Michigan Gov. Gretchen Whitmer’s proposed Fiscal Year 2025 budget include additional funds for MI Contracting Opportunity, a program that supports contractors and suppliers who are socially or economically disadvantaged. The $5 million recommendation represents a renewal of the item in the previous budget, with a $2 million increase.
On this week’s edition of the Talking Michigan Transportation podcast, Lisa Thompson, who directs the Michigan Department of Transportation’s (MDOT) Office of Business Development, which includes the Disadvantaged Business Enterprise (DBE) program, explains how the funding will help build on the success of assisting these businesses.
Thompson says the goal is to assist small businesses with tools to actively participate in the various phases of road and bridge design and construction.
Other objectives include:
- The continuation and growth of MDOT's highly successful consultant, small business mentor-protégé program.
- Expanding a small business trucking program that covers the cost of commercial driver's license (CDL) training for small, disadvantaged trucking companies to help with truck driver shortages.
- A key focus to connect firms with access to capital and the skills to manage it successfully throughout the project life cycle; build and maintain meaningful relationships with industry professionals to provide opportunities to utilize and/or expand their work types; and provide training regarding the intricacies of government contracting and ways to strengthen their business functions and efficiencies.
- Upcoming initiatives include creating two small business revolving loan programs to help support small, disadvantaged businesses grow and contract more MDOT work. There will be a small business lending program and a mega projects small business lending program. Any funds received by the state as repayment of past loans are appropriated and shall be available for future loans.
- Create a small business incubator program that serves MDOT's existing small and disadvantaged business development program to grow the capacity of Michigan-based small, disadvantaged businesses through training and construction mentor-protégé opportunities.
