Los Angeles creates program to help companies win public construction contracts
The recipient of CDABP assistance is Moninder Birdi, owner of Birdi & Associates, Inc. which has won multi-million dollar contracts from Los Angeles World Airports
India West Staff Reporter
LOS ANGELES, CA – A three-pronged regional Los Angeles program – launched by the City of Los Angeles, Metro Los Angeles County and Los Angeles County – has been created to help small and diverse contractors bid and to obtain work on development infrastructure and other publicly funded construction projects.
The regional entrepreneur development and bonding program will provide bonding assistance, contract financing, technical support, education, training and other services to underrepresented businesses, according to a press release.
All three components are administered by Merriwether & Williams Insurance Services, which has many years of experience in public construction contracts and diversity, equity and inclusion issues statewide.
Bonding and access to contract finance can be major hurdles for diverse small contractors wishing to successfully bid on and participate in public works projects. The regional CDABP helps reduce these and other barriers.
For example, the program helps small and diverse businesses obtain surety bonds by providing collateral guarantees that enable them to bid and qualify for contracts. Additionally, by increasing access to contract financing, the program addresses the burden of cash flow gaps that exist between the initial cost to continue work and the subsequent receipt of progress payments, gaps that can be 60 days or more. In addition, CDABP provides technical assistance, training, project completion support, business-specific networking and matchmaking facilitation, and other support services to entrepreneurs.
Businesses supported include categories of businesses owned by disadvantaged people, minorities, small businesses, women and veterans with disabilities. All of CDABP’s regional services are provided free of charge to participants, giving them a more level playing field.
“With Congress passing and President Joe Biden signing a $1.2 trillion infrastructure investment plan in November, more opportunities are emerging in communities, including the Greater Los Angeles,” Merriwether said. “If you are a diverse small business, the new regional CDABP can help you compete for upcoming construction contracts. There is an ever-increasing demand for the inclusion of smaller, local and diverse businesses in government procurement. We are expanding our reach, which includes upcoming trainings, workshops and academies, as well as financial resources. Contact us. We want to hear from you and include you.
One of the recipients of CDABP assistance is Moninder Birdi, owner of Birdi & Associates, Inc., which specializes in project management, electronic security systems and software development. Birdi & Associates has won multi-million dollar contracts from Los Angeles World Airports after participating in its CDABP. “The program has helped us bid and win jobs that we didn’t have the ability to bind ourselves to before,” Birdi said. “It levels the playing field. This is a DEI program that adds tremendous value to multiple stakeholders. I welcome the creation of a regional program. This will collectively benefit many underrepresented businesses, taxpayers, and the Los Angeles area. »
For more information: www.LAConDev.com, email: [email protected], or call: 213-258-3000.