subject: Federal Contracting Opportunities: Follow The Money [print this page] The construction industry has been among the hardest hit with the economic tailspin beginning in 2007 and there's little projected hope of general improvement in the private sector in 2010. Many areas of the country are overbuilt, both in commercial and residential properties, and banks have yet to begin lending again. Private construction remains intensely competitive with a multitude of contractors bidding on the little work that is available. This is the bad news for contractors. There is, however, some good news and opportunities ready for the taking.
The 2009 American Recovery and Reinvestment Act (ARRA) includes a $135 billion allocation for construction to be spent on infrastructure nationwide. In addition to moneys for highway and rail projects, energy and technology, power grid and wireless/broadband infrastructure, $35 billion is directed towards the construction of general building projects, including federal buildings and housing. The projects are mandated to be awarded to American companies. In addition, the Veterans Benefits Act allows competition to be restricted, or sole-source contracts offered, to Service Disabled, Veteran Owned Small Businesses (SDVOSB).
Many of the contracts have yet to be awarded because no bids have been received, primarily due to the inexperience of contractors when it comes to accessing these thousands of federal ARRA-funded projects and bid on them. Budgeted ARRA stimulus money has not been spent for the simple fact that few contractors know how to become qualified to bid on government construction projects. Hundreds of high-margin construction opportunities of all sizes and types over $25,000 are posted on the FBO.gov website, many of which have little or no competition.
Qualifying to bid on federal contracts requires registration with the government. Though the process can be daunting, the rewards have never been greater. Qualified, registered federal construction contractors have enjoyed unprecedented opportunities and activity with the trend certain to continue. There has always been a steady flow of work on government projects due to the many facilities operating that require maintenance and updating, however, with the stimulus, there are now more projects than there are registered contractors.
It is well worth the time and effort to become a registered federal contractor and contacting area federal offices to discover what construction projects they have open and the funds they have mandated to spend. The federal construction work is waiting to be done and the money is there to fund it. Learn what you need to learn, do what you need to do, and get back to work!
by: Art Gib
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