Economic Development & Supplier Diversity
A Letter from the Office of Economic Development and Supplier Diversity
The U.S. Small Business Administration is offering disaster assistance.
Based on late breaking news and a very fluid situation with the current CARES Act Legislation, we are postponing all webinars about the SBA Economic Injury Disaster Loans until further notice. We want to make sure you get the most up-to-date and accurate information. We will continue to work with our SBA Kentucky District Office and Kentucky Procurement Technical Assistance Center (KYPTAC) to keep you informed.
The mission of Fayette County Public Schools is to create a collaborative community that ensures all students achieve at high levels and graduate prepared to excel in a global society.
FCPS serves more than 42,000 students with nearly 6,000 employees and an operating budget of almost $600 million. On average, the district spends about $100 million a year on goods and services, professional services, and construction projects. Because of the district's size and impact on our community, the Fayette County Board of Education voted unanimously in 2010 to create a position focused on economic development and supplier diversity, and thus this office champions three causes:
- The economic development and growth of Lexington and the Commonwealth;
- Supplier diversity and the growth and development of minority, women, and veteran-owned businesses and connecting those businesses with opportunities in FCPS;
- Workforce development issues that connect FCPS and its students with career opportunities.
As the second-largest employer in Lexington, FCPS knows how it spends the money entrusted by taxpayers has a far-reaching effect on the greater economic development of the entire community. Because of the district’s commitment to equity and inclusion, the school board has set a goal that not less than 12 percent of the total value of a construction contract, 11 percent of goods and services, and 14 percent of professional services be contracted to minority, women, and veteran business enterprises (MWVBEs).
A minority, woman, or veteran business enterprise is a business that is at least 51 percent owned, operated, and managed by a U.S. citizen of the following groups:
- Asian-American / Asian Pacific Islander
- Native American / Native Alaskan Indian
- Non-minority female
- U.S. military veteran
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