributions minority businesses have made to the U.S. economy and discussed Obama administration policies that support small business growth and hiring, emphasizing how business owners can better access and take advantage of federal programs to become more successful.

Small businesses have created 70 percent of all new jobs in the past decade, and nearly 1.1 million Asian Americans and Pacific Islanders own small businesses.

“Every day, two million Asian Americans and Pacific Islanders breathe life into small businesses–the very engines that grow our economy,” he stressed. “There are more than one million AAPI owned firms in the United States – generating well over $300 billon dollars in sales—and employing 50 percent of all workers at minority firms.

He added: “I just wanted to note how integral AAPI entrepreneurs and small businesses are to Silicon Valley’s economic dynamism and success – playing a key role in innovations in technology, clean energy, health IT and other growing sectors.”

“There’s a great legacy of Asian American/Pacific Islander entrepreneurs, innovators and small business owners in America – all we want to do is smooth the way for that long line of accomplishment to continue,” he said.

“Since President Obama was elected, Asian Americans and Pacific Islanders nationwide have seen substantive gains in employment and achieved new heights in business engagement,” he noted.

He said AAPI small businesses have won over $1 billion in new government contracts. The Small Business Administration has awarded minority-owned firms with grants for cutting edge Research & Development ventures.

“In the coming months, more than 20 executive departments and agencies will be soliciting public input from Asian American/Pacific Islander communities like this one for ideas as to how we can expand opportunities and identify roadblocks to federal government programs,” he said.

Before the summit, Locke also participated in a breakfast roundtable discussion with business leaders from the AAPI community and local officials.

Summit attendees included business leaders from Silicon Valley and officials from the White House Initiative on AAPI and the White House National Economic Council, as well as representatives from the Department of Commerce, the Department of Treasury, the Small Business Administration and the Export-Import Bank.