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 http://transportation.ky.gov/Civil-Rights-and-Small-Business-Development/Pages/SmallBusinessHome.aspx.

SurfKY News
Information provided by Office of the Governor

e-max.it: 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 This material may not be published, broadcast, or rewritten without permission.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.

In Other News...

UPDATE - OPD Investigates Boiler Room Robbery

OWENSBORO, Ky. (8/27/15) — According to an Owensboro Police Department report, OPD has charged two persons believed to… Read More

HPD Searching for Two Suspects Allegedly Involved in Shooting

HENDERSON, Ky. (8/28/15) — According to a Henderson Police Department report, on Aug. 27, 2015, officers responded to a… Read More
1 DOW 16,643.01
-11.76 (-0.07%)    
2 S&P 1,988.87
+1.21 (0.06%)    
3 NASDAQ 4,828.33
+15.62 (0.32%)    

Most Read This Week

August 24, 2015 10724

Teen Reports Slasher Attempted to Attack Him on…

by Doreen Dennis, SurfKY News
August 24, 2015 5997

Alleged Burglar Calls 911 to Report Fire

by SurfKY News
August 22, 2015 4991

Hopkins County Grand Jury Indictments

by SurfKY News
August 24, 2015 4930

UPDATE: Four Dead, Two Survive Boating Accident

by SurfKY News
August 27, 2015 4401

All is Well after MNHHS Lockdown

by Doreen Dennis, SurfKY News

Most Read This Month

August 06, 2015 15199

Muhlenberg Woman Reportedly Suffers Violent…

by SurfKY News
August 24, 2015 10724

Teen Reports Slasher Attempted to Attack Him on…

by Doreen Dennis, SurfKY News

Stories Trending Now

August 27, 2015 4401

All is Well after MNHHS Lockdown

by Doreen Dennis, SurfKY News
August 27, 2015 1908

Kentucky Career Center Blood Drive Aug. 31

by SurfKY News
August 26, 2015 1289

Legislators Preview Election 2015

by KET
August 27, 2015 1168

Madisonville Police Arrest Reports Released -…

by SurfKY News
August 27, 2015 1108

Driver Injured after Swerving to Avoid Striking…

by Doreen Dennis, SurfKY News
August 28, 2015 1023

Two Webster County Residents Injured in Hopkins…

by Doreen Dennis, SurfKY News
August 28, 2015 1003

Hopkins County Health Department Food Scores Thru…

by SurfKY News
August 28, 2015 774

Madisonville Police Arrest Reports Released -…

by SurfKY News
August 28, 2015 693

All Occasions Formals to Host Celebration to…

by Rita Dukes Smith, SurfKY News Director
August 27, 2015 689

Remember Alison Parker, Adam Ward Not the Killer

by SurfKY News