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DBEs Receive More than $1 Billion Through RTD's FasTracks
Denver’s Regional Transportation District (RTD) has disbursed more than $1 billion to small businesses—including women- and minority-owned and disadvantaged companies—over the past 12 years through the voter-approved FasTracks initiative to strengthen the region’s public transit infrastructure and boost the local economy.
“An important part of the story behind the infrastructure we are building is about those who are building it,” said RTD Chief Executive Officer and General Manager Dave Genova. “Small businesses have literally laid the foundation for each of our projects. Reaching this milestone is a testament to the strong partnerships built among our agency, prime contractors, resource partners and hundreds of small businesses.”
By receiving federal funds, RTD is required to have a disadvantaged business enterprise (DBE) program for its federally-funded construction, design and engineering work. Over the past three years, RTD has met or exceeded its DBE goal of 19 percent on federally funded projects and since Fiscal Year 2017 has increased the goal to 24 percent.
Beginning in 2005 with an award to Jacobs Engineering Group to manage the project, FasTracks contracts have benefited more than 600 small and disadvantaged firms and more than 2,200 subcontractors. Contracts have ranged from thousands to multiple millions of dollars, with many firms receiving more than one award.
“Many small businesses were born and others grew out of the opportunities presented by FasTracks projects,” Genova said. “As firms become more competitive, everyone benefits: employees, the companies themselves, the larger business community and the state of Colorado.”
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