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24 Apr 2014

Driving economic growth and job creation

Re: Karen Mills (MBA 1977)
Topics: Government and Politics-Federal GovernmentFinance-Financial Strategy
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Karen Gordon Mills (AB 1975, MBA 1977) served in President Barack Obama’s cabinet as administrator of the US Small Business Administration, which is focused on economic growth and support for small businesses. In the midst of the 2009 financial crisis, Mills led efforts to increase access to capital, supporting more than $100 billion in lending to small businesses during her tenure. Heading up an agency of more than 3,000 employees, she prioritized overhauling and strengthening programs and operations, including streamlining loan processing and expanding entrepreneurship training programs.

"Our focus was first on stabilizing the economy for small business, and then on creating an ecosystem that fosters entrepreneurship and allows small businesses to do what they do best—grow and create jobs," said Mills, a long-time venture capitalist, who was tapped by the governor of Maine in 2007 to lead that state's Council on Competitiveness before joining the Obama administration. She is a frequent commentator on economic issues, and is currently a senior fellow at HBS and at the Mossavar-Rahmani Center for Business and Government at the Harvard Kennedy School, focusing on US competitiveness, entrepreneurship, and innovation. Mills also is a member of the Harvard Corporation.

(Published April 2014)

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MBA 1977
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