Last week the Houston Bonding Education Program (BEP) held its closing workshop with a flourish, featuring a closing ceremony with Mayor Annise D. Parker congratulating the participants and offering keynote remarks. Mayor Parker, addressing the 34 businesses and many stakeholders in attendance, said, "We are going to aggressively continue to make sure opportunities are available to as many citizens as we can. Thanks for sharing the dream that Houston is a place of opportunity."
BEP participants with Mayor Parker at the conclusion of the closing workshop in Houston.
Mayor Annise D. Parker addresses the Houston Bonding Education Program closing ceremony. BEP participants with Mayor Parker at the conclusion of the closing workshop in Houston.
A partnership with the City of Houston Mayor's Office of Business Opportunity and led by OSDBU's Gulf Region Small Business Transportation Resource Center, the BEP will continue throughout the fall as participants work with volunteer bond producers to build capacity and apply those bonding lines to transportation related contracts. In fact, there have already been successful outcomes from the program. Terry Bynum, after more than 30 years experience in the construction industry started Able Paving in June 2009. Able Paving submitted an application to a surety company during the seventh week of the program and received a performance bond in the amount of $206,000 to secure a contract with the U.S. Coast Guard. In addition, AB&C Electric was able to secure $400,000 in aggregate bonding capacity through their participation in the program.
The Houston effort marked the 13th program completed during 2012, and the 26th since the program started in 2010. To date, participants have obtained over $175 million in aggregate bonding capacity as a direct result of the BEP.
For more information on the BEP, please visit: http://osdbu.dot.gov/bap/bep_main.cfm