The Department of Transportation has entered into partnerships with the Small Business Administration and Minority Business Development Agency to help small and disadvantaged businesses in the transportation industry pursue work on government infrastructure programs.
Under the partnerships, USDOT aims to provide small and minority-owned businesses with improved access to resources and capital and connect them with large companies and transportation modal representatives from state, federal and municipal agencies.
USDOT signed two memorandums of understanding with SBA to increase the bonding capacity of small transportation businesses and facilitate access to private capital from the Office of Investment and Innovation.
MBDA will work with the department to expand the presence of underrepresented minority business enterprises in national transportation supply chains through data sharing and reporting under a separate MOU.
“These new initiatives with our partners at SBA and MBDA will help more small business owners secure federal contracts to modernize our country’s infrastructure for decades to come,” said Transportation Secretary Pete Buttigieg.