The City of San Diego has launched a new program that will give small and minority-owned businesses priority when awarding contracts, the San Diego Union-Tribune reports.
The new Small Local Business Enterprise program will reserve all public works contracts under $500,000 for smaller companies, and also give them an advantage in applying for larger projects – giving entrepreneurs interested in starting an LLC a better chance at finding work. The Union-Tribune reports that those contracts could distribute $25 million in revenues to more than 100 companies.
“If we can get the opportunity to do more business with the city it’ll help boost the economy for the city as well,” Miguel Boggiano, the owner of a cleaning company, told the paper. “It will help generate more jobs and more business for everyone.”
The program aims to help bring diversity to a contracting process that has shown a startling lack of it in recent years. According to the paper, companies owned by white men were awarded more than 97 percent of construction contracts in 2009.
Across the country, there are a growing number of minority-owned businesses. Statistics from the U.S. Census Bureau show that from 2002 to 2007, the number of new minority-owned companies rose 46 percent to 5.8 million.
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