Small businesses have received more than $1 billion through the voter-approved FasTracks initiative to significantly increase the metro region’s transit infrastructure, the Regional Transportation District has announced. Contracts awarded over the past 12 years to small, women-owned, minority-owned and disadvantaged businesses on FasTracks projects have provided economic opportunities to thousands of people and strengthened the local economy.
RTD in mid-October surpassed the billion-dollar mark in payments made to small businesses. Approximately $5.6 billion has been committed to FasTracks since its passage 13 years ago. The agency will mark these financial milestones and celebrate its successes with a special event on Nov. 9.
“An important part of the story behind the infrastructure we are building is about those who are building it,” RTD CEO and General Manager Dave Genova said. “Small businesses have literally laid the foundation for each of our projects. Reaching this milestone is a testament to the strong partnerships built among our agency, prime contractors, resource partners and hundreds of small businesses.
“RTD is committed to developing opportunities for small businesses, and we have incorporated this process into everything we do.”
RTD’s work with small businesses has made history and stands as a model for entities across the country to learn from and follow. The mission of the larger Civil Rights division, which includes the Small Business Office, is to serve as the benchmark department for the entire country. Its standards and best practices far exceed those established by the industry.
As a recipient of federal funds, RTD is required to have a disadvantaged business enterprise (DBE) program for its federally funded construction, design and engineering work. Over the past three years, RTD met and at times exceeded its established DBE goal of 19 percent on federally funded projects. Most recently, for federal fiscal years 2017 through 2019, the agency set a more aggressive DBE goal of 24 percent. RTD is dedicated to diversity participation on its work on a scale often commended by participants and observers.
From 7:30 a.m. to 11 a.m. Thursday, Nov. 9, RTD will honor the partnerships that made these successes possible at its first Small Business Breakfast of Champions, at the Radisson Hotel Denver Southeast, 3155 S. Vaughn Way, Aurora. Media are welcome to attend the event, which will include close to 300 people and feature comments from Genova; Larry Hoy, chair of the RTD board of directors; Zamy Silva, senior manager of RTD’s Civil Rights division; and Cindy Terwilliger, administrator of the six-state Federal Transit Administration region that includes Colorado.
Beginning in 2005 with an award to Jacobs Engineering Group to manage the project, FasTracks contracts have benefited more than 600 small and disadvantaged firms and 2,200-plus subcontractors. Contracts have ranged from thousands to multiple millions of dollars, with many firms receiving more than one award.
“Many small businesses were born and others grew out of the opportunities presented by FasTracks projects,” Genova noted. “As firms become more competitive, everyone benefits: employees, the companies themselves, the larger business community and the state of Colorado.”
