Tag: URETEKholdings
12Mar 2014
Florida Department of Transportation Announces New Small Business Contracting Strategies
FLORIDA DEPARTMENT OF TRANSPORTATION TAKING STEPS TO SUPPORT SMALL BUSINESS
FLORIDA DEPARTMENT OF TRANSPORTATION
TAKING STEPS TO SUPPORT SMALL BUSINESS
FDOT’S Business Development Initiative (BDI) Helps Grow Small Businesses
March 6, 2014 Dick Kane, (850)414-4595
TALLAHASSEE – In an effort to help grow small businesses in the state, the Florida Department of Transportation (FDOT) will implement a number of strategies to further support small businesses:
- Increase the percentage of small business reserved professional services contracts from 10% to 15% (the 10% goal for construction and maintenance contracts will remain the same);
- · Increase the small business reserved project amount threshold from $1 million maximum value to $1.5 million maximum (the BDI project amount originally started at $500,000);
- · Increase the threshold for requiring an overhead audit on professional services contracts from $250,000 to $500,000, which reduces the cost of doing business with the department;
- · Incentivize larger firms to team with Disadvantaged Business Enterprise (DBE) and small businesses…