The U.S. Department of Transportation's Federal Highway Administration announced March 18 the contribution of $10 million in funding to minority and women-owned businesses so they can compete for federal highway contracts that are part of $1.2 trillion in infrastructure investments.
The announcement specified the funding would help eligible businesses secure funding in 45 states, Washington D.C., the U.S. Virgin Islands and Puerto Rico.
"With these funds, state transportation departments will help minority- and women-owned businesses across the country create jobs and better compete for resources for transportation projects nationwide," said Deputy Federal Highway Administrator Stephanie Pollack.
According to Census Bureau, based on data available from the June 2020 Annual Business Survey, there are a total of 1 million minority-owned and 1.1 million women-owned businesses in the U.S.
The Minority Business Development Agency talks about how minority companies that are smaller in size and scale often face unique challenges that revolve around securing contracts. But the $10 million funding will help the DOT in training the disadvantaged businesses on different types of business practices essential for securing federal contracts.
