A New Era in Infrastructure
By Adriana Clark, Office of Small Business Southeast Region | U.S. Department of Transportation
Women-owned enterprises can lead the way during this transformative time in America’s history.
The new Infrastructure Investment and Jobs Act is set to refuel the economic engine of the US economy.¹ Every $1 billion in federal highway and transit investment is estimated to support 13,000 jobs for one year. The much-anticipated legislation builds upon the good works of the previous years’ $305 billion FAST Act surface transportation investment, which ended a decade-long hiatus of long-term surface transportation funding.
Small business stake in transportation and infrastructure stands at a watershed moment in building back the nation’s transportation assets. Women-owned enterprises can lead the way during this transformative time in America’s history. According to a 2019 State of Women Owned Businesses Report, women-owned businesses represent an estimated 42% of all U.S. businesses (nearly 13 million), employ 9.4 million workers, and generate $1.9 trillion in revenue.
The US DOT Office of Small Business continually focuses on ways to engage the creative energy and diligence of small/Disadvantaged Business Enterprise (DBE) and women-led enterprises competing for, winning, and performing on transportation-related subcontracts/contracts. As such, leveraging the indispensable talents and skills of America’s 1.1 million women-led enterprises together with an increasingly diverse workforce is key to crafting transportation solutions. This is, in part, the reason that DOT earned at least an “A” rating on the Annual Government Agency Procurement Scorecard for its small business contracting achievements over the past decade.
Transportation infrastructure is more than constructing highways. It is inclusive of other offerings, including technology, professional/scientific/technical services, creatives, project management, training, IT, and wrap-around services and supplies to support 21st century mobility. Public Law (95-507) mandates large prime contractors receiving federal awards over the $750,000 threshold to establish goals for subcontracting with small, veteran/service disabled, HUBZone, small DBEs and women-owned businesses. This helps ensure the integral role smaller firms play in planning, designing, building, and maintaining equitable and sustainable systems of transportation and renewable energy.
Now is the time for business owners to fortify existing relationships, form strategic alliances, shore up technology, keep pace with business agility trends, and reinvest in your people who, in turn, will be vested in your company.
¹CEA, https://www.whitehouse.gov/blog/2011/09/09/american-jobs-act-state-state