beshear b 300FRANKFORT, Ky. (8/13/14) — Governor Steve Beshear announced new steps to ensure qualified small businesses have a role in federally funded transportation projects in Kentucky.

“More than 90 percent of Kentucky businesses have 50 or fewer employees, so the importance of small businesses is as obvious as it is significant,” Gov. Beshear said. “My administration has been committed to helping small businesses succeed, and the action being announced today is in keeping with that commitment.”

The new initiative involves the Kentucky Transportation Cabinet, which has implemented a Small Business Enterprise program within its long-established program for Disadvantaged Business Enterprises.

As is already done for DBEs, the cabinet will set a small business participation goal for each transportation project that is assisted by the Federal Highway Administration and is of $2 million or more. Firms can compete for these prime contract and subcontract awards if they become SBE-certified and do not have gross receipts in excess of $22.4 million. SBE goals for projects will be set in addition to DBE goals.

To become SBE-certified, firms must meet criteria established by the U.S. Small Business Administration. In addition, the personal net worth of the firm’s majority owner must be less than $1.32 million. If majority ownership rests with multiple owners, the same limit applies to each.

SBE certification is for three years. At a three-year review date, the small business will be required to submit an updated application for continued eligibility. Once certified, and to remain certified, SBEs must annually submit a “no change affidavit,” personal financial statement and a copy of the most recent federal tax return for the firm and each owner. They must also report matters that may affect their eligibility.

Information and application packets are available from the Small Business Development Branch of the KYTC Office of Civil Rights and Small Business Development. Branch personnel can be contacted at (800) 928-3079 or (502) 564-3601, or online at

SurfKY News
Information provided by Office of the Governor your social media marketing partner

LIKE SurfKY on Facebook - Click here to LIKE us now.

© Copyright 2015 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story on social media.

1 DOW 17,131.86
+47.37 (0.28%)    
2 S&P 2,017.46
+2.57 (0.13%)    
3 NASDAQ 4,838.64
+8.17 (0.17%)    

Stock Report Sponsored by

In Other News...

Owensboro Traffic Advisory

OWENSBORO, Ky. (10/12/15) — A contractor for the Kentucky Transportation Cabinet plans nighttime lane restrictions… Read More

MPD Foot Patrol Charges Man with Trafficking in Meth

MADISONVILLE, Ky. (10/12/15) — During a foot patrol in Victoria Mobile Home Park, police attempted to arrest a man on… Read More

Most Read This Week

October 10, 2015 6624

25-Mile Car Chase on Pennyrile Ends in Two Arrests

by SurfKY News
October 07, 2015 5099

Alleged Attempt to Hide Meth in Doughnuts Results…

by SurfKY News
October 06, 2015 5051

County Passes Occupational Tax Ordinance

by Doreen Dennis, SurfKY News
October 06, 2015 4024

Dawson Man Charged with Cultivating Marijuana,…

by SurfKY News
October 07, 2015 3425

Vehicle Overturns during Two-Car Collision

by Rita Dukes Smith, SurfKY News Director

Most Read This Month

September 16, 2015 13897

Mining Accident Fatality - Update

by Doreen Dennis, SurfKY News
September 30, 2015 11990

Dawson Woman Dead After Princeton Factory…

by SurfKY News

Stories Trending Now

October 12, 2015 2802

Crime Stoppers Top Most Wanted - October 12, 2015

by SurfKY News
October 12, 2015 1666

MPD Foot Patrol Charges Man with Trafficking in…

by SurfKY News
October 12, 2015 1553

Four Injured after Vehicle Careens down…

by SurfKY News
October 12, 2015 1525

Two-Vehicle Collision Results in One Driver…

by SurfKY News
October 12, 2015 1279

Kentucky Health Co-op Closing Due to Congress…

by SurfKY News
October 12, 2015 1193

Driver Dies after Single-Vehicle Collision on…

by SurfKY News
October 11, 2015 1060

Legislator's Log - Week of Oct. 11, 2015

by SurfKY News
October 11, 2015 973

Knee Replacements: Improving the Outcomes

by KET
October 11, 2015 940

10th Annual Baja Offers Opportunity for Fun,…

by Tammy Holloway, SurfKY News