Local businesses and firms owned by women and minorities are benefitting from the Terminal Redevelopment and Improvement Program, the $189 million renovation and construction project under way at Charleston International Airport.
As of May 31, 2014 – the most recent data available – 37 percent of the $41 million spent so far was awarded to women- and minority-owned business enterprises and small businesses. Of the $41 million spent, 72 percent was awarded to firms in the Charleston area.
“Although it is too early to claim victory, the most recent TRIP subcontractors Disadvantaged Business Enterprise (DBE) participation reveals early signs of objective success,” said Maurice Washington, the DBE manager working with Michael Baker Jr., Inc., the project’s program manager.
The TRIP DBE program was created ensure equal opportunity for disadvantaged businesses to compete fairly for contracts connected to TRIP. The program aims to help small business and minority-owned companies compete for contracts, grow their businesses and contribute to the region’s economy.
The figures are based on the amount awarded to three prime contractors to design, build and manage the TRIP construction. That amount comes to $171.3 million and excludes contingency, insurance and fees that make up the remainder of the $189 million project. TRIP prime contractors are Michael Baker Jr. Inc., Austin-HITT, and Fentress Architects.
“These businesses are likely to continue to invest locally and their employees will spend their wages locally,” Washington said. “With that in mind, we are on target to accomplish the program objectives as well as have a positive influence on the local region’s economy.”