Charlotte Area Transit System (CATS) will co-sponsor a U.S. Department of Transportation (DOT) Bonding Education Program (BEP) for the Charlotte area.
CATS is partnering with DOT, South Atlantic Region Small Business Transportation Resource Center and Balfour Beatty to offer the program to help small and disadvantaged businesses grow by obtaining or building bond capacity. This program is tailored to meet the specific needs of contractors competing for transportation-related contracts. A kick-off meeting is planned for May 28 at the Charlotte-Mecklenburg Government Center at 600 E. Fourth St. at 5 p.m. The Bonding Education Program schedule will run from June 2-18. Small and disadvantaged businesses will need to register with the Small Business Transportation Resource Center to participate.
“CATS is committed to helping small and economically-challenged businesses,” said CATS Interim CEO John Muth. “This is another step in our efforts to assist businesses in becoming more successful,” he said. “We appreciate US DOT, Small Business Transportation Resource Center and Balfour Beatty for their assistance in organizing this education class.”
“Workforce development and training is critical to the future success of the construction industry and Balfour Beatty is both excited and honored to be participating with CATS, The city of Charlotte, and the US DOT in this very important program,” said Mark Johnnie, Southeast Region Vice President of Balfour Beatty Infrastructure.
The Bonding Education Program provides several tools that can help a business thrive by teaching them about obtaining a bond, managing growth, estimating and bidding, and financing and lending opportunities. The program process includes several components. Along with a regional stakeholders meeting, the program provides educational workshops where businesses will learn about improving their company’s operations and other helpful information. The program also offers one-on-one interactions with local surety bond producers to help businesses with bond readiness and follow-up assistance.
“The mission of the SBTRC is to provide the resources and tools necessary for small and disadvantaged businesses to compete on federally funded transportation related opportunities. It is rewarding to watch a company grow from a small endeavour into a successful business,” said Kaye Gantt, DOT project director of the South Atlantic Region Small Business Transportation Resource Center. “Small and disadvantaged businesses are encouraged to contact the South Atlantic SBTRC for technical assistance, financial resources and bonding assistance.
