Nonresidential public construction decreased 10.3 percent from 2009 to 2011, despite the influx of federal stimulus money. Four years removed from the height of the recession, more than 40 major league teams and NCAA Division I colleges are developing new arenas and stadiums or upgrading existing buildings. The next 36 months hold promise for sports facility construction. A partial list of projects compiled we know about at the Authority reveals roughly $9 billion in construction deals on the table over the next five years. Teams and colleges have secured funding or are working with public partners to bridge the gap in financing for this new construction.
As you know, small businesses are leaders in innovation and drivers of the economy. Small businesses create two thirds of all net new private sector jobs, employing half of all working Americans. According to the U.S. Census Bureau, the number of minority owned businesses increased by 46 percent between 2002 and 2007, which is more than twice the national rate for U.S. businesses. Without question, during this period of economic revitalization, small and minority businesses will continue to play a pivotal role in supporting our country. Through relationships we have developed over the past 25 years, the Authority is committed to helping minority businesses gain access to contract opportunities through joint ventures, teaming arrangements, and subcontracts through the use of credit under source selection evaluation factors that fulfill the needs of the public partners who bridge the gap in financing for this new construction, create jobs for minority general contractors, subcontractors, architectural and engineering firms, and furniture, fixture and equipment providers, and promote economic development in our community.
Beyond construction, the Authority is committed to helping minority businesses gain access to contract opportunities in a number of arenas including, but not limited to, asset management, computer peripherals, custodial/janitorial services, data storage/backup, IT, laboratory services, landscape contractors, landscape managers, and other associated landscape professionals, laundering services, legal services, maintenance, new printer/copiers, office equipment, furniture and supplies, outbound shipping, social media, skilled trades (HVAC, electrical and plumbing), telecommunications and waste/trash removal.