NJ Transit set its Disadvantaged Business Enterprises (DBE) goal for Federal Fiscal Years (FFY) 2020-2022 at 21.87%. This goal is on the total federal financial assistance that NJ Transit will expend on Federal Transit Administration (FTA)-funded contracts over the next three years. NJ Transit has $2.7 billion projected FTA-assisted contracting projects for FFY 2020-2022.
In April, NJ Transit held a public meeting at which it announced its DBE goals for FFY 2020-2022. NJ Transit took public comment at the meeting and engaged in a 30-day public comment period. At the meeting, prime contractors, small businesses and DBE’s had the opportunity to hear about upcoming capital construction projects.
Last year, NJ Transit awarded $165 million in FTA funded contracts, and of that amount $31 million was awarded to DBE firms, representing a DBE participation rate of 19% for the year. This year, instead of hiring an outside firm to help create the new DBE goal, the project was accomplished in-house, saving NJ Transit $100,000.
“We’re excited that NJ Transit’s new and ambitious DBE goal is going into effect,” said NJ Transit President and CEO Kevin Corbett. “It’s just one example of how we’re focused on developing a larger pool of qualified contractors who represent the diversity of the business community and the region we serve. We have so much talent in New Jersey and it’s in our best interest as an organization to cast as wide a net as possible. We want to ensure that all qualified businesses have the opportunity to participate in the procurement process.”