Only 7 ARRA contracts to Bay Area black companies

Seven Bay Area black-owned firms had received eight contracts through the American Recovery and Reinvestment Act worth $716,428.72 through the end of April.
Where’s Our Stimulus: State of Black Business, seventh edition, being released during National Small Business Week, analyzed recovery.gov data to find 1,339 contracts awarded to black-owned firms nationally for a total contract value of $618 million.
The seventh annual study, by blackmoney.com executive editor John William Templeton, helps policy makers and businesses prepare for National Black Business Month in August 2010. The report also calculates by state the number of jobs which can be created by increasing the revenues of black-owned businesses. It calculates that $20-25 billion in additional revenues could create close to half a million new jobs in the most depressed neighborhoods.
Throughout California, 22 black-owned companies won 60 contracts from ARRA for a total value of $10,728,019.82.
By the end of April, more than 42,000 contracts had been awarded by federal agencies. African-American owned firms got 1.5 percent of those contracts.
On April 25, President Obama issued a memorandum ordering a 120-day study of contracting to small and minority businesses.
Last August, Sen. Barbara Boxer, D-CA, chair of the Environment and Public Works Committee, urged regional federal officials and state agencies to seek out small and minority firms for the contracts as much as possible.
The President visits the Bay Area this week to appear at a fundraiser for Boxer and to visit a Fremont plant which received a $500 million grant from ARRA funds, almost as much as all the contracts awarded to African-American firms nationwide.
The Bay Area contracts included six demolition or construction contracts from the Dept. of Interior; a maintenance contract and a facilities operations contract from the Dept. of Defense.
Statewide, a Los Angeles contractor received nine awards, a West Sacramento contractor and a Beverly Hills accounting firm each received eight contracts.

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