Overview of Recovery Act
The American Recovery and Reinvestment Act (ARRA) of 2009 (Recovery Act) was signed into law by President Obama on February 17, 2009. It is an unprecedented effort to jumpstart our economy, create or save millions of jobs, and put a down payment on addressing long-neglected challenges so our country can thrive in the 21st century. The Act is an extraordinary response to a crisis unlike any since the Great Depression, and includes measures to modernize our nation's infrastructure, enhance energy independence, expand educational opportunities, preserve and improve affordable health care, provide tax relief, and protect those in greatest need. A large number of opportunities are becoming available as federal agencies implement the Recovery Act. You can search, monitor and review grant opportunities at Grants.gov; contract opportunities at FedBizOpps.gov; and loan opportunities at GovLoans.gov.
What should minority businesses do to take part in the ARRA stimulus projects?
ARRA contracting will be done no differently than any other government contracting opportunity, therefore MBDA recommends that minority businesses:
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Register in the Central Contracting Registry (CCR) www.ccr.gov. If you are already registered, please make sure your profile is up-to-date with correct contact information, capabilities, bonding and most important “past performance.”
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Register with MBDA’s Phoenix Opportunity Matching System and visit your local MBDA business center.
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Look out for “Sources Sought” and “Request for Information (RFIs)”. If you are contacted regarding an opportunity, please respond as soon as possible.
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Make contacts, build relationships and form strategic alliancies.
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Some contracts may be large or bundled, but by building strategic partnerships with other companies, your company can still be a part of the work.
- Firms that are 8(a)s, in the GSA schedule, women-owned business, Historically Black Colleges and Universities (HBCUs), Tribal Colleges and Universities (TCUs), Service Disabled Veteran-Owned businesses, Native Tribes, businesses in Hub-Zones: and are State certified and have strong past performance have a more significant competitive advantage for “shovel ready” projects.
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- Keep informed by visiting recovery.gov, fedbizopps.gov and grants.gov to make sure you are aware of every opportunity for your business.
Overall, make sure your business is ready, has strategic alliances in place and can take advantage of these opportunities as they become available.
For more information, or to make sure your business is ready, please contact a minority business center near you.
