Fort Worth's City Council has given its nod to a new initiative tailored for bolstering small businesses in the city. The creation of the Small Business Development Program, a maneuver that aligns with federal requirements and safeguards the continual flow of substantial grant funding crucial to local projects and services, as reported by the City of Fort Worth.
With this initiative, the City Council is pushing forward to open more doors for local businesses by setting procurement targets and giving technical assistance, especially through partnerships with diverse commerce chambers like the Fort Worth Metropolitan Black Chamber of Commerce, the Fort Worth Hispanic Chamber of Commerce, and the Fort Worth Chamber that, the City is now working on an ambition of a 30% utilization goal for contracts surpassing $100,000 and a 5% bid preference for deals up to the same amount from September 1st. Although ambitious, the initiatives are grounded in extensive community outreach and consultations for shaping the program's trajectory.
Additionally, Fort Worth is eager to tap into an expanded pool of Small Contractor Development Program participants by sending out a Request for Proposals to increase eligible small business engagement in city endeavors.
The steps taken are in line with the City’s commitment to promoting a thriving business environment for all, without stepping on the toes of federal legislation which prohibits discrimination based on race or gender in government-backed services, fortifying the City’s basic infrastructure and support systems, which is undeniably crucial given the current stake of $277 million in active federal grants that the City relies on for a myriad of programs reaching nearly 40,000 residents and not to forget supporting the livelihood of 120 city employees working on such projects outlined by the City's press release.
