WASHINGTON, D.C. (WDAM) - This is a news release from the U.S. Department of Commerce.
The U.S. Small Business Administration announced today that the federal government has surpassed the 23 percent small business procurement goal for the second consecutive year since 2005, awarding approximately $91.7 billion in contracts to small businesses in fiscal year 2014.
On the two-year anniversary of when U.S. Secretary of Commerce Penny Pritzker joined the Department, SBA announced that the U.S. Department of Commerce received an A+ rating. The A+ rating is a first for the Department, and is awarded based on the Commerce Department's commitment to supporting small businesses through procurement contracts with smaller enterprises.
According to Commerce's scorecard, the Department awarded $1.6 billion in contracts to small businesses in fiscal year 2014.
"Surpassing our procurement goals reflects the Commerce Department's unwavering commitment to creating jobs, economic mobility, and ladders of opportunity for all," said U.S. Secretary of Commerce Penny Pritzker. "This A+ rating is a testament to the hard work of our dedicated employees. As part of the 'Open for Business Agenda,' we will continue doing all we can to support our small businesses and look for more ways to maximize their participation in our contracting and procurement process."
The $91.7 billion awarded in small business contracts represents an incredible impact to the American economy that supports job creation, innovation, and growth, supporting over 550,000 jobs in the American economy.
"Small businesses are agile, innovative, and affordable partners for the federal government. Through small business contracting, the federal government acts as a catalyst for small business growth and innovation, while also supporting the economic security of our nation," said U.S. Deputy Secretary of Commerce Bruce Andrews.
During President Obama's first six years in office (FY2009-FY2014), the federal government has awarded $550.7 billion in federal contracting dollars to small businesses. This figure represents an increase of nearly $88 billion from the six years prior to this Administration. These results are a consequence of government-wide focus on increasing small business contracting opportunities.