The Recovery Act invested millions in new projects that are improving our infrastructue, repairing homes, and much more. But it also provided millions in direct benefits for families, students, businesses, investors, and more including more than $288 million in various forms of tax relief. Guidance on how to access each of those benefits is below.
Recovery Act Provisions:
- $275 billion in contracts, grants, and loans
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With $275 billion in contracts, grants, and loans, plus a long-standing federal goal of awarding 23 percent of contracts to small businesses, there are many opportunities for small businesses in Texas to get involved with the Recovery Act.
To find opportunities and make bids:
1) Find contract opportunities
Federal contracts up for bid through the Recovery Act can be found at the Contracts page on Recovery.gov, and all contracting opportunities over $25,000 can be found on FedBizOpps.gov. Additionally, small businesses can search for subcontracting opportunities at this site. If this is your first time pursuing federal contracting opportunities, you can get an overview of the process and tips on how to win Recovery Act contracts from this Small Business Administration training module. There is also a general training course for women small business owners. Before bidding on federal contracts, businesses must complete the Central Contractor Registration. A short list of required materials, including a DUNS number, is here.
There are also a great deal of contracts being handled at the state level. Every contract opportunity over $25,000 is listed on the Electronic State Business Daily (ESBD), and all state agencies post solicitations on the Centralized Master Bidders List (CMBL). The CMBL requires a $70 yearly fee. Information on business opportunities with the Texas Department of Transportation (TXDOT) can be found at this site, which includes an online bidding system.
2) Find grant opportunities
Competing for federal grants rather than contracts is sure to be a more difficult process for small businesses. Still, the Recovery Act contains billions of dollars in grants for the private sector to carry out innovative projects in the areas of energy, education, housing, and more. The place to begin searching for these federal awards is Grants.gov.
The State of Texas also has a resource for businesses looking for Recovery Act grants and loans. Businesses can search for opportunities, but they will have to apply via Grants.gov or through the appropriate state agency.
