SACRAMENTO, February 26, 2008 – Assemblymember Curren Price (D- Inglewood), Chair of the Assembly Select Committee on Procurement, authored AB 2773 which will amend the Small Business and Procurement Contract Act and increase the maximum contract amount awarded to small businesses from $100,000 to $250,000.   The law currently permits a state agency to award Certified Small Businesses, including Micro Businesses and Disabled Veteran Business Enterprises, contracts with a value between $5,000 and $100,000 for goods, services or information technology.   AB 2773 also calls for contractors to report the actual percentage of their stated small business goal that was achieved upon completion of their contract.

There are approximately 3.5 million small businesses in the state of California, representing 98% of California enterprises and employing 50% of the workforce. “The State of California cannot truly thrive economically, unless our small businesses are allowed to grow and prosper,” said Price.  “I am pleased that the Governor’s office is keeping its promise to ensure substantive small business contracting opportunities with the state by supporting my authorship of AB 2773.”  

Executive Orders S-02-06 and S-11-06 set a 25% contracting and procurement goal for small and emerging businesses.  The Select Committee on Procurement is charged with developing viable strategies to fulfill that procurement and contracting goal and has already convened two public hearings.  On Thursday, February 28, 2008, from 11:00am - 1:00pm, in room 127 at the State Capitol, the Select Committee on Procurement will convene a third hearing to receive a status report on the Governor’s Partnership Agreement with the Construction Trade Industry.  The Partnership Agreement states that the signatories, including representatives of the state’s major construction corporations, small business advocacy associations and Caltrans Director Will Kempton, will work to maximize the participation of small and disadvantaged business enterprises in California’s transportation program.   

As a former small business owner, Assemblymember Price has made support of small businesses key among his policy and constituent outreach concerns.   He was recently appointed to the Commerce and Utilities Committee and is a member of the Business & Professions, and Jobs, Economic Development & the Economy Committees.  On Friday, February 29, 2008, from 5:30pm - 8:00pm, Price, along with seven District 51 Chamber’s of Commerce, will host a business forum at Hollywood Park Race Track, in Inglewood.   “I wanted to create an opportunity for small business owners and organizations in the District to network with major corporations and state agencies, while gaining valuable insight and technical assistance to support their businesses,” said Assemblymember Price about the business event. 

For more information about Assemblymember Price’s efforts on behalf of California’s small business community, please visit his website at   www.democrats.assembly.ca.gov/members/a51/.   If you are interested in attending the business event on February 29th, please contact the District Office at (310) 412-6400.

Assemblymember Curren Price serves the 51st Assembly District, which includes Inglewood, Hawthorne, Gardena, Playa Vista, Westchester, Lawndale, West Athens, Lennox, Alondra Park, West Compton, Del Aire, Willowbrook and portions of unincorporated Ladera.